XRP Is Slowly Recovering. Analyst Sets Timeline for $7 If Rally Continues
Main Idea
XRP is showing signs of recovery, with analysts projecting a potential rise to $7 and beyond if key resistance levels are breached and current trends continue.
Key Points
1. XRP is trading around $2.99, recovering from a dip below $2.90, with analysts watching for a breakout above $3.35 to $3.60.
2. Analyst Crypto Bitlord projects XRP could reach $7 quickly if it gains momentum, with $21 possible in extended bullish conditions.
3. Over 93% of XRP holders remain in profit despite short-term volatility, indicating strong underlying support.
4. Key resistance levels are identified between $3.80 and $4.20, with a monthly close above $3.03 seen as a bullish signal.
5. Fundamental drivers for XRP include adoption, the launch of RLUSD stablecoin, and positive regulatory momentum from its 2023 court victory.
Description
XRP is showing signs of a slow but steady recovery, reigniting optimism across the crypto market. Prominent crypto analyst Crypto Bitlord recently took to X to express confidence in XRP’s upward trajectory, stating: “XRP is slowly recovering, thank God. If we can raise a little higher this week, no reason $7 won’t be seen quickly. And after $7 comes $21…” Price Action and Technical Overview As of report time, XRP is trading around $2.99, recovering from a brief dip below $2.90 earlier in the wee...
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