Market analysts, despite moving at a slower pace compared to other cryptocurrencies, believe that XRP will make a turnaround and rise in the near future. A well-known technical analyst, CrediBULL Crypto, believes that even though XRP has lagged behind other leading cryptocurrencies, its future is brighter.
XRP Could Outpace Other Cryptocurrencies
CrediBULL claimed in a message shared on Twitter that XRP is ready for an uptrend that could surpass other cryptocurrencies. He highlighted that bullish signals are evident in the three-day chart for both trading pairs, indicating a potential increase in XRP’s price.
“I am still taking buying positions in XRP and have raised my average price by purchasing for the third time. In both XRP/BTC and XRP/ETH pairs, I saw the confirmation of the bullish trend in the three-day chart. I believe the window for superior performance I mentioned in my last video could be right around the corner.”
The analyst’s optimism is based on a potential increase of approximately 250% for the XRP/BTC pair. According to the analyst, this target would put the pair at 0.0000356 BTC, equivalent to $2.55.
What Are the Chances of XRP Reaching a New ATH After Bitcoin Halving?
Analyst Dark Defender notes that XRP could break a significant resistance level this week, potentially leading to new ATHs above $1, further strengthening the bullish sentiment. The analyst says:
“XRP experienced a significant breakout yesterday as expected. The movement that started on the monthly timeframe is clearly visible. The major resistance level of $0.6649 has been surpassed on the daily timeframe. Confirmation of $0.6649 on weekly and monthly timeframes is anticipated. Targets are now set at the $1.33 mid-resistance level and approaching closer Fibonacci targets of $1.88 and $5.85 in the coming weeks.”
Dark Defender, possibly referencing Bitcoin‘s upcoming halving, mentioned that “April could be hot.” Interestingly, other technical analysts believe XRP could rise above $1 before or after the halving, a significant event for the crypto industry and Bitcoin community.
XRP’s Performance
XRP’s performance has lagged behind major altcoins. Notably, XRP’s price has been significantly affected by Ripple’s ongoing lawsuit with the SEC. Both parties will face off in a planned hearing on April 23.
Ripple may have gained the upper hand after winning three consecutive victories in court, but the XRP community and the wider crypto community are eagerly awaiting the outcome of this long case. The result could potentially reshape the industry with significant crypto regulations.
