XRP Tied to 100% Gains Post Halving: These Factors Will Decide

Analysts predict a massive surge for XRP against Bitcoin despite ongoing legal battles and a recent price correction.

Guy measuring XRP coin as its floating up in the network space.
Created by Kornelija Poderskytė from DailyCoin
  • Technical analysis has suggested a massive XRP surge against Bitcoin, with a possibility of exceeding 100% returns.
  • Analysts have forecasted an immediate price target of $1.33, with potential for reaching even higher targets.
  • Despite a recent price decline, XRP has maintained price stability around $0.60.

The cryptocurrency XRP has been under close scrutiny by analysts lately, with some predicting a significant upswing in its value against Bitcoin (BTC) in the near future. This bullish outlook comes amidst ongoing legal battles for XRP and a recent price correction.

Possible XRP Surge Looming?

CrediBULL Crypto’s bullish prediction hinges on a technical analysis of the XRP/BTC trading pair. He identifies an “accumulation phase” within a larger demand zone, suggesting a potential rise in price. This pattern aligns with past trends successfully identified by the analyst.

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Based on this analysis, CrediBULL Crypto forecasts a near-term rally of 15-20% for XRP against Bitcoin. If XRP surpasses the next major resistance level, estimated to be 35% higher, the analyst predicts a more dramatic surge exceeding 100% returns against BTC for investors.

This bullish outlook follows CrediBULL Crypto’s decision to increase his XRP/BTC position a week prior. The move was fueled by an “RSI divergence” spotted on the 3-day chart, a technical indicator often seen as a precursor to a market reversal.

XRP’s Foundation For Growth

Looking beyond technical analysis, other experts emphasize XRP’s strong fundamentals. Zach Rector, a prominent figure in the crypto community, acknowledges XRP’s potential due to the underlying technology of XRP and the XRPL. He believes this foundation positions XRP for a significant impact in the next crypto bull market.

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Analyst Dark Defender also expresses optimism for XRP, projecting an immediate price target of $1.33. He envisions XRP potentially reaching the Fibonacci targets of $1.88 and $5.85 in the coming weeks.

Despite a recent decline of 14% followed by a 1% drop in the last 24 hours, XRP’s price currently remains steady at around $0.60. This resilience, coupled with the positive outlook from analysts, paints a promising picture for XRP’s future.

On the Flipside

  • While CrediBULL Crypto’s analysis highlights a potential upswing, technical indicators can be misleading and shouldn’t be the sole factor in investment decisions.
  • The ongoing SEC lawsuit against Ripple Labs remains a major hurdle for XRP. A negative outcome could significantly impact XRP’s value.
  • CrediBULL admitted to increasing his personal holdings in XRP, which could be influencing their optimism.

Why This Matters

XRP’s potential surge, backed by technical analysis and strong fundamentals, would signal a broader shift in the cryptocurrency market, potentially leading to a resurgence of investor interest and renewed confidence in the asset’s long-term viability.

To learn more about the technical indicators and on-chain metrics that analysts are looking at to predict a bullish breakout for XRP, read here:

Why XRP’s Price Remains Motionless Despite Bullish Sentiment

Want to become a Ripple developer? Learn more about the XRP Ledger and how to get started here:

Ripple Developers: How to Become an XRP Dev

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.