Ripple’s XRP is currently trading at just $0.53, leaving many traders wondering: could it skyrocket by 2x to 5x after the launch of its RLUSD stablecoin? This speculation comes as XRP has struggled to move beyond the $0.50 mark, causing frustration among holders. They are eagerly hoping the altcoin can break this standstill and rise back to prices above $1.
XRP Needs to Break $0.55 for 5x Surge
Prominent crypto trader “The GOAT TRADER,” recently shared his thoughts on when XRP might see a big price jump. He pointed out that Bitcoin’s dominance in the market is getting close to its peak. The trader believes that when Bitcoin’s dominance starts to decline, altcoins like XRP could experience price increases between 2x and 5x.
He encourages investors to buy XRP now because the coming year could be very positive for the entire cryptocurrency market. Bitcoin’s dominance has been rising for the past few months, but analysts expect it to drop soon. This could lead to an altcoin season, giving coins like XRP a chance to thrive.
The trader also mentioned an important detail, that XRP needs to close its weekly candle above $0.55. If it drops below this level, it may test support at around $0.40.
Bitcoin’s Key Role in XRP’s Future
In a similar analysis, another technical analyst Charting Guy echoed these sentiments. He stated that XRP and other lagging altcoins will not see substantial price movements until Bitcoin enters a new phase of price discovery. He predicts XRP will fluctuate between $0.43 and $0.67 until Bitcoin breaks through its resistance.
Furthermore, Charting Guy highlights two critical price points for XRP. A monthly close above the upper Bollinger Band, currently sitting at $0.67, could signal a bullish breakout, suggesting that XRP could finally “moon” and experience a significant price increase. Conversely, if XRP closes below the lower band at $0.43, it could indicate a bearish trend, leading to further declines in price.
With Bitcoin dominance near its peak, there is speculation that once Bitcoin starts to drop, it may create room for altcoins, including XRP, to rally. However, for now, the market sentiment remains cautious.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed