XRP price reflects the previous penultimate rise of the bull market, will the rally continue?

After a massive increase in the price of XRP, optimism about the altcoin’s future performance is significantly increasing in the community, as evidenced by several pieces of evidence bullish forecasts from crypto analysts about its potential for more upside, possibly reaching a new all-time high in the current market cycle.

Similarities between the current trend of XRP and the past market trend

Given XRP’s significant growth over the past few days, speculation about the next price direction has increased significantly. However, Master Kenobi, a market expert and investor, did so divided Insights into the discussion that underscore that the altcoin may be moving in line with previous performances that led to the formation of its current all-time high.

After carefully examining XRP’s weekly chart to determine its next possible path, Master Kenobi highlighted that the asset started rising after about 204 days in the current cycle after the Bitcoin halving event. Meanwhile, over the past two market cycles, it took 224 days for the altcoin to experience a notable rally, confirming the aforementioned market acceleration.

As a result, the expert claims that the current price movement of XRP is more in line with the penultimate bull market than the last, suggesting that a similar rally to a new all-time high could be on the horizon. “This provides an interesting basis for speculation about a similar development,” he said.

Since then, Master Kenobi has ignored the last bull cycle and expanded his focus primarily to the older or penultimate pattern bull marketHe has pointed out important and confirmed factors that show that this ongoing cycle reflects the trend in three different phases.

For the first phase, he warned of a decline in the coming days, probably to $1.39, after the recent huge rise. In the second phase, Kenobi believes that after this correction, a new rally could emerge once the price interacts with the white trend line shown on its chart, which in this case could lead to an increase AltcoinValue at the $8.1 milestone.

Furthermore, the final phase assumes that once the price level of $8.1 is reached, a prolonged period of consolidation is likely to occur before a final increase in the next 200 days, which will see the asset rise around mid-October next could rise close to the $11 mark this year.

A new peak in this cycle possible?

XRP continues to receive great trust from the crypto community. Jack The Ripper, an analyst and developer, has expressed great optimism about the altcoin. predict that it could reach a minimum value of $10 in 2025.

While Jack The Ripper expects the asset to reach this level by 2025, another market expert, KingXR,P Claims that the $10 mark could be reached within the next two days breaks out from a bullish triangle pattern. More broadly, the expert expects the price of the altcoin to reach $54 in the coming days.

Featured image from YouTube, chart from Tradingview.com