Veteran market analyst Tony “The Bull” Severino has made a bold prediction regarding the future price of XRP, forecasting a potential rally that could see the asset surge to $13.4 if a developing bull flag pattern plays out as expected. Severino, a Chartered Market Technician with over 15 years of trading experience, suggests that XRP could experience one of its most impressive rallies in recent years.
XRP’s Bull Flag Formation
Severino’s prediction is based on a potential bull flag pattern forming on XRP’s daily price chart. For context, XRP experienced a significant surge in the wake of Donald Trump’s victory in November 2024. The coin, which traded at $0.4956 on November 4, skyrocketed to a seven-year peak of $2.9 by December 3, marking an astonishing 485% rise in just one month. This surge created a flagpole on the chart.
However, after reaching its peak at $2.9, XRP underwent a pullback, dropping back to the lower $2 range, where it has since consolidated. Severino believes that this consolidation could be the formation of the bull flag, a pattern typically indicating the possibility of a continued uptrend. The pattern forms when an asset experiences an initial rally, followed by a period of consolidation, and then a breakout to the upside.
The Bullish Prediction
While Severino cautions that the pattern could also signal a descending channel rather than a bull flag, he remains optimistic that the breakout, if the bull flag holds, could lead to an explosive surge in XRP’s price. Bull flags typically signal a resumption of the previous uptrend, with the breakout often mirroring the magnitude of the initial rally.
In this case, with XRP having surged 485% from November to December 2024, Severino’s chart suggests that the breakout could lead to another 485% increase from the current price. This would push XRP’s price up to a target of $13.4.
Potential Market Impact
A rise to $13.4 would not only represent a dramatic increase in XRP’s value but also push its market capitalization to over $769 billion, which would place it ahead of Ethereum in market value. This ambitious price target has caught the attention of many traders and investors, especially given XRP’s recent recovery and bullish indicators.
One of the key signals supporting Severino’s bullish outlook is XRP’s quarterly Relative Strength Index (RSI), which has surpassed the 70 mark. The last time this occurred was in January 2018, just before XRP reached its all-time high of $3.31. Additionally, XRP recently closed its first-ever yearly candle above $2, further fueling optimism for the digital asset.
XRP’s Current Position
At the time of writing, XRP is trading at $2.52, maintaining a strong position in the market while Bitcoin struggles to stay above $95K. Despite the ambitious nature of Severino’s target, the pattern and indicators suggest that XRP could be poised for a major breakout, making it an asset to watch in the coming weeks.
As the cryptocurrency market continues to evolve, XRP’s performance could signal a new phase of growth, and the potential for a rally to $13.4 may not be as far-fetched as it initially seems. Investors and traders alike will be keeping a close eye on how this bull flag develops, with the possibility of significant gains on the horizon if the pattern plays out.
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