XRP would need to rally approximately 70% this month from its current price of $0.59 to regain the $1 value lost since the last bull market.
This week, the Bitcoin-led bearish market has dragged XRP below the crucial $0.6 threshold. Accordingly, the token continues to stir discontent among holders as it trades farther away from the much-awaited $1 price point.
XRP bottomed at $0.5706 over the past day but has witnessed a fairly notable recovery, hovering around $0.59 at press time.
In the crypto community, optimistic commentators have voiced ambitious forecasts for XRP in the past month. Among these projections, targets of $5 and $10 have gained popularity.
While some view $10 as the pinnacle of this bullish season for XRP, others are confident that such a price level could be achieved in the short term.
Meanwhile, XRP has continued to hurt its hopefuls as it fluctuates between $0.5 and $0.7 over the past nine months, with very few attempts to breach the $1 mark.
Last month, there was a momentary glimmer of hope on its journey to $1 when it surged dramatically to $0.74. However, this optimism was short-lived as XRP swiftly retreated back to the $0.6 range within hours.
Some enthusiasts have attributed XRP’s underperformance to the SEC vs Ripple lawsuit. Yet, even after XRP emerged victorious in the lawsuit, its price, though doubling within 24 hours, still fell short of reaching $1.
The closest XRP came was $0.93. Moreover, following this event, the asset resumed its downtrend, establishing lower lows as it continued to consolidate.
Will XRP Finally Reclaim $1 Mark this Month?
Remarkably, XRP was last seen at $1 during the peak of the last bull market. While this cycle’s bullish phase is about six months old, XRP remains at $0.5915.
Effectively, the asset must soar by 69% from its current price to reclaim $1 and potentially continue toward higher bullish targets. But XRP’s ability to engineer a 69% surge remains contestable.
Just last week, analyst Tylie Eric boldly predicted that XRP would experience a 60% surge in nine days, reaching $1.
Tylie Eric made this prediction on March 29. With this bold statement, Eric suggests that the the XRP market could witness a miraculous rally within the next three days to reach $1 by the weekend.
Additionally, other analysts in the community, like EGRAG, have posited that XRP is currently mirroring the pre-bull phase of late 2017, suggesting an aggressive breakout for XRP could occur anytime.
Meanwhile, researchers at crypto trading platform Changelly do not believe XRP will enter $1 this month. Their highest target for XRP in April is $0.75.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
