XRP Poised for a Bullish Surge, Technical Analyst Predicts
CrediBULL Crypto, a well-known technical analyst, is confident that XRP has a promising future ahead, despite its current lag behind other leading cryptocurrencies.
In a recent post on social media platform X (formerly Twitter), CrediBULL highlighted bullish divergences on the three-day chart for both XRP/BTC and XRP/ETH trading pairs, suggesting that a significant price surge could be on the horizon for XRP.
I’m still holding my position on XRP and have even added to it. Both XRP/BTC and XRP/ETH have confirmed bullish divergences on the three-day chart. The window of outperformance that I discussed in my previous update video may be just around the corner.
Furthermore, CrediBULL Crypto has set ambitious price targets for XRP, projecting a potential surge of approximately 250% for the XRP/BTC pair. This would bring the price to around 0.0000356 BTC ($2.55).
XRP’s Potential to Reach an All-Time High After the Bitcoin Halving
Supporting this bullish sentiment is another pseudonymous analyst known as Dark Defender. They believe that XRP has broken through a significant resistance level and could potentially reach new all-time highs above $1.
XRP experienced a breakout as we anticipated. Looking at the monthly time frame, it is evident that the move has begun. The strong resistance at $0.6649 has been breached on the daily chart. We expect this resistance level to be confirmed on the weekly and monthly charts. Our price targets are now closer to $1.33 (mid-resistance) and Fibonacci targets of $1.88 and $5.85 in the coming weeks.
Dark Defender also mentioned that April is expected to be a significant month, likely referring to the upcoming Bitcoin halving event. Interestingly, other technical analysts share the belief that XRP could experience a surge above $1 before or after the halving, which is considered a crucial event for the crypto industry and the Bitcoin community.
While XRP has not performed as well as other leading altcoins in this bullish market, its price is heavily influenced by Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The trial is scheduled for April 23, and the outcome of this case could have far-reaching implications for crypto regulations and the industry as a whole.
Currently, XRP is trading at $0.68, experiencing a 5% decrease from its previous high of $0.72.
Hot Take: XRP’s Bright Future
Despite its recent underperformance compared to other cryptocurrencies, there is growing optimism surrounding XRP’s future. Technical analysts are predicting a bullish surge for XRP, with potential price targets well above its current levels. Here are some key takeaways:
- CrediBULL Crypto believes that XRP is primed for a bullish phase and expects it to outshine other cryptocurrencies.
- The confirmation of bullish divergences on the three-day chart for both XRP/BTC and XRP/ETH pairs further supports this optimistic outlook.
- XRP has broken through a significant resistance level according to Dark Defender, potentially paving the way for new all-time highs above $1.
- The upcoming Bitcoin halving event in April adds to the anticipation surrounding XRP’s performance.
- Ripple’s ongoing legal battle with the SEC continues to impact XRP’s price, with the outcome of the trial expected to have significant implications for the crypto industry.
While XRP currently lags behind its peers, these bullish predictions suggest that it may have a brighter future ahead. Investors and enthusiasts will be closely watching XRP’s performance in the coming weeks, especially in light of the upcoming Bitcoin halving and the resolution of Ripple’s legal case.
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