The world of cryptocurrency is no stranger to audacious predictions, and the latest buzz centers on XRP, which some analysts believe could see a meteoric rise of 11,745% in the coming weeks. Despite its prolonged price stagnation, one top analyst is convinced that XRP is gearing up to deliver “massive green God candles.” However, this bold forecast is met with skepticism across the crypto community.
Also read: Ripple Gains Momentum: XRP Targets 10% Rally Amid Supply Decline
XRP’s Recent Price Struggles
It’s been over a week since Ripple’s landmark lawsuit concluded, yet XRP’s price remains largely unchanged, hovering around $0.56.
Over the past 24 hours, XRP has dipped by 2%, with a week-on-week loss of 6.4%. On a larger scale, the cryptocurrency is trading 10% lower than it was a year ago.
Despite this lukewarm performance, crypto analyst Amonyx argues that XRP is simply preparing for an unprecedented surge.
Related: Can The Expected XRP Price Explosion Happen or not?
“Massive Green God Candles”
Amonyx recently took to X (formerly Twitter) to share a chart suggesting that XRP could witness enormous gains over an eight-week period. He projects the coin’s price could skyrocket to $57—a staggering increase of 11,745%. According to Amonyx, this massive growth could manifest in what he calls “green God candles,” referring to significant price jumps that compensate for extended periods of underperformance.
The concept of a “God candle” is typically used by crypto analysts to describe a situation where a long-suppressed asset finally breaks free, leading to explosive growth. Amonyx isn’t the first to float this idea regarding XRP.
Weeks ago, another analyst, DustyBC, predicted a similar surge, but with a target of $30. However, despite these bullish forecasts, XRP has remained stuck within a narrow range, leaving many investors unconvinced.
While these predictions may excite some traders, others remain doubtful. Critics have pointed out that previous “God candle” forecasts for XRP have failed to materialize. In response to Amonyx’s claims, some market participants have voiced their skepticism.
One user on X sarcastically noted that if they earned a dollar every time such a prediction was made, they would be a millionaire by now.
Moreover, despite Ripple’s recent legal victory, XRP’s price has yet to reflect any significant upward movement. This has led some investors to question whether there’s any realistic catalyst that could trigger such an explosive rally. As one commenter put it, “If XRP is still at $0.56 after winning the court case, what reason is there for it to rise from now on?”
The crypto market thrives on speculation, and while predictions of an 11,745% surge in XRP’s price are enticing, they should be approached with caution. As always, only time will tell whether XRP can deliver on the promises of these so-called “God candles” or if this is just another overly optimistic forecast that fails to come to fruition.
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