XRP Smashes Through Resistance, Could Soar 15%, Analyst Says
22 Agosto 2024 - 8:30AM
NEWSBTC
Ripple’s XRP is on a rampage, breaking through a key resistance
level of late. The move has analysts eyeing the crypto asset for a
potentially big gain, with many, like Bret Hill, suggesting as
such. Related Reading: Tron Rises 24% Amid New Developments – Will
The Uptrend Continue? Meanwhile, Pastor Brandon Biggs is doing
rounds on social media with his “prophetic” prediction of an
“overnight” surge in the price of XRP. Against this backdrop, XRP
is currently trading at the level of $0.603, which is a 4% in
profit over the past 24 hours. Over a seven-day period, the digital
asset managed to soar in price by almost 5%, but its monthly gain
was more modest at 1.29%. Several factors are driving this momentum
from technical analysis to more speculative influences. Let’s jump
into what’s going on with XRP and what could be next. Analyst’s
Bullish Comments One of the big voices right now in the XRP room is
crypto analyst Bret Hill. He just pointed out the importance of
this break above consolidation, as seen by XRP’s recent movements.
🚀 **XRP/USDT Daily Chart Update:** The XRP/USDT pair has just
**blasted through its consolidation phase** with a **bullish
breakout** that’s got the charts screaming “LFG!” The price has
surged to **$0.6054**, and the momentum is clearly with the bulls.
**Next Big Target:**… pic.twitter.com/Qp6HLL6pEn — Brett
(@Brett_Crypto_X) August 20, 2024 This, according to Hill, paves
the way for further upside toward the next resistance level target
of $0.684—the very level that will not be a walk in the park for
the bulls. This level of interest isn’t a usual random one, but
rather, a critical point that, once breached, shall signal larger
upside waves. Traders should now eye the $0.684 level. If the
altcoin can finally break over this critical level, it may be the
spark for greater gains. The excitement is tangible in the market,
and this excitement could prove to be the fuel propelling XRP to
higher prices. Prophetic Predictions Rouse Interest While technical
analyses present one view, there is another controversial
perspective covered. One of the most famous Christian prophets,
Pastor Brandon Biggs, hit the headlines lately on his latest
prediction related to XRP. Particularly, Biggs claims that XRP
could experience an overnight surge that will see the
cryptocurrency regain its past glory. His prophecy, although
speculative, caught eyes in the crypto community. He described a
vision of a financial shift tied to the crypto, with a “rapid
acceleration” in the token’s value. He believes it could be so fast
that it catches investors by surprise. By no means are these based
on traditional market analysis, yet his predictions do add an
intriguing layer to the ongoing conversation about XRP. And, for
those few that believe Biggs truly does see the bigger picture,
then XRP may mean something other than a financial asset—that XRP
may be part of an even bigger, spiritually significant event.
Related Reading: Celestia: Market Dip Leaves TIA Investors 16% In
The Red Market Sentiment And Investor Behavior In this respect, the
technicals on XRP suggest that the cryptocurrency could be poised
for higher prices. On the other hand, we see speculative and
“spiritual” predictions by Biggs, which make the situation even
more intriguing. XRP Price Forecast XRP looks to subject itself to
a trending move in the coming seven days, as the market points to
the possibility of a bullish performance, data from crypto price
prediction platform CoinCheckup shows. Currently, the value is
transacting 20% down from its forecast for the coming month, which
means that there can be a possible temporary dip before a climactic
shift upwards. Traders will most likely benefit from the projected
gains derivable during what looks like a short-lived correction.
Technical indicators are pointing towards XRP gaining momentum,
which could buoy the price higher as market sentiment improves.
Looking at a three-month timescale ahead, it appears that XRP will
witness an upsurge of 25%, while the view is steadily bullish over
the next six months, showing approximately 170% growth. Featured
image from PremiumBeat, chart from TradingView
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