Ripple (XRP) has recently surged past a significant resistance level, exceeding $0.66 and indicating the potential for further gains to approach the $0.75 mark. This positive momentum has garnered attention from crypto analysts, particularly EGRAG CRYPTO, who share an optimistic outlook on XRP’s price trajectory over the next three months.
However, analysis discloses that the Triangle pattern remains intact, a widely recognized technical pattern suggesting further upward moves for XRP. The historical data shows that XRP has always surpassed the Triangle’s projected movements in past cycles, denoting strong bullishness and prospects for huge profits.
Given this trend, however, there is the possibility of substantial price appreciation of XRP where it could even reach double or triple digits within its prices. Further examination of candlestick patterns supports this optimism with formation implying a bullish hammer, reinforcing the likelihood of upward action on XRP.
The analyst predicted that XRP would test $1.2 within a single candle, which shows how volatile prices can be over the short term. Investors may soon have to let go of their dreams of buying XRP at less than one dollar because its value keeps increasing steadily. The latter indicates an increasing optimism about what lies ahead for XRP.
XRP Short-term Price Forecast
XRP has dropped slightly since breaking a key resistance level. At the moment, XRP’s current price equals $0.637352 with $6.86B trading volume over 24 hours, while its market cap is $34.84B as of present day. XRP fell by 1.13% within the last 24 hours.
Changelly’s latest analysis paints an optimistic picture for Ripple, projecting that its value could rise by 19.64%, surpassing the $0.753506 mark by March 05, 2024. This forecast indicates hope to people looking out for Ripple.
Changelly’s analysis goes into more technical aspects, bringing out a strong bullish sentiment around Ripple with confidence at 75%. This means that there are a lot of traders who are positive about this digital currency, and it may be one reason behind the increasing momentum in its value.
Besides, it’s worth mentioning that The Fear & Greed Index is currently at a high score of 83, which indicates extreme greed among investors, pointing to heightened enthusiasm and optimism towards Ripple’s future.
Moreover, XRP Whale account which is well known for its insightful market analysis as well as bold predictions recently made a daring forecast on social media. They confidently declared via an X post that within 72 hours, the price of $XRP – the digital asset linked to Ripple – will hit $1.50.