Amid the recent crypto market rally, many influential figures are backing XRP to rally as high as $0.76 in the short term.
The price of XRP appears to have finally found a growth path after a period of underperformance. While the XRP jump may not be as notable as other top altcoins, the asset has turned the tide and looks poised to see further gains if the current market rally continues.
Accordingly, top market analysts are predicting an XRP price increase of up to $0.76. Marzell, the founder of the automated crypto trading tool Crypto Pilot, expects XRP to reach $0.72 this week.
📊This weeks predictions;#Ethereum hits $3,000 +#Bitcoin $55,000+#Solana $140+#Chainlink $23+#XRP $0.72c
— Marzell (@MarzellCrypto) February 18, 2024
The prediction is driven by the overall bullish performance of the crypto market, with the influencer calling for a BTC price of $55,000 and an ETH price of $3,000 before the end of the new week.
XRP to Hit $0.76 to $1 In A Few Months
Meanwhile, another analyst Dark Defender points to the technical charts as the basis for his belief in an imminent XRP increase. In his analysis, XRP current has three crucial Fibonacci support levels to thread on, including $0.5508, $0.5214, and $0.5085.
However, he does not necessarily expect the coin to touch the lower end of the chart before completing a correction. Instead, he is backing the correction and ongoing consolidation to not “last long.”
Afterward, he projects that XRP will rise toward the Fibonacci target levels of $0.6443, $0.6649, and $0.7646. It is noteworthy that if the price action reaches the highest projected level, XRP would have gained over 35%.
Hi all. 2 weeks back, we discussed #XRP completed the correction and targeting $0.60.
XRP formed Wave 1, hitting $0.5796 & bounced from the Orange Resistance for the daily frame.
The correction should be considered to
Fibonacci #Support Levels:
$0.5508, $0.5214, $0.5085It… pic.twitter.com/ZY5a2Z46KI
— Dark Defender (@DefendDark) February 17, 2024
Nonetheless, the analyst expects the XRP runup to happen between mid-March and April. The move will be followed by a slight correction and then a parabolic push to $1 between April and May.
At the time of writing, XRP is currently trading at $0.56, having gained over 8% in the past week. The crypto asset only needs to sustain such weekly growth levels for the latest price predictions to become a reality.