XRP price has recorded a surge of over 4% today, indicating renewed market confidence towards the asset. However, the surge comes amid a broader market recovery, with the global crypto market cap soaring nearly 2% to $2.66 trillion. Amid this, top experts have highlighted key price levels for Ripple’s native asset, hinting at a recovery to above $3 in the near term.
XRP Price Soars: What Lies Ahead?
XRP price today was up over 4.5% and exchanged hands at $2.199, while its one-day trading volume fell 31% to $6.59 billion. Notably, the crypto has touched a 24-hour high and low of $2.24 and $2.06. Notably, the crypto’s RSI stood at 44, indicating a shifting momentum in the market. Simultaneously, the asset’s Futures Open Interest rose 2.5%, reflecting the renewed market interest, CoinGlass data showed.
Amid this, renowned analyst Patric Bet-David recently hinted towards a potential XRP rally to $1000, which has fueled market optimism. Besides, the renowned market experts also remained bullish on the future trajectory of the crypto, indicating a strong recovery ahead.
Expert Predicts Rally To $3.3
Renowned expert Rose Premium Signals has predicted a significant rally for XRP price, citing a descending channel pattern on the daily timeframe. According to the expert, this pattern suggests accumulation before the next leg up, indicating a potential surge in the asset’s value.
The expert predicts that a bounce from the current support level of $2.12 could drive the price towards key targets at $2.32, $2.61, $2.90, and ultimately $3.35. This would represent a significant increase from the current price level. Having said that, traders are keeping close track of Ripple’s native asset’s performance, as a breakout from the descending channel pattern could trigger a substantial rally.
Other Experts Weigh In Amid XRP Surge
As the XRP price recorded a surge, other experts also weighed in. Expert EGRAG CRYPTO has reiterated his stance on Ripple’s native asset, hinting towards a potential 700% XRP rally if it repeats its previous performance.
Simultaneously, CasiTrades noted that XRP has found its support at $1.9. As long as the crypto holds above the level, it could continue its run towards the north. Besides, the expert has highlighted the $2.25 and $2.7 as the next resistance levels, breaking which could push the price further high.
This optimism was further buoyed by the latest XRP ETF filing by Franklin Templeton with the US SEC. This has injected a fresh wave of optimism among traders, who are eying further rally for the asset. Highlighting the development, analyst Dark Defender noted “Double digits for XRP will be as easy as a pie.”
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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