Anticipate a significant shift in the XRP market, according to a financial analyst's prediction to investors.
In a recent analysis, crypto market expert Shawn Marks has predicted that XRP, the third-largest cryptocurrency by market capitalisation, could be on the brink of a significant price surge.
Marks' forecast is based on XRP's impressive 92% rally over the past month, which saw the digital asset rise from $1.95 to around $3.60. Despite a brief pause and a 16% correction, the analyst remains optimistic about the bullish momentum. He views this correction not as a sign of weakness but as a healthy consolidation phase within an overall bullish structure.
According to Marks, once this consolidation ends, XRP is likely to resume its upward trajectory, targeting a price range of $10 to $15. This prediction suggests a potential explosive rally for XRP, fueled by renewed investor interest and market momentum.
The analyst's optimism is also backed by the technical indicators. The Relative Strength Index (RSI) of XRP has crossed above a key resistance level, and the Moving Average Convergence Divergence (MACD) shows a bullish crossover below the baseline. Moreover, a biblical move is forming on the long-term chart, according to Marks, with a similar structure to a 28x breakout during XRP's 2017 bull rally appearing to take shape again.
However, Marks does not dismiss the possibility of an eventual correction in the XRP price. He warns investors about short-term pullbacks as emotional traps for "dumb money" and advises them to remain patient and focused on the long-term bullish trend.
This explosive move in XRP's price has caught the attention of the broader crypto market, with many investors keeping a close eye on the digital asset's performance in the coming months. As XRP continues to show strong signs of recovery, it remains to be seen whether Marks' prediction of a price surge to the $10-$15 range will come to fruition.
[1] Source: CryptoAnalystNews.com [2] Source: CryptoTrends.io [3] Source: CryptoInsider.com
Investors may find altcoins like XRP increasingly attractive, given Marks' prediction of a potential substantial price surge in the coming months. As the finance world continues to embrace cryptocurrency and technological advancements, the investing landscape could see significant changes in the near future, with XRP potentially leading the charge.
