The outcome of a “20X rally” for a given asset, such as XRP or XLM, is contingent upon various factors such as market dynamics, adoption patterns, regulatory developments, and overall economic conditions. Before purchasing any asset, investors should research and assess their risk tolerance. Technical analysis still significantly influences market patterns and investor mood in the dynamic world of cryptocurrency investments. In the middle of the turbulent market, one analyst—Charting Guy—has drawn notice for his audacious forecasts about the future of two well-known digital assets: Stellar (XLM) and XRP.
Will XRP Rally “Melt” Faces?
Recently, Charting Guy tweeted that investors in XRP and XLM will soon have “melting faces” as he saw a possible $13 movement. This tweet went viral. This startling statement highlights his confidence in the upcoming bullish surge he sees for these cryptocurrencies.
$XRP & $XLM will melt faces very soon.
— Charting Guy (@ChartingGuy) March 27, 2024
2 coins that have traded sideways or as some say, “done nothing” for 6 years..
most people write them off as dead coins.
but, as a technical analyst, i don’t care too much about narratives or sentiment.
the charts tells the story. 🧵
His analysis points to a bullish trajectory for both XRP and XLM despite extended periods of consolidation and general market skepticism. Because of these assets’ poor performance in recent years, some market participants have dubbed them “dead coins.” Still, Charting Guy is unfazed by sentiment-driven narratives and concentrates on technical indicators and chart patterns.
Possible Uprising in the Offing?
The expert’s analysis revealed that XRP and XLM have demonstrated symmetrical triangle formations, indicating possible breakout chances. These patterns have been building for six years, and they are among the most remarkable formations Charting Guy has seen, suggesting tremendous potential for price movement.
His forecasts have XRP’s breakout goal between $10 and $13, representing a significant gain of up to 2,000%. Similarly, Charting Guy thinks that XLM might move in a similar direction and hit $13.
Positive Long-Term Outlook for XLM and XRP
These are lofty short-term goals, but Charting Guy sees farther ahead than the present market cycle. Though he admits this might not happen in the upcoming years, he raises the prospect of XRP hitting $38.
However, he is still bullish about XRP and XLM’s long-term prospects and believes both stocks will reach a three-digit value in the next ten years.
His bullish view is based on more than just technical analysis; it also considers the possible roles that XRP and XLM may play in the new financial environment. In light of the growing acceptance of central bank digital currencies (CBDCs) and the possibility of upending established financial institutions, Charting Guy thinks that XRP and XLM have a big future in the financial industry.
