XRP Surges to Highest Level Since November, Sparking Rally Predictions
XRP has been showing impressive strength recently, establishing itself as one of the top-performing cryptocurrencies by market cap. The digital asset experienced a surge, reaching its highest level since November and attracting attention from analysts who predict that this could be the start of a much-anticipated rally.
An Optimistic Forecast for XRP
Cryptocurrency analyst and trader Dark Defender shared his positive outlook for XRP with the community on social media. According to Dark Defender, XRP recently broke out from a strong resistance, confirming his expectations. The breakout occurred from a symmetrical triangle pattern that had been forming for six years, indicating a phase of consolidation.
The Start of the Much-Awaited Move
Dark Defender emphasized that the monthly time frame clearly shows that the anticipated move has begun. Additionally, the daily time frame confirms the breakthrough of the significant resistance level at $0.6649. Based on these observations, Dark Defender set his targets closer to the mid-resistance around $1.33 and placed Fibonacci price targets at $1.88 and $5.85 in the coming weeks.
Predictions for April
Dark Defender encouraged the community to be alert for solid price movements in the upcoming week and stated that April would be a hot month for XRP. This suggests that significant gains can be expected throughout April.
Currently, XRP is trading at $0.6897, showing a weekly increase of over 12%. However, its market cap and trading volume have decreased by 1.58% and 57% respectively in the last 24 hours.
Expert Advises Against Including XRP in Your Portfolio
Despite XRP’s recent rally, cryptocurrency expert Jason Pizzino warned against investing in the token. Pizzino advised the community to avoid adding XRP to their portfolios, stating that it still needs to increase by more than 2600% to match Bitcoin’s peak in 2017. He also highlighted that XRP had achieved a 500% increase in the previous cycle and is now only 30% away from its low during the SEC lawsuit.
Pizzino believes that the main advantage of influencers discussing XRP is that it keeps a large audience interested in the project. However, he remains skeptical about optimistic price projections that never materialize.
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