- XRP bullish momentum signals the start of long-term growth, supported by technical indicators and market resilience.
- Institutional adoption, like WisdomTree’s XRP ETP launch, strengthens XRP’s position in the global crypto ecosystem.
XRP’s recent success has sparked substantial interest in the crypto market, owing to both strong market sentiment and important developments. Writing on TradingView, popular crypto analyst Alan Santana underlined the great expansion possibilities of XRP and examined its present path with an eye toward the monthly horizon.
Santana claims that the present positive momentum is only the start of a much more expansive trend, not a destination.
XRP: Record-Breaking Momentum and Market Resilience
Santana underlined that the continuous climb marks the largest monthly session for XRP since November 2020, a period also noted as a turning point for the coin. Making comparisons to that era, he said that although December 2020 saw a slight downturn, it finally cleared the path for a big bull run.
He did clarify, though, that in terms of retracing intensity, 2024 might not reflect 2020. He ascribed this to the growing maturity and durability of the market as well as the unflinching loyalty of XRP traders who stick to the long-term plan of the project.
Technical signals confirm the bullish sentiment even more. Santana pointed out that XRP’s strong position is shown by trading much above the EMA55.
Under the present circumstances, he rejected the notion of shorting XRP, saying that any retracements should be seen as chances to build rather than causes for worry. Reflecting his hope in XRP’s future course, his analysis established high pricing forecasts for it at $3.01, $5.15, and $6.41.
Meanwhile, XRP is trading at about $1.41 at the time of writing, a 34.52% gain over the last 7 days and a 167.57% rise over the last 30 days.
Beside that, WisdomTree’s release of a physical XRP ETP across main European exchanges marks one important turning point. According to CNF, this product comes with institutional-grade security through dual custody and cold storage protection together with a 0.50% administration charge.
Source: https://www.crypto-news-flash.com/xrp-bull-run-why-analysts-believe-its-just-beginning/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-bull-run-why-analysts-believe-its-just-beginning