XRP is currently trading at $2.14, reflecting a 34% decline from its recent seven-year high. Market participants who entered during the token’s recent rally are experiencing losses, though sentiment remains hopeful.
Some prominent crypto analysts suggest that XRP may soon break through this period of consolidation to reach new heights.
Conditions for XRP Rally to $4.50
Crypto influencer Ben Armstrong, known as “BitBoy,” has outlined the critical level XRP must surpass to initiate its next significant price rally.
In a recent tweet, Armstrong emphasized the importance of XRP closing daily and weekly candles above $2.75. If this condition is met, he believes the digital asset could achieve a rally to $4.50.
When $XRP is closing daily and weekly candles above $2.75 it’s time to rock and roll to $4.50
— The BitBoy (@BenArmstrongsX) December 17, 2024
XRP briefly reached $2.72 after Ripple announced the launch of its stablecoin, RLUSD. Many anticipated that this news would catalyze XRP’s price, but the token quickly retraced, largely impacted by Bitcoin’s market downturn.
Despite this, Armstrong maintains that reclaiming the $2.75 level remains the key trigger for XRP’s upward movement. He has also suggested that this price target could be reached by the end of the year.
XRP’s Path Toward Reclaiming Its All-Time High
Adding to the bullish outlook, another prominent crypto analyst named “360 Trader” has presented an even more optimistic perspective. The analyst predicts that XRP is on the verge of recovering its all-time high (ATH) of $3.84 and establishing a strong price base above it.
They argue this would provide the foundation for XRP’s “true” bull run, potentially leading to unprecedented price levels.
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Market Sentiment: Optimism vs. Skepticism
The broader crypto community continues to monitor XRP’s performance with mixed expectations. Optimists point to potential catalysts, including the anticipated resolution of Ripple’s ongoing legal battle and the possible approval of an XRP exchange-traded fund (ETF). Both developments are expected to boost market confidence significantly.
On the other hand, skeptics caution against overestimating XRP’s potential in the near term. Some predict a possible decline to $0.50, citing historical patterns and market volatility as key risks.
As the end of the year approaches, XRP’s price movement remains a focal point for analysts and investors alike. While the asset has been trading within a narrow range over the past two weeks, key developments and market trends could dictate its next major move.
Whether XRP can meet Armstrong’s $2.75 threshold and surge to $4.50, or face further pullbacks, remains to be seen. However, enthusiasts and critics agree that the coming months will be pivotal for the digital asset’s trajectory.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post BitBoy Says XRP Will See Rocket Rally to $4.5 Once This Happens appeared first on Times Tabloid.
