XRP is showing signs of a big price jump, according to some analysts. They believe a final correction is coming before a massive rally.
A $4 XRP Price? Here’s Why Some Analysts Think So
Prophecy Trading, a crypto analyst, sees a pattern in the XRP price chart that suggests a significant price increase. They’ve compared the current XRP price action to the run-up in late 2017, suggesting a similar “wave 5” rally is on the horizon. This could potentially push XRP to a new all-time high of around $4.50 in April. The analyst points to XRP’s resilience during this correction phase, noting that it’s consolidating rather than crashing. This, combined with similarities to the 2017 bull market and current stock market trends, strengthens their prediction. They even suggest a broad market rally could follow.
Bullish Signals and Key Price Levels
Another analyst, CasiTrades, adds to the bullish sentiment. They’ve identified a bullish divergence in the RSI (Relative Strength Index) for XRP. This means that momentum is shifting towards buyers, even though the price hasn’t yet reacted significantly. CasiTrades believes sellers are running out of steam, and buyers are poised to step in.
The analyst highlights key price levels to watch:
- $2.36: Current support level, potentially the bottom of wave 4.
- $2.70: Local resistance; breaking above this could signal a significant move upwards.
- $3.05 and $3.40: Macro continuation targets.
- $3.80: The all-time high.
CasiTrades maintains that the overall bullish trend for XRP remains intact and a breakout is imminent.
Current XRP Price and Conclusion
At the time of writing, XRP is trading around $2.45, showing a slight increase. While these predictions are exciting, it’s important to remember that crypto markets are notoriously volatile, and these are just analysts’ opinions. Always do your own research before investing.
