Ripple's XRP is at a critical juncture, and its next move will play a decisive role in its future development roadmap.
Renowned trader Credible Crypto points out that XRP's next action is closely related to Bitcoin's performance, with both at very critical price levels. Moreover, some speculate that XRP may return to the 3.38 dollar high sooner than expected.
The potential path for XRP to rise to 2 dollars
Recently, XRP has performed remarkably well, skyrocketing 90% in just 90 days, exceeding Bitcoin's 51% and Ethereum's 20% during the same period. This strong upward trend indicates that market conditions are changing, and many expect its future performance to surpass that of Bitcoin and Ethereum.
According to Credible Crypto, if XRP can stabilize in the current range, it may break through 2 dollars. However, to continue rising and avoid significant corrections, Bitcoin needs to stay above 94,000 dollars.
If Bitcoin can maintain this price level, XRP is likely to stay above 1.10 dollars and is expected to reach new highs.
The impact of Bitcoin's decline
However, if Bitcoin drops and falls below 94,000 dollars, XRP is expected to drop as well, subsequently falling below the support level of 1.10 dollars. This drop signifies the end of XRP's first major wave 1, which previously propelled the token from 0.48 dollars to a recent high of 1.62 dollars.
Such a drop may trigger a significant correction, creating potential buying opportunities.
Will this be the last drop to 1 dollar?
If XRP drops below 1.10 dollars, Credible Crypto believes this could provide an excellent opportunity for investors to accumulate the token, especially in the range of 0.48 dollars to just below 1.10 dollars.
Meanwhile, if XRP can stabilize and achieve a fifth wave extension, traders expect it may not drop below 1 dollar again, marking the entry of bullish momentum into a new era.
Currently, XRP's price has surged to 1.45 dollars, with a 27% increase last week, bringing its market capitalization to 82.1 billion dollars.
