Bitcoin analyst Davinci Jeremie, known for his skepticism toward XRP, has acknowledged the possibility of a massive price surge for the token.

While he remains critical of XRP as a cryptocurrency, he admitted that technical analysis paints a bullish picture.

Bitcoin analyst Davinci Jeremie, known for his skepticism toward XRP, has acknowledged the possibility of a massive price surge for the token. While he remains critical of XRP as a cryptocurrency, he admitted that technical analysis paints a bullish picture.

“I’m not a fan of XRP, and I believe XRP is a bad idea as a cryptocurrency. However, technical analysis doesn’t care about my opinions,” Jeremie stated. He pointed out that the charts suggest the cryptocurrency could go a lot higher despite his personal stance.

Currently, the token is trading at $2.37, having dropped 10.22% in the past month. However, Jeremie sees the potential for a rapid reversal. He expects the cryptocurrency to break above the $3 mark soon and believes a long-term rally could push prices as high as $20.

XRP = +20 USD EACH!!

I’ll admit it: XRP’s about to break $3. I know, I’m not a fan either, but technical analysis doesn’t care about my opinions.

Will it hit $20? Maybe. The market doesn’t always follow logic, but it sure knows how to surprise us. Think it’s impossible?… pic.twitter.com/u578i7ZVb9

— Davinci Jeremie (@DavinciJrm) August 16, 2024

XRP’s Market Cap Could Reach Trillions

Jeremie’s $20 target would put its market capitalization at a staggering $2 trillion, a milestone that only Bitcoin has achieved in the crypto space. He emphasized that market movements don’t always follow logic, leaving the door open for even higher prices.

“The market has a way of surprising us,” he remarked, suggesting that it could surpass $20 in the future. This prediction comes amid growing interest in altcoins, with several analysts expecting a major crypto rally in the coming months.

Another well-known crypto analyst, Dark Defender, has offered an even more ambitious outlook for the cryptocurrency. Using Elliott Wave theory, he suggests that it could surge past $77.7 during this market cycle.

XRP’s Multi-Wave Rally Could Hit Double and Triple Digits

Dark Defender’s analysis relies on Exponential Fibonacci levels and a five-wave impulse structure. According to him, Wave 3—the most powerful phase of the cycle—will likely push XRP between $5 and $8 before reaching $18 to $23.

Once Wave 5 begins, the cryptocurrency could enter three-digit territory, with an upper range of $77.7 based on Fibonacci extensions. Such an increase would not only surpass its previous all-time high of $3.84 but also solidify its position as a major player in the crypto market.

“As for median levels, after touching $8, we can expect XRP to run towards $18-23 levels,” Dark Defender stated. He cited key technical indicators, such as Relative Strength Index (RSI) trends and momentum signals, as evidence of strong bullish pressure.

Another crucial factor in Dark Defender’s analysis is volume clusters, which point to significant accumulation zones. Historically, these accumulation phases have preceded major crypto rallies, reinforcing the idea that the cryptocurrency is on the verge of a parabolic move.

Highlighting the potential for a partnership with SWIFT, a global financial messaging network, some analysts believe that the token could reach $1,000 if it secures such an adoption. This would require massive XRP reserves for real-time liquidity in cross-border payments, further fueling institutional demand.