Analysts predict XRP could see a significant price rise akin to Zcash's recent surge. Structural similarities in price patterns suggest a conservative target of $8 to $10. This outlook draws from ZEC's 60% weekly and 75% monthly gains.
Recent price analysis highlights intriguing parallels between XRP and Zcash (ZEC). Charts indicate XRP is forming long-term consolidation patterns similar to those ZEC exhibited before its breakout. Both assets experienced prolonged sideways trading against resistance levels, followed by a sudden upward movement.
ZEC soared approximately 60 percent within a week and 75 percent in a month, serving as a benchmark for XRP's potential. XRP's current range-bound activity above major resistance levels signals a possible imminent upward resolution. While ZEC's rise was rapid, XRP's trend suggests a more gradual bullish extension, leading to a conservative price target of $8 to $10 if the breakout occurs decisively.
Market responses to this forecast are mixed. Some in the community question XRP's intrinsic value compared to other cryptocurrencies, while others point to its regulatory clarity as a factor that could attract institutional buying. These divergent views underscore the tension between technical analysis and fundamental factors.
The projection's success hinges on XRP breaking out and sustaining higher trading levels. It also depends on market liquidity, broader economic conditions, and trends in the digital asset space. This comparative analysis with ZEC reinforces a medium-term bullish outlook based on historical price formations in major altcoins.