After experiencing a significant drop to $3.7, XRP bulls are staging a strong comeback, aiming to surpass resistance levels and set a new price target. A crypto analyst predicts that if the asset breaks this resistance, it could soar to $3.85 and potentially reach $6.5.
XRP Bulls Strive for $3.85 ATH Price
During the 2018 bull run, XRP reached its current All-Time High (ATH) of $3.84. Now, a TradingView analyst named ‘Mindbloome-Trading’ forecasts that XRP could exceed its ATH and hit $3.85 by 2025.
The analyst’s optimistic XRP price prediction is based on crucial resistance and support levels, with the belief that the cryptocurrency can surpass these barriers. He provides a detailed video chart analysis covering XRP’s price action on different timeframes.
The analyst states that XRP is currently in a bullish phase, showing strong upward momentum. The cryptocurrency has broken the $2.6 level, turning it into a key support area driving market momentum. Establishing a new resistance at $2.7, the expert suggests that surpassing this mark could lead XRP to $3.15 and beyond.
While confident in hitting the projected price target, the analyst also sees the potential for XRP to surge further, eyeing the $6.55 level. He emphasizes the importance of bullish catalysts and market capitalization growth to support XRP’s rally towards the forecasted $3.85 ATH.
Possible Downturn in the Market
As XRP bulls aim for a rally towards $3.85, there is a possibility of a market downturn if key resistance levels are not breached. The TradingView analyst outlines a bearish scenario where failure to overcome resistance at $3.13 and $3.15 could lead to a sharp correction, potentially dipping to $3.00 or lower.
Currently trading at $3.1, XRP has seen an 11.22% increase in the past 24 hours. The cryptocurrency faces strong resistance levels that may impact its upward trajectory.
