$XRP
The article "Top Crypto Analyst: XRP Is the Last Buy Opportunity Before the Bullrun 2024–25" originally appeared on Coinpedia Fintech News.
The price of Bitcoin has surpassed $65,000, and the total value of the cryptocurrency market has reached $2.5 trillion. The price of Ripple's XRP token has also increased by a meager 4.9%. Meanwhile, reputable cryptocurrency analyst Captain Faibik has pointed out an opportunity to potentially purchase XRP. Faibik thinks that before XRP prepares for the anticipated bull run in 2024–2025, this might be your last chance to purchase!
Final Buying Opportunity For XRP
Captain Faibik recently tweeted that he believes XRP is offering a final chance to buy before what may turn out to be a bullish run in 2024–2025.
The Captain Faibik chart analysis indicates that XRP has been in a consolidation phase as it has been trading within a narrowing range. This market-wide period of consolidation frequently precedes notable price fluctuations.
The Final Chance to Invest in $XRP Before the Bull Run of 2024–2025!#XRP #XRPUSDT🚨 #Crypto
A green rectangle on the chart indicates a possible spike in the price of XRP, which is predicted to reach about $2.20, following a breakout from the consolidation pattern. Analysts predict that, with XRP trading at $0.54 right now, this is the last chance to purchase the cryptocurrency at this price before the expected bullish trend begins.
Technical Analysis of XRP
Even though XRP recovered slightly from the March 11 low to $0.7440, it has been unable to break above the $0.55 resistance level all week, which has led to a 20% decrease in the last seven days.
Some technical indicators point to a bullish outlook since these difficulties. For example, the Accumulation/distribution (A/D) line is trending higher, suggesting that there is still buying interest despite the current low XRP prices. This implies that traders might be inclined to "buy the dip," which might spur the price of XRP to rise.
XRP Will Run Into Opposition
In the meantime, the bearish narrative may be called into question if the price of XRP is able to close above the $0.57 mark. In such a case, the XRP might target the local high of $0.6431 on April 11. XRP must overcome resistance at $0.5910, the 50% Fibonacci retracement level of the decline from the April 11 peak to the April 13 low of $0.4188, before hitting that milestone.