It’s a surprising performance for XRP in the crypto market today, alone during the weekend rally led by Bitcoin’s attempt to breach the $65,000 mark.
XRP made a high of $0.6304 but closed a bit lower at $0.6131. Even the slightest drop in this asset seemed to not deter its upward momentum, which continues to gain much attention.
Analysts are highly positive about the future of the altcoin, estimating a in the next three months. The top analyst, Bobby A, believes that the value of XRP could go as high as $33. The reason for this projection by experts includes such technical bullish signs and strong momentum in the market.
According to Bobby A, the formation of this breakout pattern on the monthly chart may be what XRP needs to drive a substantial price surge once it finally breaks above current resistance levels.
An explosive charge ready to go high order. ⚒️
— Bobby A (@Bobby_1111888)
His initial target is $0.8722, which was a 45% increase from its current price of $0.6014. Achieving this target would confirm a transition from a long-term bearish trend into a bullish one, setting the stage for further gains.
This far-reaching milestone would not stop Bobby A from surmising that the cryptocurrency will surely aim for higher targets, including $1.34 and $1.72, once it picks up momentum.
Short-Term And Medium-Term Outlook
Projections for Bobby A go beyond the short term. After the coin has broken above $0.8722, it is projected to gun for targets of $1.34 and $1.72, respectively. These are both key resistance areas that XRP has to break for it to establish a new bullish trend.
The path to these targets is not going to be smooth, though. Several resistance levels, all the way up to the previous all-time high above $3, were identified that XRP will have to break before ever reaching those targets.
XRP market cap currently at $33.4 billion. Chart:
To add to the positive view, another crypto analyst with the alias DustyBC pointed out that XRP was forming a symmetrical triangle in its chart. A consolidation pattern would slope the upper trendline downwards and the lower trendline upwards.
According to DustyBC, if XRP manages to break out of this symmetrical triangle above the upper trendline, it could be interpreted to mean that the price is due for a major surge. This breakout might be needed to drive XRP up higher.
Looking forward further, the prospects of XRP are still decent in the long run. In another three months, it could appreciate by 24.97%, as CoinCheckup projects, driven by technical indicators that reflect strong momentum.
Source:
Its six-month forecast is simply explosive, provided that it stays consistent at 160% growth, reflecting robust bullish sentiment among traders.
The one-year projection comes in at almost double, at 99%. These long-term projections set the stage for possible large upward movements of XRP. When considering the long-term gains, it looks like XRP will be one of the most promising investments with large potential growth.
The recent performance and analysis by key experts do present promising prospects for XRP. Forecasting bullish and indicating enormous potential gains with technical indicators, XRP is bound to make some notable advances over the coming months. Key resistance levels will be important to monitor, with preparation in place for potential breakouts as XRP makes its strides in the dynamic crypto market.
Featured image from Pexels, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Read more
Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Close
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
