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A widely followed market observer, Crypto Wizard, has highlighted that XRP’s turbo candle is inbound, indicating the potential for the asset to break a three-year high in the short term.
At the time of the post, XRP had just reclaimed the $0.63 level after having traded in the $0.58 range two days earlier. XRP’s move back into the $0.60 region sparked significant attention in the crypto community, enabling it to climb even higher.
In particular, XRP has since hit $0.66, a threshold it last traded at in March when XRP set a yearly high above $0.74. This commendable price action over the weekend has given confidence to analysts like Crypto Wizard that higher price points are in sight.
XRP Likely to Pump by 210% to $2
In the chart accompanying the update, this analyst depicted the potential path XRP could take next. He forecasted XRP engineering a strong, tall green candle, where its price could pump as high as $2 soon.
The chart highlighted a previous occurrence during the last bull season. Looking at XRP on the monthly timeframe, the chart pattern depicted a towering rally to $1.96 in 2021 before the momentum waned. He sees a repeat of that.
At press time, XRP is back in the $0.645 range, given the ongoing retracement in the broader crypto market. Reaching $2 would require a growth of 210% from the current price level, amounting to a 2X return for current holders.
Analyst Expecting $1.5M Profit from XRP at $2
Other market analysts, like Michael XBT, a Bitcoin investor since 2014, agreed with Crypto Wizard’s view about XRP’s outlook. Responding to the post, he shared a GIF suggesting XRP would be “printing money” continuously for holders in the coming days.
In August, Michael disclosed that he expects to net as much as $1.5 million in profit from his XRP position should the asset reach $2. In recent comments, he cautioned XRP holders against selling their holdings, emphasizing that after holding for seven years, it would be unwise to sell right before a breakout.
He believes XRP is just starting to surge, and those who sell now risk missing out on significant gains ahead.