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- XRP price’s long-term growth projection highlights a $64 target by 2032, supported by a bullish pennant pattern.
- Technical analysis indicates XRP’s extended bullish cycle, with RSI nearing its all-time high zone.
Weslad, a prominent TradingView cryptocurrency analyst, just published an analysis that shows XRP has a fascinating rally potential, with a long-term estimate of $64 by 2032.
This prediction is based on a bullish pennant pattern and a strong continuation setup that includes a previous bullish surge (which makes the pole) and a consolidation phase (which makes a triangle).
The analysis highlights that, when measured, this trend indicates that XRP is headed towards a somewhat optimistic direction. Weslad emphasizes that they will regularly update the monthly chart to track XRP’s development.
RSI Signals and Historical Trends Align with Bullish XRP Outlook
Approaching its prior all-time high (ATH), the Relative Strength Index (RSI) is a crucial signal supporting this view. This historical history aligns with significant rallies, thereby increasing the likelihood of XRP surpassing its previous all-time high (ATH) of $3.28. Supported by several technical indicators, Weslad’s analysis shows XRP starting an extended bullish cycle.
Fascinatingly, this corresponds with reports on July 23, 2023, of XRP trading close to $0.47. Emphasizing the enormous long-term growth potential revealed by technical analysis, Weslad cautioned against selling XRP at such low levels at the moment.
Given the amazing upward price behavior of the coin, individuals that hang onto their XRP investments have profited greatly, so the advice seems well-founded.
Meanwhile, as of writing, XRP is trading at $2.64; it has seen an 85.70% gain over the last 7 days and a 420.66% growth over the last 30 days.
Complementing the positive sentiment, the recent report from Crypto News Flash (CNF) shows a rise in whale activity. Large-scale XRP transactions into and out of exchanges have most certainly surged during the past month. This increased whale activity has greatly aided XRP’s increasing momentum.