The crypto market is showing resilience after a recent correction, with many prices recovering impressively. XRP in particular stands out with a remarkably strong recovery, not only surpassing previous values, but also showing a huge increase compared to Bitcoin (BTC). Analysts are pointing to a historic breakthrough that could enable XRP to soar to new heights.
Historic breakthrough for XRP
According to Khanzadaev, the recent price rise has helped XRP break through a crucial resistance level. This opens the door for a possible further rise towards $4 in the short term and even $8 in the long term. The altcoin has experienced a remarkable growth of 271% in the past two months, rising from 0.00000733 BTC to 0.00002678 BTC per XRP.
This level previously formed a strong barrier, with attempts to break through in the summer of 2023 and the fall of 2022. Now that XRP is finally above this, there appears to be room for further price developments.
New all-time high on the way?
If XRP manages to hold above the current resistance level of 0.00002678 BTC, Khanzadaev predicts another challenge around 0.00004239 BTC. This area has been reached only rarely in the past six years. Should XRP break this barrier, a new all-time high (ATH) above $3.40 is within reach.
Egrag Crypto: Positive outlook, but with risk
Analyst Egrag Crypto also sees a lot of potential for XRP, but warns of possible risks. His technical analysis points to a price target of $3.77, in line with Khanzadaev’s predictions. Still, he emphasizes that if the price falls below the $2.07 support level, there is a chance of a freefall to $1.63.
Conclusion
With the recent breakthrough and growing interest from analysts, XRP seems ready for an exciting price movement. Whether it will actually reach the predicted levels of $4 or even $8 depends on the coming weeks and the stability of the support levels. In any case, XRP remains an interesting project to keep an eye on for investors.
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Source: https://newsbit.nl/xrp-breekt-door-cruciale-weerstand-koers-kan-stijgen-naar-4-tot-8-dollar/
