thecryptobasic.com
Widely followed media personality Ben Armstrong, known as BitBoy, has proposed two possible timelines for when he believes XRP could reach $4.50.
After XRP surpassed the $2 mark in the first week of December, it has remained stuck in a range, unable to break above that level. Just three days ago, XRP revisited its 2021 peak at $1.90 before rebounding.
Although XRP has bounced back to the $2 mark, it continues to struggle in gaining the momentum needed to push higher. At the same time, holders are growing increasingly anxious, hoping for a fresh catalyst for XRP’s price movement.
As a result, market commentators like BitBoy have offered some optimism regarding how long the wait might be. According to him, XRP looks poised for a breakout, suggesting it could rally to $4.50 by the end of this year, which is just two weeks away.
However, if this scenario doesn’t play out, BitBoy believes the milestone could be reached by January 2025.
This bold timeline has sparked both optimism and excitement among the XRP Army. With XRP priced at $2.34, reaching $4.50 would mean an additional 92.3% upside for current holders.
Critics Disagree
However, some have expressed skepticism regarding XRP’s short-term outlook. Critics have challenged BitBoy’s prediction, pointing out that he provided no technical data or chart analysis to back his claim.
One observer highlighted that XRP has formed a double top and a lower high, using this observation to argue that XRP is not poised for a breakout anytime soon.
This sentiment has gained traction, with some suggesting that now might still be an optimal time to exit the XRP market while in profit.
Other Bullish Calls for XRP Short-Term Action
Regardless of the skepticism, bullish sentiment regarding XRP’s next move continues to flood the crypto community. Multiple analysts continue to reiterate that a significant rally is reloading for XRP, just as was witnessed in November.
One analyst suggested that XRP’s next breakout could see the asset hit $5 as early as December 20. The motivation for this bold timeline is the time it took XRP to break out of the $1 range in the last week of November, rising to its seven-year high at $2.87 in the first week of December.
Meanwhile, analyst Ali Martinez has predicted that XRP could reach $4.40 next, highlighting that the asset is forming its fourth bullish pennant. The previous instances occurred in November, during which XRP climbed from $0.68 to $1.2, followed by a correction and a rise to $1.50.
Another cooling phase eventually led XRP to surge to $2.87. Based on this pattern, Martinez expects the current period of consolidation to precede another upward move, with $4.40 being the target for XRP.