XRP On Fire: Analyst Predicts $4 Milestone As Token Rallies 11%
09 Novembro 2024 - 3:30AM
NEWSBTC
XRP is gaining traction, with one well-known expert predicting an
all-time high in the $4 region. XRP has joined the crypto market
rally, recently reaching $0.5740, up 11% from yesterday’s price of
$0.514. Bitcoin’s record-breaking surge has provided a broader
market boost, and XRP is capitalizing on this momentum to drive its
price higher. For many investors, this is an encouraging indicator
that the altcoin may ultimately recapture its upper price points.
Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot
In Crypto Ranks However, market momentum is not the only factor at
play here. Analyst CoinsKid, noted for his enormous following on
social media site X, recently posted an analysis indicating that
the XRP rise may have more potential to develop. Using a two-year
weekly chart, CoinsKid found significant resistance and support
levels, implying that it could break through to new highs. Is #xrp
on its ways to $4? a new all-time high for this #crypto! Hold the
green line and take out the orange line and a run to the upper red
line would not surprise me. Best of luck CKC 🙌
pic.twitter.com/NYBl2igF9g — CoinsKid (@Coins_Kid) November 6, 2024
Technical Points To Watch CoinsKid’s chart shows three big XRP
resistance points: $0.94, $1.50, and $2.50. These levels are
critical because they have historically served as ceilings for XRP.
For example, in July, the coin peaked at $0.94 before falling back,
just after a court ruling declared the asset not a security. This
was a major milestone, but the excitement faded when the price
failed to remain above this level. The analyst believes that XRP
will break through these resistance points without needing to
retest the lower support level of $0.3798. If the altcoin continues
on its current track, it might eventually reach a top of about $4,
according to CoinsKid. For investors, this may mean significant
profit, particularly if the market maintains its present bullish
tone. Regulatory Hope Boosts Optimism The legal environment in the
US is another thing that is making people feel good about XRP.
Recent reports have it that when President-elect Donald Trump takes
office in January 2025, he will replace Gary Gensler as Chairman of
the SEC. Many in the crypto space are keeping a close interest on
this theory, especially from XRP enthusiasts who feel that
Gensler’s exit will speak well for a more positive perspective
towards the altcoin and cryptos. The Trump campaign to reorganize
the SEC has added to this optimism. Many think that removal of
Gensler would give XRP ample freedom to operate without many legal
barriers. Such a shift in the regulatory landscape could well be
one big win for XRP, taking the price up. Related Reading: Binance
Coin Breaks $600! Is There More Upside Ahead For BNB? Future Price
Predictions Look Bright Looking forward, the price forecast for XRP
also seems very promising. The analysts predict a 14% increase in
the next three months, and its potential growth in six months is
much higher, at 160%. A one-year prognosis would mean that the
asset could get returns of over 100%. This makes the $4 goal not
out of reach, given that Bitcoin has broken new grounds and the
fundamentals of XRP are high. Finally, a combination of technical
resiliency, market momentum, and future regulatory reforms might
propel XRP to previously uncharted territory. For XRP holders, this
might be an exciting trip to what many believe would be a new
all-time high. Featured image from DALL-E, chart from TradingView
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