• Sun. Apr 21st, 2024

In the Midst of the Rally in April, XRP Is Expected to Skyrocket to $1.33

Phillip Bryant

ByPhillip Bryant

Mar 15, 2024
In the Midst of the Rally in April, XRP Is Expected to Skyrocket to $1.33

XRP has shown impressive resilience in recent times, solidifying its position as one of the top-performing digital assets by market capitalization, following a surge to its highest point since November.

XRP Poised to Reap Benefits from April Surge

The recent increase in the price of XRP has excited the cryptocurrency community. Many analysts believe that this could be the beginning of the long-awaited rally. Having reached a high point of $0.75 for the week, XRP started off the week on a very positive note, having experienced a remarkable surge of fifty percent from its previous price of fifty cents on Monday, March 11.

Dark Defender, a cryptocurrency expert, and trader, recently shared his optimistic outlook for XRP with the community on X (which was formerly known as Twitter). Dark Defender observed that the cryptocurrency asset was able to successfully overcome a significant resistance level on Tuesday, which was precisely what he had predicted would happen.

Last but not least, XRP has recently emerged victorious from a symmetrical triangle that had been in place for an impressive six years. Based on this pattern, there was a period of consolidation during which prices moved back and forth between the lower support line and the upper resistance line.

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According to the analyst, the move that everyone has been anticipating has long since begun, as can be seen from the monthly time frame. As an additional point of interest, the daily time frame reveals that the significant resistance level of $0.6649 has been successfully overcome.

In addition, he mentioned that there is a possibility of confirming $0.6649 for the weekly and monthly time frame. Dark Defender emphasized that his targets are now approaching the mid-resistance level near the $1.33 price mark. Meanwhile, he has set his Fibonacci price targets at $1.88 and $5.85 in the upcoming weeks.

The message stated:

XRP experienced a significant surge yesterday, just as we had anticipated. It is clear from the Monthly Time Frame that the movement has begun, and the considerable Resistance level of $0.6649 has been successfully breached in the Daily. The confirmation for the weekly and monthly frames will be at $0.6649. In the coming weeks, our targets are inching closer to the $1.33 mid-resistance, as well as the $1.88 and $5.85 Fibonacci targets.

As a consequence, the specialist has cautioned the community to be on the lookout for “substantial impacts” in the coming week. He also mentioned that “April is expected to experience high temperatures,” which indicates that there will be significant increases throughout the month.

This digital asset is currently trading at $0.6897, which represents a weekly increase of more than 12%. The value of the digital asset is steadily increasing at this time. Despite this, the market capitalization and trading volume have both decreased by 1.58% and 57%, respectively, over the last twenty-four hours.

That Asset Doesn’t Belong in Your Portfolio

A cryptocurrency expert named Jason Pizzino has cautioned against investing in the token XRP despite its recent surge in value. Jason Pizzino has brought to the community’s attention that they should not include XRP in their investment portfolio.

Despite the fact that it has been growing during this period, according to his statement, it still needs to increase by more than 2600% in order to reach the same level as Bitcoin’s peak in 2017. “It experienced a remarkable 500% growth in the previous cycle and is now just 30% away from surpassing the lowest point set by the SEC Lawsuit,” according to the analyst.

Pizzino asserts that one key benefit of influencers talking about XRP is the presence of a significant number of individuals who are eager to learn about the project and its promising price projections, which often fail to materialize.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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