XRP price has surged nearly 10% today, indicating a renewed market interest in Ripple’s native asset. This robust surge comes amid a broader crypto market recovery and positive developments like the successful ETF launch in the US. A top expert has highlighted the XRP/BTC performance and predicted that Ripple’s native asset could hit $22 if Bitcoin hits a new all-time high (ATH) ahead. The expert, known as EGRAG CRYPTO, pointed out a major bullish signal on the XRP/BTC chart involving a rare crossover of two key indicators, the 55-week Exponential Moving Average (EMA) and the 155-week Moving Average (MA). This “Bullish Cross” could lead to a massive surge for XRP holders.
EGRAG highlighted that the last time this crossover occurred was in May 2017, leading to a 958% rally in XRP price shortly after. A similar cross took place recently and could potentially repeat the explosive pattern if market conditions align. If XRP/BTC retests the 55 EMA level at 0.00001850, Ripple’s coin could reach around $1.48, assuming Bitcoin trades at $80,000. And if XRP/BTC gains another 958%, XRP price could skyrocket much higher. The prediction heavily depends on Bitcoin’s next major move, with potential price targets for XRP ranging from $16.5 to $29 based on different Bitcoin price levels.
The significance of the 55 EMA and 155 MA combination is often overlooked by many traders, according to the analyst. Despite doubts surrounding XRP’s ability to reach double digits after the recent market crash, the analyst believes that the chart signals a different story. As long as the XRP/BTC pair holds above the 55 EMA, the bullish projection for the XRP price remains valid. Today, XRP price surged nearly 10% to $2, with a one-day volume increase of 3% to $8 billion. The XRP Futures Open Interest also saw a surge past $3 billion with over a 4% increase, indicating growing market interest in the asset.
The recent surge in XRP price comes as the Ripple network experiences a significant increase in active addresses. Furthermore, the launch of the XRP ETF in the US has boosted market confidence. The Teucrium 2X Long Daily XRP ETF saw impressive first-day volume, outshining other ETFs like Solana’s 2X ETF. Considering these fundamental developments, the crypto market is gearing up for a major rally ahead. If the analyst’s forecast holds true, XRP could potentially reach over $20 in the coming days. Overall, the renewed market interest in XRP and positive technical signals suggest a bullish trend for Ripple’s native asset in the near future.
