Could XRP replicate Ethereum's historic pump? Analysts bullish to $60.

Recent analyst reports indicate that XRP is showing a structural trend similar to that of Ethereum in 2016-2017, attracting market attention. Ethereum skyrocketed from $20 to $1,400 after a long accumulation phase, while XRP is currently oscillating in the $2-3 range, believed to be in a similar accumulation phase.

Analyst Paul GoldEagle pointed out that XRP's rise in January this year (over 600% increase, to $3.40) is just the “tip of the iceberg”. The sideways consolidation suggests a potential parabolic rise, with a price target possibly reaching $60, equivalent to Ethereum's historic increase. Other analysts are also optimistic: EGRAG noted that if Ethereum reaches a long-term target of $33,000, XRP's next major target might be $33,000; CryptoinightUK believes that if Ethereum rises to $62,000, XRP could rise to $50. Several experts emphasize that the current consolidation phase is similar to the accumulation phase before Ethereum's breakthrough.

Market structure and regulatory environment remain key factors. Although Ripple has made progress in secondary market sales in 2023, there is still uncertainty regarding U.S. SEC regulation. Experts believe that if regulation remains neutral or is relaxed, XRP will have macro bull market momentum. The increase in liquidity from global partnerships and growing institutional interest may also support long-term gains. Technical trends, improvements in fundamentals, and market enthusiasm together create a potentially favorable outlook for XRP.

Overall, the trend of XRP is attracting more and more investors to follow, and its price potential is optimistic, with short-term fluctuations possibly nurturing a long-term breakout.