The recent market recovery has resulted in a change in the price of XRP will be looking for a re-break of the $2.50 level, which could result in a continuation of the uptrend. While all eyes are now on the $3 level to recover, there are plenty of bullish expectations for the altcoin. The price of XRP, despite recent crashes, is expected to reach recent all-time highsbeating a high of $3.80 that has stood for more than seven years years now.
What will happen if the XRP price regains momentum
Pseudonymous cryptocurrency analyst “Guy on the Earth”. common XRP price analysis, which shows the opportunities that lie ahead for the cryptocurrency. So far, the altcoin has continued to consolidate following its rally in 2024. After almost a year of being stuck in a consolidation trend and market recovery, it is possible that the XRP price is finally ready to break out.
What stands out is the fact that The price of XRP continues to trade at higher lows through the consolidation trend. This suggests that while the direction may have been down, the overall sentiment still pointed towards possible recovery and growth.
Considering this, the breakout from the consolidation phase is expected to be huge. This may be reminiscent of November 2024, when the price of XRP surged over 600% before reaching its peak.
The analyst expects XRP to enter what will essentially be a “euphoria phase,” with the price expected to reach $6. This would translate into a price boost of over 100% and set recent all-time highs for the first time since 2018.
Bears are still lurking
While most indicators still point to gains, there is still room to regain control. The main problem would arise if the price of XRP fell below $2, setting the tone for another wave of declines.
A cryptocurrency analyst emphasizes that a drop below $2 would mean the end of the bull market and a bear market is emerging. In the worst-case scenario, the XRP price will enter a longer consolidation trend, pushing it to the $1 level.
Currently, it is crucial for the XRP price to clear $3 with momentum, putting the bulls in front. Moreover, if the price of Bitcoin continues to rise, it could lead the entire market to another bull market.
Featured image from Dall.E, chart from TradingView.com
