Ripple (XRP) on the Verge of Hitting $1 After Soaring 15% Daily: Analysts
TL;DR
XRP’s price surged over 15% in hours, briefly exceeding $0.70, with optimistic predictions for further growth.
Increased trading volume and positive transaction trends indicate a potential ongoing rally for the asset.
Ripple’s XRP finally experienced a significant resurgence after lagging behind the positive market trends for weeks. Its price jumped by over 15% on a daily scale, briefly surpassing the $0.70 mark for the first time since November 2023.
In the following hours, it slightly retraced to its current level of approximately $0.69 (per CoinGecko’s data), but analysts remain optimistic that the bull run has already begun.
The X user Dark Defender claimed that XRP has successfully overcome previously depicted resistance zones, predicting that the next stop would be $1. The milestone is expected to be reached by the beginning of April.
EGRAG CRYPTO also noted the token’s revival, suggesting that the crypto community can witness “galactic candles” from now on.
One person who seems to have forecasted the most recent surge is JackTheRippler. The crypto enthusiast with thousands of followers observed an XRP price chart yesterday (March 11) to conclude that the asset “is preparing for a major breakout.” The valuation at the time of the prediction was hovering at $0.62.
The ascent coincides with the overall revival of numerous XRP-related metrics. Trading volume for the past 24 hours has increased to almost $7 billion, thus exceeding the figures recorded by Solana (SOL), Binance Coin (BNB), and many other leading cryptocurrencies.
According to xrpscan, newly executed transactions and the number of new accounts activated have also headed north.
There are several important signs hinting that XRP’s rally might be just starting. Those willing to explore them in detail, feel free to watch our dedicated video below:
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Filed under: Bitcoin - @ March 12, 2024 6:17 am