Echoes Of 2017: Fibonacci Paints A Bullish Picture<\/strong><\/h2>\nForecasts from Cryptobilbuwoo are inspired by past trends, especially the XRP surge of 2017. Using a standard technical analysis tool, Fibonacci retracing levels, they observe a perhaps similar situation developing for the altcoin.<\/p>\n
Think of a road map to the top.<\/span> Fibonacci levels serve as milestones, pointing possible areas of opposition or encouragement throughout a price increase. Based on the crucial Fib. 1.618 level, Cryptobilbuwoo advises XRP could surpass the $33 barrier.
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This would be a significant step forward, but the real climb comes next – a projected ascent to $589, based on the Fib. 2.382 level.<\/p>\n
A Lofty Target: Can XRP Reach The Top?<\/strong><\/h2>\nStill, there is a major obstacle to go past. The coin would need a startling price rise of almost 100,000% to reach $589.<\/span> Many market analysts are questioning this high aim. Some might regard this as more wishful thinking than a reasonable market forecast.
\n<\/span><\/p>\n![](\"https:\/\/www.tradingview.com\/x\/AMt0heki\/\")
XRPUSD is currently trading at $0.49. Chart: TradingView<\/a><\/figcaption><\/figure>\nOther observers in the crypto market hold a different opinion and say XRP<\/a> might potentially reach zero. Even if this situation looks severe, it emphasises how erratic the bitcoin market is by nature.<\/p>\nData from Coangecko indicates that XRP was trading at $0.5004 at the time of writing, down 1.4% and 4.2% in daily and weekly timesframes.<\/span>
\n<\/span><\/p>\nMeanwhile, in the XRP community, the $589 narrative used to be the main focus. The community’s excitement to see XRP at $589 is evident in the tweet below:<\/p>\n
\nIt seems that most of the XRP community would hate to wake up tomorrow to a $589 XRP, as this would mean they could no longer accumulate it. But then again $589 is still cheap and actually nothing compared to what is actually coming! pic.twitter.com\/hvySrx0RpY<\/a><\/p>\n\u2014 Dr. Huber\ud83d\udd25\ud83e\udd85\ud83d\udd25 (@Leerzeit) May 7, 2024<\/a><\/p><\/blockquote>\nSigns Of Optimism: Fueling The Ascent?<\/strong><\/h3>\nThough there is doubt about the $589 target, XRP shows encouraging developments.<\/span> Resiliently hovering above the psychologically significant $0.50 mark, the coin has shown consistency.
\n<\/span><\/p>\nInvestors shifting XRP off exchanges has also become a trend. This would point to a more long-term optimistic view and might lower selling pressure.<\/p>\n
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<\/p>\n
This would be a significant step forward, but the real climb comes next – a projected ascent to $589, based on the Fib. 2.382 level.<\/p>\n
A Lofty Target: Can XRP Reach The Top?<\/strong><\/h2>\nStill, there is a major obstacle to go past. The coin would need a startling price rise of almost 100,000% to reach $589.<\/span> Many market analysts are questioning this high aim. Some might regard this as more wishful thinking than a reasonable market forecast.
\n<\/span><\/p>\nXRPUSD is currently trading at $0.49. Chart: TradingView<\/a><\/figcaption><\/figure>\nOther observers in the crypto market hold a different opinion and say XRP<\/a> might potentially reach zero. Even if this situation looks severe, it emphasises how erratic the bitcoin market is by nature.<\/p>\nData from Coangecko indicates that XRP was trading at $0.5004 at the time of writing, down 1.4% and 4.2% in daily and weekly timesframes.<\/span>
\n<\/span><\/p>\nMeanwhile, in the XRP community, the $589 narrative used to be the main focus. The community’s excitement to see XRP at $589 is evident in the tweet below:<\/p>\n
\nIt seems that most of the XRP community would hate to wake up tomorrow to a $589 XRP, as this would mean they could no longer accumulate it. But then again $589 is still cheap and actually nothing compared to what is actually coming! pic.twitter.com\/hvySrx0RpY<\/a><\/p>\n\u2014 Dr. Huber\ud83d\udd25\ud83e\udd85\ud83d\udd25 (@Leerzeit) May 7, 2024<\/a><\/p><\/blockquote>\nSigns Of Optimism: Fueling The Ascent?<\/strong><\/h3>\nThough there is doubt about the $589 target, XRP shows encouraging developments.<\/span> Resiliently hovering above the psychologically significant $0.50 mark, the coin has shown consistency.
\n<\/span><\/p>\nInvestors shifting XRP off exchanges has also become a trend. This would point to a more long-term optimistic view and might lower selling pressure.<\/p>\n
\n<\/span><\/p>\n
Other observers in the crypto market hold a different opinion and say XRP<\/a> might potentially reach zero. Even if this situation looks severe, it emphasises how erratic the bitcoin market is by nature.<\/p>\n Data from Coangecko indicates that XRP was trading at $0.5004 at the time of writing, down 1.4% and 4.2% in daily and weekly timesframes.<\/span> Meanwhile, in the XRP community, the $589 narrative used to be the main focus. The community’s excitement to see XRP at $589 is evident in the tweet below:<\/p>\n It seems that most of the XRP community would hate to wake up tomorrow to a $589 XRP, as this would mean they could no longer accumulate it. But then again $589 is still cheap and actually nothing compared to what is actually coming! pic.twitter.com\/hvySrx0RpY<\/a><\/p>\n \u2014 Dr. Huber\ud83d\udd25\ud83e\udd85\ud83d\udd25 (@Leerzeit) May 7, 2024<\/a><\/p><\/blockquote>\n Though there is doubt about the $589 target, XRP shows encouraging developments.<\/span> Resiliently hovering above the psychologically significant $0.50 mark, the coin has shown consistency. Investors shifting XRP off exchanges has also become a trend. This would point to a more long-term optimistic view and might lower selling pressure.<\/p>\n
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Signs Of Optimism: Fueling The Ascent?<\/strong><\/h3>\n
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