XRP has seen a significant surge in value over the past few days, leading some analysts and market commentators to suggest that it may never dip below $1 again. At the time of press, the asset is trading at $1.44, reflecting a 1.11% decline in the last 24 hours. At its peak earlier, the asset reached a high of $1.62.
This recent rally marks a sharp turnaround for XRP, which was trading at $1.08 just three days ago. Over this short period, the cryptocurrency has gained an impressive 35.85%. With XRP approaching the $2 range, analysts are confident it has established a strong support level at $1, making a dip below this threshold increasingly unlikely.
Veteran Trader Predicts New Normal
One of the most prominent voices supporting this is a popular market commentator known as The Bearable Bull. He stated on X, “We will never see XRP go below $1 again.”
This sentiment has been repeated by other commentators who believe the token has secured its position in this price range. Despite the optimism, some analysts urge caution. Hank, a Doge enthusiast, noted that while the current momentum is strong, bear markets come inevitably.
The asset broke into the $1 price range on November 16, 2024, for the first time in three years, reaching a high of $1.267 that same day. However, the rally was briefly interrupted by a pullback that brought the asset dangerously close to falling below $1, with a low of $1.0055 on November 17. Since then, it has rebounded, gaining significant upward momentum that many believe will continue in the weeks to come.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Broader Market Predictions
John Deaton, a well-known attorney and advocate for XRP, recently called $100 billion market capitalization. According to Deaton, the token’s recent performance reflects a new era of growth, signaling the end of its previous underwhelming price movement.
Similarly, the analyst CrediBULL has expressed confidence in the asset’s future, forecasting it will surpass its previous all-time high sooner than expected. He even suggested that the token could outperform major cryptocurrencies like Bitcoin and Ethereum during the current bull market.
Over the past 90 days, the digital asset’s growth rate of 127% has outpaced Bitcoin’s 53% and Ethereum’s 22%. Although XRP is still 60% below its all-time high, these figures indicate a notable recovery. In contrast, Bitcoin trades at record levels, while Ethereum remains 30% below its peak.
The asset’s recent surge and its ability to maintain a position above $1 have inspired confidence among investors and analysts. While some remain cautious about the potential for a market correction, many believe the token is entering a new phase of stability and growth. If the current trends continue, the asset could establish itself as a dominant force in the cryptocurrency market once again.
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.
Follow us on Twitter, Facebook, Telegram, and Google News
The post Veteran Trader: We Will Never See XRP Go Below $1 Again appeared first on Times Tabloid.
