A market expert has shared what he believes is the reality price height for XRP should the crypto asset slip into a super cycle.
XRP has not fared well over the past few months despite previous chants of an imminent upsurge earlier in the year. With XRP down 3.6% this year, community commentator Zach Rector recently claimed factors such as the late resolution of the SEC case, late launch of XRP ETFs, and the delays with the Clarity Act stopped XRP from hitting its 2025 targets.
Now, despite XRP’s near-term struggles, having collapsed 32.64% over the past three months, market analysts like The Block Bull have maintained their bullish stance. In his latest analysis, The Block Bull shared what he believes may be XRP’s “realistic height” if a super cycle emerges, suggesting the token could reach $48.
XRP Price Action Around the Parallel Channel
Notably, the market watcher called attention to a parallel channel that has guided XRP’s price action since 2017. For context, XRP started retesting the upper trendline of this channel in mid-2017 when its price continued to hover around $0.005 to $0.008. Each time it retested the upper trendline, it found solid support until the price eventually surged to the $3.31 peak in January 2018.
The downturn that followed eventually pushed XRP below the upper trendline and inside the channel in late 2018. XRP remained within the parallel ascending channel, as it saw gradual price uptrend despite persistent struggles. Nonetheless, the 2022 bear market, exacerbated by the Terra and FTX implosions, led to a drop below the lower trendline of the channel.
With this, XRP lost the support at the lower end of the channel in 2022 and has continued to trade below the channel since then. However, the November 2024 surge to $2 allowed the price to start retesting the lower trendline, but XRP has faced persistent resistance at this level, failing to break into the channel.
XRP Could Target $48 Once It Re-enters the Parallel Channel
The Block Bull believes XRP has the potential to re-enter the channel, which would lead the price to greater heights. According to the analyst, XRP’s realistic height if the crypto asset slips into a super cycle rests around the $48 mark, which sits at the edge of the channel’s upper trendline. "Parallel Channel gives you greater targets to obtain," The Block Bull said.
With XRP currently changing hands at $2.05, a rally to $48 would culminate in a 2,241% increase from the current price of $2.05. However, The Block Bull noted that he believes holding to $48 is tough and most investors would start taking profit once XRP reaches $10. Despite the ambitious nature of the $48 target, analysts at Changelly expect XRP to reach that price in 2033.