In a recent chart analysis published on TradingView, a renowned crypto analyst, oaksacorn, has sparked excitement within the crypto community by making bold predictions for XRP’s future price movements in correlation with Bitcoin’s trajectory. The chart, titled ‘Jesus Christ, Mr. Pool & Biggie Smalls,’ provides a captivating analysis of XRP’s potential gains.

A Bullish Scenario Unfolds

Oaksacorn’s analysis commences by drawing parallels between Bitcoin (BTC) and its 2015 price cycle, suggesting that BTC might be following a similar trajectory. According to this hypothesis, BTC could reach an astonishing $215,000 by September 2024, which, if realized, could pave the way for XRP to surge to $43. This optimistic outlook hinges on BTC’s historical price patterns.

The Game-Changing Forecast

What truly grabs the attention of the crypto community is oaksacorn’s subsequent forecast. By extrapolating Bitcoin’s 2015 to 2017 cycles, the analyst speculates that BTC could reach an astronomical $1,247,000. From this projection, oaksacorn suggests that XRP could potentially reach an eye-popping $249. To put this into perspective, achieving this price point would necessitate an astonishing 48,025% rally in XRP’s value. Understandably, market participants remain skeptical due to the sheer magnitude of this potential surge.

Unveiling the CM Ultimate MA Indicator

Oaksacorn’s analysis heavily relies on a custom indicator known as the CM Ultimate MA, developed by the seasoned analyst Chris Moody. This unique indicator employs complex algorithms and leverages moving averages to analyze an asset’s price movements effectively.

The Power of CM Ultimate MA

When XRP is in a downtrend, the CM Ultimate MA indicator signals a red sign, indicating a bearish phase in the market. Conversely, when XRP embarks on an upward trajectory, the indicator illuminates a green sign, symbolizing a bullish sentiment.

At the time of oaksacorn’s analysis, XRP exhibited a red sign on the CM Ultimate MA indicator, suggesting that a potential downtrend was in progress. However, the analyst speculates that once the green signals appear, it could herald the beginning of XRP’s ascent towards the coveted $249 mark.

XRP’s Path to $249

The projected journey towards this remarkable price point initiates with an initial target of $7. If XRP successfully breaches this level, the next milestone on its path would be $34. Nonetheless, oaksacorn anticipates a minor retracement following the $34 high, followed by a period of consolidation. This consolidation phase could mark a time of gathering strength before the ultimate push towards the $249 price target.

Achieving $249 for XRP would necessitate a surge of 48,025% from its current price of $0.5174. While such a rally is not entirely unprecedented for XRP, replicating it this time poses unique challenges due to the asset’s current valuation.

Conclusion: The Crypto Community Watches Closely

As the crypto community closely monitors these predictions, it’s important to remember that the cryptocurrency market is highly speculative and subject to rapid fluctuations. Oaksacorn’s analysis provides an intriguing perspective, but investors and traders should exercise caution and conduct their own research before making any investment decisions.

In the world of cryptocurrencies, surprises are not uncommon, and the market can change rapidly. Whether XRP reaches the astonishing $249 mark or not, it’s certain that the crypto landscape will continue to captivate the imagination of investors and enthusiasts worldwide.