XRP has been performing amazingly in the last 30 days thanks to its most recent bull run, with record returns clocking at 135%. Despite reporting losses in the last 24 hours, the cryptocurrency XRP is still trading at $0.58 at the time of release. This is a great sign for XRP as it has been able to maintain a desirable and important support level despite the most recent drop.
According to technical analysts, XRP is currently running for the $1.15 price range. This analyst has been putting high hopes in this cryptocurrency over the last few weeks, even claiming that the XRP’s value can easily reach $25 to $30 once the different digital assets start their bull run anew.
However, as most recently stated by the analyst, Credible Crypto believes that a break from the current level of XRP is directly tied to how Bitcoin’s price will perform in the coming days. The analyst said that he thinks that the previous run is over and Bitcoin will stay at its current level, and so will XRP. This correction is over, the analyst further added.
Regardless, he believes that the XRP is ready for another bull run. “Fasten your seatbelts,” he said, then quickly showing a chart of the projected gains that XRP will experience in its next rally.
Credible Crypto also believes that Ripple’s cryptocurrency will experience another setback before climbing again and reach new heights for the year. A trader, Mr. Parabolic, also agreed with the analyst’s assessment of the crypto token. He said the major players in the industry and Bitcoin are dumping as a major retest of their weekly support and resistance flip.
Another trader who is optimistic about XRP is Michaël Van de Poppe. In recent analyses, this trader compared and correlated the price of XRP and Bitcoin. And, they indicate that the next airdrop of Spark tokens by the Flare Network will have a positive impact on the value of XRP.
He also predicted that there would be a drop like what just happened, and this will happen just before investors start gunning for the $1.00 mark. However, his analysis placed this drop to happen at the $0.45 mark, and it will act as the support level, but he thinks that this can go even lower.