Market Analyst Predicts XRP Surge to $13.4 if This Pattern Proves True

A notable analyst predicts an XRP price rally to an ambitious two-digit figure if a suspected bull flag pattern proves true.

This commentary came from Tony “The Bull” Severino, a Chartered Market Technician and trader with over 15 years of experience. Severino believes the XRP price might be on the verge of an impressive rally.

He based his prediction on a budding bull flag on the daily XRP price chart. Severino’s chart indicates that XRP started forming the bull flag pattern following the impressive surge that occurred on the back of Donald Trump’s victory on Nov. 5.

XRP Forms 1D Bull Flag

For context, XRP, which traded for $0.4956 on Nov. 4, soared to a seven-year top of $2.9 on Dec. 3. This marked an impressive 485% increase in a month, XRP’s most bullish phase over the past few years. Data from the chart shows that this upsurge led to the formation of the flagpole.

However, from the $2.9 top, XRP price suffered a pullback, dropping to retest the lower end of the $2 territory and then consolidating at this psychological price mark. Severino believes this period of consolidation, which has lasted for another month, might represent the bull flag.

Despite his conviction, the market analyst remains uncertain, as this setup could merely mark a descending channel for XRP. However, if the bull flag structure plays out, he believes a breakout from the flag could push the XRP price to ambitious levels. 

For the uninitiated, bull flags typically form when an asset faces an exhaustion in its uptrend. Such exhaustion could last for weeks as buyers and sellers reach an equilibrium, leading to consolidation. However, with bull flags, the breakout is typically to the upside, resulting in a resumption of the upsurge. 

XRP Could Target $13

Moreover, the ensuing upsurge often equals the length of the previous rally. In this case, XRP witnessed a 485% increase from early November to early December. If the bull flag pattern holds true, Severino’s chart indicates that another 485% rise from current levels would push the XRP price to $13.4.

The analyst admitted that this region is significantly higher than even his top price target for XRP. Still, he maintained that despite the ambitious nature of this goal, it is not impossible to achieve. Notably, at $13.4, XRP’s market cap would exceed $769 billion, higher than Ethereum’s current valuation.

In addition to this potential bull flag, other indicators bolster Severino’s bullish outlook on XRP, especially as the asset records a recent recovery push. For one, XRP’s quarterly RSI has soared beyond the 70 mark. The last time this occurred was in January 2018, leading to the $3.31 all-time high. 

XRP Quarterly RSI over 70 for the second time in ten years pic.twitter.com/ZngH7Kuyqy

— Tony “The Bull” Severino, CMT (@tonythebullBTC) January 1, 2025

Moreover, XRP’s price recently closed a yearly candle above $2 for the first time in history. Currently, XRP changes hands at $2.52, leading the crypto market as Bitcoin remains below $95K