XRP top critics have reversed their stance and are bullish, predicting a short-term rise to $4.93!

Long-time skeptic of Ripple (XRP), Bitcoin early adopter Davinci Jeremie, unexpectedly gave a bullish forecast as XRP tests the $3 level again. His latest Technical Analysis indicates that XRP could reach $4.93 in the short term, which means the price is expected to double from current levels.

From Stablecoin Critics to Short-term Bullish

Jeremie has viewed XRP as a “stable coin” for many years, even predicting multiple times that its price would go to zero. However, between November 2024 and January 2025, the price of XRP soared by 580%, surpassing $3, leading him to change his stance.

At the beginning of this year, he first proposed that XRP could rise to a long-term target of 20–24 dollars in this cycle, but emphasized that this is not based on confidence in the fundamentals, but rather on market cycle momentum.

Technical Analysis: W Pattern and Fibonacci Targets

(Source: Trading View)

In the latest analysis, Jeremie pointed out that XRP has formed a clear “W” pattern on the weekly chart:

January: Retreating from the high point of 3.4 USD

April: Reached a low of $2.11

May: Rebound to 2.6 USD

June: Fell back to around 2 dollars again.

Recently: Broke through the high point of 3.4 dollars, completing the W pattern.

He believes that this trend is naturally formed and not manipulated, unlike the previous sharp rise.

Using the Fibonacci extension (1.618) for calculation, he has set a short-term target at 4,555 pesos and anticipates a slight breakout to the 4,700–4,761 pesos range (approximately 4.93 USD), followed by a possible pullback.

Long-term perspective: Is $24 still in sight?

Although this target of $4.93 is a short-term forecast, the market is paying attention to whether this is a waypoint for his previous long-term target of $24.

Jeremie remained bullish when XRP broke below $2, reiterating that it is expected to challenge $24 by the end of the year. However, he has repeatedly reminded investors that his optimistic outlook on XRP is limited to this cycle and does not imply that it is a safe long-term investment.

Conclusion

From years of bearish sentiment to a short-term bullish outlook, Davinci Jeremie’s attitude shift has added new discussion heat to the XRP market. The W-shaped breakout on the technical chart and the Fibonacci targets indeed provide theoretical support for a short-term rise. However, whether it’s the short-term surge to 4.93 USD or the long-term dream of 24 USD, investors must carefully assess the risks and pay attention to changes in market cycles. For more real-time market data and in-depth analysis, please follow the official Gate platform.