XRP's market performance has sparked a wave of optimism, with the token displaying strong bullish momentum for four consecutive days, suggesting a shift in momentum. Driven by steadfast support at $0.50 and Bitcoin's rise to $73,000, the altcoin's surge has led to bold predictions. One prediction suggests that the cryptocurrency could ambitiously target the $4 mark as its next potential goal.
Predictions suggest XRP price will reach $4
In the recent context of heightened optimism surrounding the XRP token, market experts are also optimistic, with many predicting that the price action of the altcoin will be interesting during the much-anticipated bull market. A well-known cryptocurrency analyst, TheWallstreet Bull, shared his forecast on X, suggesting that if favorable market conditions persist over the long term, the XRP cryptocurrency could soar between $4 and $6.
Such a leap could mean Bitcoin prices rise from the current level by 657% to 1,036%, an irresistible prospect for investors seeking massive returns. Other predictions echo this optimism, with some believing the token may be on the verge of its largest rebound to date. For example, analyst STEPH IS CRYPTO pointed out that during global liquidity surges, altcoin prices tend to skyrocket, as seen in the rebounds of 2017-2018 and 2020-2021.
Given the anticipated liquidity surge around 2024-2025, STEPH believes XRP may experience a similar rise. AIM Buster shared a technical analysis showing XRP consolidating within a large symmetrical triangle pattern as it approaches its peak, further enhancing bullish sentiment.
He emphasized that breaking through this long-term pattern could lead to 'significant' volatility, likely propelling the cryptocurrency to rise rapidly. If market forces align, this could catalyze the long-awaited breakout, making these ambitious $4-$6 targets attainable.
Short-term dynamics and market challenges
Despite the optimistic outlook, XRP's short-term performance shows a more moderate recovery, slightly lagging behind Bitcoin's momentum on the daily chart. Currently, the ADX reading is at 16.41, indicating that the token's trend strength remains relatively weak. To solidify its upward trajectory, the altcoin must first overcome key technical levels that may signal a stronger rebound.
The first step is to break through the $0.5629 level, which is consistent with the 38.2% Fibonacci retracement level. If the XRP token can surpass this threshold, it may pave the way for reversing recent losses and ignite further buying interest. Beyond this point, the cryptocurrency will face three strong resistance levels to reclaim $1.
The initial obstacle is at $0.6655, with the subsequent major resistance at $0.7484—XRP has struggled to break this area this year. Lastly, the final resistance before the psychological $1 threshold is at $0.8549, a level the token has remained below for nearly three years. Successfully breaking through $1 could trigger a new wave of bullish sentiment, laying the groundwork for further increases.
Meanwhile, the cryptocurrency has two key support areas backing its current price. The first support area is at $0.5075, which, if tested, may see buyer activity and help maintain stability. If the altcoin falls below this support level, it will encounter the final support level at $0.4887, where buyers may intervene to prevent further declines.
