Prominent Singapore Exchange Bitrue has taken to X to gauge community opinion amid XRP’s recent shocking price performance.
In the last 24 hours, XRP engineered a bullish move that stunned the crypto community, especially considering the slightly bearish state of the altcoin market.
Specifically, XRP suddenly broke a seven-month high by rallying from $0.6215 to above $0.74 in under six hours. This price surge amounted to 19.38% within a few hours.
Notably, XRP was last seen at the $0.74 threshold in July 2023. Its prolonged bearish trajectory frustrated holders at a time when many tokens were witnessing double-to-triple-value gains.
Considering the significant turnaround, leading figures in the crypto sphere—including Singaporean crypto trading platform Bitrue—remarked on XRP’s incredible move.
In a recent tweet, Bitrue exclaimed, “XRP is UP 17% in the past 24 hours.” The exchange then polled community members about whether XRP’s bullish market has ultimately arrived: “Is it finally time for XRP to shine?”
#XRP is UP 17% in the past 24 hours.
Is it finally time for #XRP to shine? 🚀
— Bitrue (@BitrueOfficial) March 12, 2024
Community Reacts
While fewer commenters believe XRP’s time has come, some skeptic voices express indifference to its new move. “XRP will continue to be XRP—dump like usual,” remarked an X user to Bitrue’s inquiry.
The indifference is further strengthened by the fact that XRP’s recent uptick was short-lived. In particular, the asset has failed to defend the recently reclaimed $0.7 territory, already crashing to the $0.68 mark in under 24 hours.
“[XRP] can’t even stay above $0.7 for a day [It is] unbelievable,” another crypto enthusiast remarked.
While a growing population has lost faith in XRP’s ability to sustain a bullish trajectory, top crypto analysts believe XRP will have its fair share of the burgeoning crypto bull market.
Tony Edward, the host of the Thinking Crypto Podcast, exemplifies this sentiment. He recently shared his positive outlook after initiating a new trade for XRP at $0.55.
Edward is confident in XRP’s potential as he has set a short-term profit-taking target of $1.35, remarking: “XRP’s turn is coming; it is always a laggard.”
At press time, XRP trades at $0.6951, securing a trading volume exceeding $7.5 billion, reflecting a 255% increase from the previous day.