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HomeCrypto NewsMarketTop Economist Says XRP on Verge of Taking Off 'in a Big Way'

Top Economist Says XRP on Verge of Taking Off ‘in a Big Way’


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XRP has held above the $0.51 zone for the fourth consecutive day since reclaiming it on April 13.

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Henrik Zeberg, a legendary Copenhagen-based macroeconomist and trader, is the latest to forecast an impending rally for XRP, as he recently shared his outlook for the broader crypto market.

According to Zeberg, the crypto market is on the verge of taking off “in a very big way.” In a recent tweet, the chartist called attention to several assets he believes would champion this rally, including Bitcoin (BTC), Ethereum (ETH), and XRP. 

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At the time of the disclosure, XRP had broken below the local top at $0.5434, having faced a massive roadblock stationed by the bears on its journey to reclaim the $0.55 price territory. The asset dropped to $0.5268 before staging a modest comeback. Despite persistent fluctuations amid fierce bear resistance, XRP held above $0.51.

Zeberg’s latest disclosure is consistent with his sentiments regarding XRP in the past few months. In November 2022, when XRP was consolidating between $0.39 and $0.41, Zeberg noted that he believed XRP would rally.

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XRP Needs to Flip $0.58 into Support

XRP has increased by over 27% since Nov 2022. XRP latest price movements have been shaky since it staged its massive rally on March 21. XRP sought to conquer the price point at $0.58 on March 29 but was summarily dispersed by the bears. All attempts to tower above this position have proven futile.

In a recent analysis, prominent trader Egrag Crypto highlighted the reason behind this. According to him, there is a massive supply wall at the $0.58 zone causing a major resistance. Egrag noted that XRP would face a significant pump once it conquers the supply zone and converts it to support.


Egrag further disclosed that a drop to the territory between $0.4310 and $0.4803 is possible, but XRP must avoid plummeting to this zone. Notably, the zone currently serves as a strong support point for XRP. According to Egrag, his short-term price forecast for XRP is $1, with a possible surge to $27 in the next bull run.


XRP has also seen a resurgence of investors’ interest of late, which is expected, given that market watchers expect the summary judgment decision from the Ripple vs. SEC case to be made soon. Attorney John Deaton noted that a ruling could come by May 6.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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