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The cryptocurrency market exploded in the past 24 hours. Almost all of the cryptocurrencies are trading in the green, and Ripple’s XRP is no exception.
Now, a popular analyst has come up with a rather bullish price prediction, but some other metrics are also worth watching.
Ripple (XRP) Price Can Go Crazy
According to DustyBC, a well-known analyst with over 150,000 followers on X and across other channels, the XRP price could go “crazy.”
His chart, although rather simple, shows XRP trading towards the upper boundary of a flag pattern, which, if broken to the upside, could propel a move toward $2. This would mark an increase upwards of 3X from the current level.
As CryptoPotato reported yesterday, XRP’s gains topped 9% on a weekly basis, and the bias is leaning toward bullish. The momentum might be better, but if the cryptocurrency is indeed to break the pattern to the upside, this could result in increased volume and subsequent gains.
What About Other XRP Metrics?
A notable decline in some on-chain metrics can be noticed.
For example, the number of payments from one account to another has declined by 26% over the past week.
The number of active accounts (unique senders) is also down by more than 50% in the past day.
The number of transactions executed on the XRPL dropped as well today and it’s interesting to monitor if this is because of the lower activity during the weekend or if some sort of a more worrying trend is forming.
This article first appeared at CryptoPotato
