Analysis: XRP is now preparing for the next leg up according to its current break of structure pattern on the weekly charts.
A break above $2.62 could trigger the cryptocurrency to exponentially surge to its next level.
While we still have to test XRP’s all-time high of $3.30, crypto strategist BitBoy just shared to his 135k subscribers on YouTube that $4.50 will be the next price target.
Following a massive 400%+ climb in the past month alone, XRP is currently experiencing a small pullback of 5% Tuesday, a perfect entry prior to the next break of structure, according to analysts.
Currently trading at $2.53 at the time of this writing, XRP is poised for another major run as investors continue to buy these price levels before hitting and retesting all-time highs.
XRP’s current bounce off of the $2.40 level is a perfect buy opportunity signal as the cryptocurrency looks to break structure towards the upside again.
What’s fueling XRP’s rally?
Wisdom Tree recently became the fourth company to file a spot XRP ETF, signaling heavy demand from big financial institutions.
Once approved, exposure to XRP by these institutions will draw massive liquidity to the crypto asset.
What we’re seeing now is retail investors buying XRP and positioning themselves as adoption spreads.
Ripple’s future has never looked more optimistic as a leader in the crypto and financial space.
We asked AI Poe about its thoughts on where XRP is headed in the short term and long term after reclaiming its spot amongst the top 3 cryptocurrencies in the world.
AI Poe details that in this current scenario, XRP could achieve short-term price levels between $5 and $10, driven by institutional adoption and favorable market conditions.
Over the long term, if XRP successfully positions itself as a primary solution for cross-border transactions, prices could potentially reach $20 and significantly higher, capturing a significant share of the remittance market.
Ultimately the future of XRP is in the hands of its supporters.
Read Daily Crypto News for more news and updates like this.
Follow us on CoinMarketCap
Also Read: 2.1 Million XRP Tokens Were Now Executed On Binance
About The Author
Leave your thoughts below.
Read Daily Market News – https://franknez.com/ for more news and updates like this.