Analyst Predicts Potential Surge in Ripple’s XRP Value to Over $6 in 2021

  • Ripple’s XRP is maintaining its position at $0.50, despite a broader market upturn. Analysts predict a potential bull run, with resistance at $0.49 seen as crucial.
  • Future Projections: XRP’s price movement may depend on Bitcoin’s performance, with predictions suggesting it could rise significantly if market conditions are favorable.

Despite a broader market upturn, Ripple’s XRP maintains its position at $0.50. Analysts predict a potential bull run, with resistance at $0.49 seen as crucial. XRP’s price movement may depend on Bitcoin’s performance, with predictions suggesting it could rise significantly if market conditions are favorable.

XRP’s Next Possible Move

The cryptocurrency market experienced a resurgence today, with numerous digital assets entering green territory. For instance, Bitcoin (BTC) briefly exceeded the $63,000 level, whereas Ethereum (ETH) neared the $3K mark. Ripple’s XRP lagged behind the leaders, registering little-to-no volatility and maintaining its $0.50 level.

Analysts Predict a Bull Run

Several analysts believe the asset is yet to witness a rapid price revival. One such analyst is EGRAG CRYPTO, who praised XRP’s recent consolidation and suggested it will soon be replaced by a bull run. The analyst predicted that the token remains poised to skyrocket to $6.40 in the following months as long as it keeps trading above the $0.49 resistance level. CrediBULL Crypto also argued that XRP’s potential price ascent in the future partially depends on Bitcoin. In their view, a BTC spike towards $69-70K could be one factor fueling a rally for Ripple’s native token.

Some Previous Forecasts

Other analysts who envisioned an XRP rally in the near future are David Watt and Crypto Tony. The former assumed the asset’s price could climb to $0.56 in the next few days. Crypto Tony was even more bullish, predicting a bull run once XRP reclaims the major support zone of $0.67. The last time it reached that level was in mid-March. Many industry participants believe the ongoing lawsuit between Ripple and the US SEC is the main obstacle standing in the way of an XRP rally.

Conclusion

In conclusion, despite the broader market upturn, Ripple’s XRP maintains its position at $0.50. Analysts predict a potential bull run, with resistance at $0.49 seen as crucial. XRP’s price movement may depend on Bitcoin’s performance, with predictions suggesting it could rise significantly if market conditions are favorable. However, the ongoing lawsuit between Ripple and the US SEC is seen as the main obstacle standing in the way of an XRP rally.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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