An XRP trader recently projected a power-packed surge in XRP’s price to $1.13, aiming to capitalize on this anticipated rally by potentially making a whopping target of $105,000. Despite XRP’s recent rebound, reaching a 10-day high above $0.57 on April 22, the cryptocurrency faced resistance at the 50-day exponential moving average (EMA) at $0.5715, leading to a pullback. So is this the moment for XRP?
XRP Price To Give Double Profit, If?
However, a trader known as “X” sees an opportunity in the downtrend, suggesting that XRP has been trading above an upward trendline since at least June 2023. Interestingly, despite breaking below this trendline during the April 11-13 price crash, XRP initiated a recovery attempt starting April 20, coinciding with Bitcoin’s halving. This trader anticipates a 106% surge from the current position to reach the $1.13 price level, last seen during the previous cycle’s bull run in November 2021.
Trader aims to invest $4,000 to potentially transform it into $105,000 during XRP’s expected rise and share screenshots. However, attaining such high profits may require leveraging their initial investment 13x. A high-risk approach, leveraged trading can magnify gains and losses.
XRP on a Buying Spree!
Knowing the risk factors in such speculative investments and trading with leverage is crucial. While some traders are highly optimistic about XRP’s prospects, there’s no assurance of achieving the desired results. Other analysts like Block Bull have also expressed bullish views on XRP, anticipating a move towards $1.06 before a possible pullback to the $0.66 – $0.74 range.
Despite recent price fluctuations due to ongoing lawsuits, XRP has continued to attract interest from large investors, as indicated by increased whale activity and the accumulation of XRP tokens. XRP continues, with a significant whale transfer of 70 million XRP. Some whales buy more, while others sell, adding uncertainty. However, some experts maintain optimism amidst this, predicting XRP to reach $1.
Notably, XRP has recently dropped below $0.53, challenging bullish sentiment. As XRP took a dip, the whales—those hefty holders with between 10 and 100 million XRP—saw an opportunity. Analyst Ali Martinez revealed that these crypto titans gobbled up over 31 million XRP in just one week, totaling $16 million.
However, EGRAG Crypto suggests maintaining the $0.53 level is crucial for sustaining bullish momentum. However, breaching $0.55 could signal a potential rally toward $0.80 and even $1, amid speculation of a market recovery.
Is this the moment of breakout for XRP, a recent buying spree shows positive sentiments for XRP.
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