XRP has remained one of the most trending cryptocurrencies for the last month. The Ripple-backed token experienced staggering growth within this time, pushing it to heights not reached in seven years.
XRP jumped from a low of $0.5 to a yearly high of $2.9 in less than a month, indicating an over 400% increase. Consequently, XRP climbed above major coins like DOGE, Solana, BNB, and USDT, to position as the third-largest crypto, behind Bitcoin (BTC), and Ethereum (ETH).
Even though its price saw corrections that dropped it to a low of $2.2 last week, the market remains bullish and pundits continue to speculate a significant rally soon.
Analyst Predicts Another Rally Soon
XRP’s meteoric rise has led to a wave of optimism among traders. Several analysts have predicted an explosive rally toward new all-time highs. Their predictions are backed by notable favorable on-chain metrics over the last few days.
Precisely, “DonAlt,” a notable crypto trader on X, speculated another surge for the coin, saying “XRP looks like it wants to go for round two.”
He tagged the possibility of this as “absurd,” hinting at the fact that the coin only just recorded an exponential surge, and is already ripe for another one.
Regardless, his speculations indicate growing confidence in XRP’s trajectory, aligning with the broader XRP market sentiment.
According to a recent poll on CoinMarketCap, the XRP community shows strong bullish sentiment, as depicted in the 87% to 13% bullish-bearish votes.
Another prominent trader, Ali Martinez, agreed with DonAlt’s thoughts, with a simple affirmation, “that’s right.”
Ali has been a vocal supporter of XRP who constantly shares his opinion about the coin. In a separate post, Ali noted how whales have accumulated XRP within this period of correction.
According to him, large investors have bought over 120 million XRP, worth approximately $288 million, signaling heightened buying pressure on the coin that could make it break to new highs soon.
Major XRP Critic Recognizes XRP’s Momentum
Meanwhile, a known XRP critic, Peter Brandt, in a recent post on X, highlighted XRP’s visible momentum, noting that the coin might record another surge soon.
Brandt shared XRP’s weekly chart, showing its growing market cap. XRP’s valuation rested at around $30 billion before the rally that sent it to over $140 billion. As a result, Brandt called XRP’s chart the “most powerful” in all of the crypto world.
If these predictions are anything to go by, XRP could target its all-time high of $3.4 soon with a long-term possibility of breaking $5. Meanwhile, XRP traded at $2.37 at press time, representing a 6.7% decrease in the last 24 hours.
Source: CoinMarketCap
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