XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights. Analysts Anticipate XRP Breakout A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026. ‘Buy the Dip’ Opportunity? According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%. However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity. Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com
XRP has shown notable signs of renewed bullish momentum in the market. It bounced back from a significant 11% price drop on April 12th, which took the token to its lowest level of the year at $0.4230. However, last week saw a solid 12% price recovery, with XRP outperforming the other top 10 altcoins in the market, behind only Solana (SOL) and Binance Coin (BNB). Signs Of A Strong Bullish Trend Ahead For XRP? On Tuesday, XRP hit a high of $0.5571, demonstrating its bullishness and outperforming its peers. This resurgence was paired with a spike in wallet activity, a positive sign for the token’s overall market sentiment. According to the network intelligence platform Santiment, the number of wallets holding at least 1 million XRP has steadily increased over the past six weeks, rising by 3.1%. It is now just one wallet away from reaching an all-time high (ATH). Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End In addition, crypto analyst Ali Martinez reported a notable buying spree among XRP whales, who purchased over 31 million tokens in the past week alone. This has contributed to the cryptocurrency’s price recovery, emphasizing renewed confidence in its uptrend prospects. Regarding price action, market analyst Egrag Crypto points out that XRP has formed a double bottom pattern, considered a strong bullish signal. This pattern, combined with the transition of the consolidation zone into a supply zone and the wicking area into a demand and accumulation zone, indicates a promising outlook for the token, according to the analyst. Egrag Crypto is confident that a significant price spike or “thrust” is imminent, and the analyst has updated his target to $1.4 for XRP. Critical Resistance Levels To Watch Despite initial bullish outlooks for XRP, the token has retraced to the $0.5474 price level as of the time of writing, accompanied by a 14% decrease in market capitalization over the past 30 days. Moreover, as XRP aims to reach higher levels, potential resistance barriers may impede the token’s recovery and the bullish trend. Analyzing the XRP/USD chart below reveals the immediate resistance at $0.5644, which has prevented consolidation above current levels for the past week. Related Reading: The Cardano $1 Dream: Is A Price Explosion Coming Or Just Deja Vu? After that, the final obstacle before a retest of the $0.600 zone lies at the $0.5884 level. This level previously served as a support floor for the token, leading to a rebound during the uptrend seen in March, which took XRP to its yearly high of $0.745. Conversely, monitoring the support levels at $0.52910, $0.5184, and $0.5044 is crucial. If a bearish scenario develops in the coming days, these levels may prevent XRP from falling below $0.500. Featured image from Shutterstock, chart from TradingView.com
Despite XRP lagging in this early stage of this bull run, crypto expert Zach Rector has shared his belief and given reasons why the crypto token is still bound to perform well. He went as far as ranking the token up there with Bitcoin to drive home his point on why the token will make a run soon enough. “XRP Will Not Miss This Bull Run” Rector mentioned in an X (formerly Twitter) post that XRP will not miss this bull run. In the accompanying video, the crypto expert highlighted the crypto token’s fundamentals as one of the reasons he holds this belief despite XRP’s tepid price action. Rector further claimed that the token and XRP Ledger (XRPL) have some of the best fundamentals in the crypto space. Related Reading: Dogecoin Influencer Sounds Critical Warning Alarm For Scams Targeting The Community Rector even challenged his followers to mention any other crypto token with a better fundamental than XRP. According to him, Bitcoin is the only other token that comes close to XRP in that regard. His statement echoes the sentiments of Ripple’s CEO Brad Garlinhouse, who recently stated the importance of real-world utility in driving a crypto’s growth. Meanwhile, Rector alluded to XRP’s recent pump as a sign of the great things to come for the crypto token. On March 11, XRP climbed to as high as $0.74 before seeing a sharp correction. However, the community will hope Rector’s conviction is correct, considering that XRP didn’t make any significant statement in the 2021 bull run. As Rector noted, community members’ faith in the token is fast waning, and there is a belief that a repeat of the altcoin’s sluggish 2021 run will ultimately erode this faith. XRP getting close to or surpassing its all-time high (ATH) of $3 will be a great place to start if it is to make a run in this bull run. Time For Price Predictions To Come True Crypto analysts like Crypto Rover and Egrag Crypto had before now made bullish price predictions for XRP, which are meant to be actualized sometime around this period. On his part, Crypto Rover predicted that the altcoin would see a “massive breakout” this March. Meanwhile, Egrag predicted that XRP will rise to $5 between now and April. Related Reading: Samson Mow Gives Reasons Why Bitcoin Price Could Reach $1 Million This Year Other analysts like Dark Defender have also fuelled expectations for XRP this period. Dark Defender, in particular, recently stated that the next target for toke is the $1.33 price mark and that the $1.88 and $5.85 Fibonacci targets could be attained in the upcoming weeks. At the time of writing, XRP is trading at around $0.686, down over 1% in the last 24 hours, according to data from CoinMarketCap. Token price at $0.68 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com