Many XRP holders expect the altcoin to soon surpass $1. XRP has been trading around $0.50 for some time despite continued pressure in the cryptocurrency market. Some analysts have recently predicted that XRPâs long-awaited bull run will begin as Bitcoinâs dominance wanes.
XRP Price Forecast: Any Positive Signs Ahead?
The current price forecast for XRP from CoinCheckup shows a bullish trajectory. Analysts predict the altcoin will gain 14% over the next three months, despite the fact that it is currently trading 18.77% below its estimate for the next month.
This modest increase could be a precursor to a sustained bull run that will provide traders with steady gains. XRP is forecast to increase by 150% in the next half year and 125% by 2025. Therefore, the bullish forecasts for the coin suggest that this is the beginning of a period of strong price growth, driven by increased consumer confidence and wider adoption.
Key Resistance Levels to Watch
Even with these positive outlooks, XRP still has some significant resistance levels to overcome before a real rally can begin. Trader âGOATâ pointed out that for XRP to continue moving higher and reach $1, it needs to close above $0.55 on the weekly chart.
If it fails, the altcoin could drop as low as $0.40, testing key support levels before attempting another rally. Another technical analyst, âCharting Guy,â chimed in, suggesting that XRPâs price action will be heavily influenced by Bitcoinâs performance. According to him, XRP will trade between $0.43 and $0.67 until Bitcoin breaks above the $70,000 resistance level.
Bitcoin's Impact on XRP's Future
Bitcoin has been in a fairly tight trading range and has yet to break above $70,000. Although the leading coin peaked at $73,000 in March, it has struggled to maintain that level and has ultimately run into persistent obstacles that have prevented it from reaching a new phase of price discovery.
As long as Bitcoin remains below this key level, underperforming altcoins such as XRP could continue to trade sideways. According to Charting Guy, breaking the resistance level would be a key support level for XRPâs upward trajectory.
Bollinger Band Tightening: What It Means for Altcoins
Meanwhile, XRPâs Bollinger Bands have tightened on the monthly chart. This tightening typically indicates that a significant price move is approaching. Charting Guy speculates that if XRP closes above $0.67, it could spark a major rally. On the other hand, a monthly close below $0.43 could lead to a significant decline. Investors should keep a close eye on these key levels to see where XRP could go next.
