Famous crypto trader Goomba expresses confidence in the possibility of XRP surging above $1 within the next few months.
In a recent X post, Goomba asserted that it is not impossible to see XRP at $1. According to Goomba, XRP’s potential rally to the $1 territory could happen within the next few months. It bears mentioning that the last time XRP traded above the $1 price level was in December 2021.
The commentary suggested that while it is not certain that XRP might surpass the $1 target in the next few months, it is within the realm of possibility.
The accompanying chart shows that XRP was trading at $0.6065 when Goomba issued the prediction. Notably, XRP has plummeted below the $0.60 price mark ever since. At press time, XRP was priced at $0.57, reflecting a decline of 1.32% over the past 24 hours.
Consequently, this suggests that XRP must rally 75.43% from its current price to hit the $1 threshold.
Several experts recently projected that XRP was on track to hit the $1 psychological landmark.
Specifically, The Crypto Basic recently identified a golden cross in the XRP chart, suggesting that the token could surge above the $0.65 level to $1.
XRP Dips Below $0.60 Amid Israel-Hamas Conflict
Recall that XRP’s performance last month attracted the attention of the broader crypto market. The token, which started July 2024 at around $0.40 per token, witnessed a dramatic surge that pushed it above the $0.6 price territory.
This dramatic surge began on the first anniversary of Judge Analisa Torres’ summary judgment decision, which declared that XRP is not a security in itself.
Interestingly, rumors about a potential settlement in the SEC v. Ripple lawsuit also fueled XRP’s price to the $0.65 level. Like other major crypto assets, XRP has plummeted heavily in the past few days due to global conflict, especially the Israel-Hamas war.
Following Israel’s assassination of a Hamas military leader in the capital of Iran, there were speculations that Iran might launch a retaliatory attack against Israel. This speculation has led to increased volatility across various financial markets, including cryptos.
Additionally, the seventh-biggest cryptocurrency dipped below $0.55 earlier today after Ripple unlocked 500 million XRP from escrow. However, XRP witnessed a remarkable rebound that helped it recover to $0.57.
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.
