XRP Analyst Predicts ‘Now or Never’ Moment for Price Breakout
A popular Bitcoin and crypto analyst named Muro has recently joined the XRP bandwagon, suggesting that now is the time to go long on the XRP price. Despite various predictions about the direction of XRP in the coming years, Muro only noticed a price breakout at the end of November.
Technical Analysis Points to a Breakout
Muro believes that the XRP price is on the verge of exploding based on technical indicators. On November 23, he made his stance clear when XRP broke above the $0.6 region after a period of consolidation. Muro compared XRP’s breakout to that of ETH and SOL and expects it to continue moving upwards without testing the consolidation low of $0.58. His price chart suggests a potential target around $0.8.
XRP Tests Patience but Breakout Remains Possible
Muro provided an update on his trade on December 5, stating that he bought XRP with a tight stop below recent lows. However, he noted that XRP has been consolidating since then, testing his patience. Nevertheless, Muro continues to believe in a ‘now or never’ moment for XRP based on technical analysis.
$XRP typically testing patience again since last night’s entry, I usually don’t trade this coin but TA wise it said to me that now or never, let’s see pic.twitter.com/uPAk9Q03xd
— Muro (@MuroCrypto) December 6, 2023
Potential Breakout for XRP Price?
While the XRP price has been consolidating in recent weeks, many analysts, including Muro, predict a breakout. XRP is currently trading at $0.6429 and has seen a 5.25% increase since the start of December. The Coincodex Fear & Greed Index indicates a bullish sentiment with a greed score of 72.
Another popular XRP analyst, ERGAG CRYPTO, predicts an imminent breakout towards the $1.30 to $1.50 range using the 0.5 Fibonacci level. Additionally, Jaydee sets a longer-term price target of $20 for the next year.
XRP Aims to Overtake BNB in Market Cap
XRP is on its way to becoming the fourth-largest cryptocurrency by market cap, surpassing BNB. Currently, XRP has a market cap of $34.6 billion, less than $1 billion away from BNB’s market cap of $35.5 billion.
Hot Take: XRP’s Breakout Potential Increases Amidst Analyst Predictions
With the recent observations made by Muro and other analysts, it seems that XRP is poised for a potential breakout. Technical indicators suggest an upward movement in the XRP price, and despite consolidation, there is still optimism for a significant increase.
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