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Here’s What Can Trigger XRP’s Next 30% Surge: Analyst
As the cryptocurrency market continues to experience a rollercoaster of ups and downs, Ripple’s (XRP) performance has been particularly striking. With its recent price surge, many investors are left wondering what could trigger its next massive move – potentially even a 30% surge.
Recently, renowned crypto analyst Ali Martinez shed some light on the topic, offering his insights on the matter. According to him, it all boils down to whether XRP can hold above its crucial $2 support level. If this happens, there’s a possibility that the asset could rally by 30%, potentially reaching the upper boundary of its current channel at around $2.60.
Martinez emphasized the significance of the aforementioned support level in his recent tweet, stating that if XRP manages to stay above it, a surge towards the target price is quite likely. In contrast, he warned about a bearish scenario in which this key level would be breached, potentially resulting in a drastic 50% drop to $1.3.
The analyst pointed out that Ripple’s explosive growth in November and December last year provides some support between these two levels, but it appears as though the asset is on the verge of breaking through it, setting the stage for a potential downward trajectory.
Despite this grim possibility, Martinez maintains an overall optimistic stance towards XRP’s prospects. He highlighted that the TD Sequential also flashed a buy signal on the daily chart recently, which could potentially fuel further growth.
In light of these findings, investors would do well to closely monitor the price action around the $2 support level.
Source: https://cryptopotato.com/heres-what-can-trigger-xrps-next-30-surge-analyst/
