XRP Price Forecast: Why Ripple Is Heading to $9 as Analyst Calls It “Best Altcoin After Ethereum”

The XRP price has been stuck near $1.33 for weeks, but one analyst is looking way past this consolidation. Celal Kucuker says no matter which formation you look at, Ripple is heading to $9. He calls XRP the undisputed best altcoin after Ethereum. 

It is a daring statement from a coin which hasn’t traded above $9 since it made the all-time high back in 2018. However, as the weekly chart below shows, there is a tale to tell when it comes to Fibonacci numbers and broken resistance.

A Massive Weekly Structure Built for Years

We had a look at the XRP chart, and the setup is massive. The XRP price is at $1.3327 and is placed slightly higher than the 0.5 Fibonacci Retracement at $1.2791. This is an important support point which held its position for several weeks. Just below the level, there is a 0.382 retracement at $1.0171 and a 0.236 retracement at $0.7660.

Fibonacci Extension Levels shown on the graph extend to a maximum of 2.618 with a value of $78.20. However, realistic levels to look at include the 1.272 extensions at $5.72. At 1.414 extension, the value is $7.54. 1.618 extension is at $11.21 while at 2.0 extension.

Celal’s $9 target falls right between the 1.414 and 1.618 levels. That is not a random number. It is a clean Fibonacci extension that has worked as a target for other altcoins in past cycles.

The chart also shows a clear break of structure. Since its 2020 bottom at $0.11, XRP has been hitting progressively higher lows. Its retracements have been becoming progressively less pronounced, while its rallies have been breaking progressively higher Fibonacci levels. Its consolidation at the $1.33 level appears to be merely a resting point prior to the next upward movement.

Read Also: Crypto Price Prediction for Today, April 12: Toncoin (TON), XRP, Bittensor (TAO)

Why $9 Is Not Crazy

Celal calls XRP the best altcoin after Ethereum. That is a strong statement, but the fundamentals back up some of the confidence. The XRP Ledger is processing $1.77 billion in monthly stablecoin volume, up 92% in 30 days. 

RLUSD dominates that market with an 85% share. Real world assets on XRPL have climbed to $1.53 billion. The network is being used for more than just speculation.

The legal overhang that crushed the XRP price for years is gone. The SEC case ended with clarity. XRP is now classified as a digital commodity, not a security. That opens the door for institutional capital that was previously blocked. 

Spot ETF filings are already pending. If those get approved, the XRP price could see a similar move to what Bitcoin and Ethereum experienced after their ETF launches.

Where the XRP Price Goes From Here

The immediate resistance above is the 0.618 Fibonacci level at $1.6085. A break above that puts the 0.786 level at $2.2290 in play. Then the 1.0 level at $3.3776. That is the psychological barrier. Above $3.37, the path to $5.72, $7.54, and $9 opens up. Celal’s $9 target is the 1.5 extension roughly, right between the 1.414 and 1.618 levels.

The downside risk is a break below the 0.5 level at $1.2791. That would put the 0.382 level at $1.0171 as the next support. But the weekly structure has held above $1.27 for months now. The XRP price is coiled, not collapsing. Celal says no matter which formation you look at, Ripple is heading to $9. The Fibonacci chart agrees. The fundamentals are improving. The only missing piece is time.

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The post XRP Price Forecast: Why Ripple Is Heading to $9 as Analyst Calls It “Best Altcoin After Ethereum” appeared first on CaptainAltcoin.