A prominent market analyst has insisted that XRP looks primed for new price discovery as things continue to align for the prominent asset.
In an X commentary yesterday, Bobby A suggested that XRP has maintained bullish momentum despite the broader market downtrend. Citing several factors, the seasoned analyst predicted a dazzling price surge, stating that the current price trend around $2 will be a “dream entry” just like investors currently see $0.3.
XRP Still as Bull as Ever
Bobby A mentioned that XRP has consistently trended above its April 2021 bull cycle top for over 80 days. He stated that this has ensured the asset has gained acceptance around the price level.
Furthermore, the XRPL native token has held the Bull Market Support Band (BMSB) and golden pocket, trading above an area the analyst termed the “Base Camp 1” zone. This bullish price action and the rising monthly momentum oscillator confirm the asset’s impulse for an imminent surge past its all-time high to unprecedented prices.
Interestingly, Bobby A highlighted that these bullish metrics have endured despite the market’s recent fear, doubt, and uncertainty (FUD). XRP struggled alongside the broader crypto market, pumping to $3 on March 2 after Donald Trump announced its inclusion in the proposed US crypto reserve, before relinquishing most gains the next day.
XRP Set to Explode After Multi-Year Pattern Breakout
The analyst stated that it is all aligning for XRP at the moment amid technical and macroeconomic boosts. Technically, Bobby A shows that the token has broken out of a multi-year descending triangle on the monthly timeframe and looks set for a price explosion.
XRP Breakout/Bobby A
Furthermore, Trump’s recent ploy to add XRP to the proposed national crypto reserve is a potential bullish catalyst. This is in addition to the growing optimism that the years-long regulatory litigation is nearing its end. Bobby A’s commentary highlighted the convergence of technicals, news, narrative, and cyclical price actions to favor the XRPL native token.
As a result, he predicted a meteoric surge to new heights spurred by these bullish factors. He asserted that as market participants rued missing out on buying XRP during the previous cycle’s lows of around $0.3, those who would not buy now would face a similar plight.
While the commentary did not include a price target for the impending bullish outburst, earlier analytical insights have predicted ambitious targets for XRP. For instance, analyst “Random Crypto Guy” insisted that the asset would surge to $385 as nothing hinders the price attainment.
In the meantime, XRP trades at $2.5002, continuing its fine price rebound yesterday. The high-caliber asset is up 5% in the past 24 hours and is still 20% profitable to those who bought at the start of the year.
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