'Dead' XRP Price Pumps 40%: Historic Breakout Not Seen in 7 Years Could Spike Major Ripple Rally
- WBOYOriginal
- 2024-07-18 11:38:49335browse
The price of XRP has been considered dead by many in the crypto community. We have seen many people dump their holdings for other coins they consider
The price of XRP has been showing signs of recovery lately. According to crypto analyst Moon Lambo, the price has increased by around 40% in the last 7 days.
This is a significant turnaround for XRP, which has been lagging compared to other altcoins. As a result of this price increase, XRP is now back to $0.60.
Moon Lambo highlighted this development, pointing out that the once ‘dead’ cryptocurrency is now back to $0.60, highlighting its resilience.
This price increase coincides with a surge in small-cap stocks, a correlation that has been noted by the crypto analyst. Moon Lambo suggests that this correlation points to the possibility of further growth in XRP's value.
The crypto analyst also emphasizes the potential for XRP to reach an all-time high and enter price discovery territory if the current trend continues. Moon Lambo adds that previous market fluctuations may become irrelevant in the face of a major rally.
Technical Analysis Points to Historic Rally: XRP Price Prediction
Technical analysis supports the optimistic outlook for XRP. Crypto Michael, a respected analyst in the space, shared an observation about XRP’s chart pattern.
He pointed to the formation of a 7-year-long bull pennant, which he said he had never seen before in his years of crypto trading. This chart pattern has led Crypto Michael to suggest that we might be about to see one of the most significant breakouts in crypto history.
Captain Faibik highlighted the XRP bulls' efforts to breach a critical trendline resistance on the weekly timeframe chart. According to his analysis, a breakout from this trendline resistance could lead to an epic pump.
Captain Faibik's chart analysis indicates that a successful break above the trendline resistance could propel XRP's price to around $2.5, a 300% increase from current levels.
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