A crypto analyst has an optimistic outlook for the XRP Pricethe native token of the XRP Ledger (XRPL)predicts a potential increase of up to 10,400% with a price target of $60. The analyst also outlined when this expected price increase can be expected.
XRP price to hit $60, 10,400% increase predicted
In an X (formerly Twitter) post On August 12, crypto analyst Brett Hill expressed optimism about the future price of XRP. The analyst suggests that XRP on the verge of a significant outbreakand could potentially drive the price to a new all-time high.
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He shared a diagram The price movements of XRP from March 2023 to 2025. Based on his analysis, the analyst predicts that XRP will reach a price range of $50-$60, which represents a significant increase of 10,400% from its current value.
While he bullish forecast for XRPHill pointed to XRP’s weekly Moving Average Convergence Divergence (MACD). The MACD is a trend-following momentum indicator used to identify entry and exit points for crypto traders.
The analyst announced that this unique indicator is currently showing a strong bullish momentum for XRPwhich solidifies the potential price increase to new all-time highs. He also highlighted Key support level at the mark of 0.5403 USD.
Hill predicts that XRP could potentially rise between $50 and $60 if it stays above the aforementioned support level. Since XRP is currently trading at $0.57, well above the crucial support level, this could mean that the $50-$60 price target could be reached in the coming weeks.
The analyst also confirmed that as long as XRP holds this support levelit is well positioned for “big gains.” Despite his rather ambitious and optimistic forecast for the cryptocurrency, Hill warns that investors should watch out for a resistance level of $0.6836.
He announced that if XRP can break this barrier, Resistance levelit could potentially trigger a strong upward momentum that could push the price even higher.
Analysts remain optimistic about XRP after legal victory
In an earlier X-post, Hill predicted that the XRP Ledger will experience explosive growth following Ripple’s recent price increase. legal victory through the U.S. Securities and Exchange Commission (SEC).
On August 8, the Southern District Court of the United States Ripple was hit with a civil fine of $125 million for violating securities laws by selling XRP to institutional investors. Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse sees the settlement fee as a significant gain, since the SEC had previously demanded a settlement of a whopping $2 billion.
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Following the court’s decision, analysts and market observers expressed optimistic forecasts for the future value of XRP. Crypto enthusiast Amelie disclosed that XRP’s newfound regulatory clarity would result in trillions of dollars flowing into XRPL projects.
In addition, a crypto analyst named “CryptoBull” on X projected a major bullish price target for XRP. According to the analyst, XRP could rise to a value between $13 and $46 within the next 1 to 18 months.
Featured image created with Dall.E, chart from Tradingview.com
