Analyst predicts XRP price surge if Ethereum hits the $10K milestone, Solana reaches $950, and BNB clinches a $1,700 price.
The crypto market’s ongoing recovery has placed a spotlight on several top tokens, including XRP, Ethereum, Solana, and Binance Coin (BNB).
Recent price movements have driven analysts to project significant gains, particularly for XRP, which has seen a 2% rise in the past week. Analyst Erwin has notably set an optimistic target of $5 for XRP, conditional on a broader rally in major tokens such as Ethereum, Solana, and BNB.
Here are my price targets for the huge bull run that’s about to start: $BTC ➟ $120,000 $ETH ➟ $10,000 $TAO ➟ $2,100$BNB ➟ $1700$SOL ➟ $950$INJ ➟ $175$LINK ➟ $150 $RNDR ➟ $75$NAKA ➟ $50$RIO ➟ $40$PROPC ➟ $30$FET ➟ $20 $XRP ➟ $5$ROSE ➟ $2$VRA ➟ $1…
— Erwin (@CryptoErwinNL) September 24, 2024
XRP Targets and Resistance Challenges
It is important to note that XRP’s price movements feature a prolonged consolidation pattern and notable resistance levels.
Earlier this month, analyst Dark Defender highlighted that XRP has been held down by a downward-sloping resistance line that has persisted for years. This trendline had repeatedly tested XRP’s ability to break free from its current range, creating a challenging environment.
Dark Defender’s analysis included key Fibonacci extensions, with XRP currently surpassing the 23.6% level at $0.3941. Per the report, the next critical points to watch are 70.2% at $0.6640 and 100% at $0.9327. A breakout above these levels could signal a potential bullish momentum shift, reaching levels above $5.
However, predictions vary, with some fintech specialists forecasting that XRP could close 2024 at $0.66, but potentially rise above $6 by 2030, presenting long-term investment opportunities.
Ethereum’s Path to $10,000
Per Erwin, Ethereum’s performance is seen as a critical factor for XRP’s potential surge. Its potential to reach $10,000 has been a focal point among analysts, including Kaleo. He previously emphasized the impact of Bitcoin’s halving events on Ethereum’s price trajectory.
At the time, Kaleo noted that Ethereum’s cyclical behavior suggests a prolonged consolidation phase until the Bitcoin halving, which occurred in April. The analyst suggested the halving could bring about significant price movements in late 2024 or early 2025.
#Ethereum / $ETH roadmap to $10K.
Keeping it simple. Expect plenty of volatility within the base range through the next BTC halving, but it’s time to accept that we’re in a crab market.
No price discovery until late 2024 / early 2025. pic.twitter.com/TZAmvQ5Biv
— K A L E O (@CryptoKaleo) July 11, 2022
Following past trends, similar post-halving surges have propelled Ethereum to new highs, such as the over $4,000 mark observed after the 2020 halving. Additionally, analysts like Milkybull Crypto attribute future rallies to Ethereum Spot ETFs.
Potential Upside for Solana and BNB
Solana (SOL) also features in Erwin’s forecast, with some experts predicting substantial gains. Another prediction above Erwin’s was from expert Ali Martinez, who anticipated a 900% surge to $1,500.
BNB’s outlook is similarly bullish, with analyst TLC Crypto noting a consistent upward channel since 2017. With XRP at $5, BNB could outperform Ethereum, with projected highs of up to $14,000, although a nearer target by Erwin places BNB at $1,700.