XRP remains an outstanding contender in the ongoing market cycle, with the potential of reaching a new all-time high at the end of the bull run. Looking at current price performances, the altcoin has displayed resilience in light of bearish market conditions, sparking speculation about an impending upswing.
A Major Surge To New Peak For XRP On The Horizon
Following a recent breakout, XRP seems to be gearing up for a historic bull run, as forecasted by Javon Marks, a market expert and trader. His analysis highlights the altcoin’s ability to breach key resistance levels, setting the stage for a possible surge to a new all-time high.
This breakout coincides with general market optimism, which is generating conjecture on the token’s next significant move as it attempts to regain its historical highs. As trade volumes rise and investor confidence returns, the altcoin’s upward trajectory is garnering a lot of attention.
The expert stated that XRP is maintaining its breakout from a bullish pattern and is currently going through a retest phase. Following the retest of the upper line, Javon Marks expects a substantial run toward new all-time highs.
It is worth noting that the expert foresees XRP to rise as high as the $10 threshold, indicating its biggest bull run. Whether the asset will surge to the $10 mark or not, many enthusiasts believe it will surpass the current all-time high in the ongoing bull cycle, reflecting investors’ belief in its price prospects.
Crypto portfolio manager and enthusiast Natalie Dormer has predicted a resurgence toward the $2.80 level and beyond for XRP in the short term, citing bullish indicators. After examining the token’s recent price action, Natalie Dormer highlighted that a Bullish Classic Pennant formation is emerging in the 4-hour time frame, demonstrating robust upside momentum.
Over the past few days, XRP has made remarkable movements, finding support near the 50 Exponential Moving Average (EMA) and recovering from it. With upbeat strength emerging, the expert claims that this development put the asset on a path to a $2.60 target in the near term.
While the altcoin consolidates within the classic pennant pattern, Dormer anticipates a price upswing to $2.80 and higher once a breakout above the upper trendline occurs. According to the analyst, this bullish continuation pattern presents more upside potential for XRP in the coming days.
Price Performance Shifting Toward A Positive View
After dropping to $2.3 on Monday, XRP has rebounded to the $2.5 threshold with the possibility of recording additional gains. In the last 24 hours, the altcoin has increased by nearly 5%, demonstrating renewed upward momentum.
Growing investors’ confidence and activity are considered to have played a crucial role in the recent upsurge to key resistance levels. Data from CoinMarketCap shows a strong sentiment among investors as indicated by a more than 44% rise in trading volume in the past day.
Featured image from YouTube, chart from Tradingview.com
Source: https://bitcoinist.com/xrp-sets-for-a-historic-bull-run-to-a-new-peak/