Since April 2017, XRP has been on an upward trend, according to a popular analyst. Despite lagging behind other major cryptocurrencies in gains, Ripple's XRP is still sitting pretty in the green on a weekly scale, trading around $0.59.
Analysts are buzzing with predictions that the token's price is set to climb even higher. One analyst, known as EGRAG CRYPTO, pointed out that XRP has been above a major resistance level, dubbed the “Bifrost Bridge,” for a whopping 2,650 days.
“XRP hasn't closed even half of a candle body inside the Bifrost Bridge for almost 2,650 days. What does this mean? It means XRP is in a solid uptrend with strong foundations, not breaking any structure on the higher time frames. Since the April 2017 breakout till today, XRP has been trending UP,” he explained.
EGRAG CRYPTO believes that as long as XRP stays above the $0.28 mark, a bull run is on the horizon. “Everything else is just noise—more time to accumulate or trade other coins for XRP, just like I’m doing when hitting certain percentage gains,” he added.
Meanwhile, Ash Crypto, another well-known analyst with over a million followers, has a bold prediction. He sees Ripple’s native token soaring to the $3-$5 range within the next six to ten months. He also envisions Bitcoin (BTC) skyrocketing to as high as $250,000 in the same period.
XRP's recent price uptick coincides with a surge in activity from big-time investors. Analyst Ali Martinez revealed that these “whales” have scooped up more than 380 million tokens in the past ten days, a stash worth around $224 million at current rates.
This could have a positive impact on XRP’s price for a couple of reasons. First, it leaves fewer tokens available on the market, which, combined with steady demand, might trigger a rally. Second, the whales' activity could signal confidence, attract more investors, and increase buying pressure.
So, keep an eye on XRP—it just might be gearing up for an exciting ride!
