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Title: XRP Is Screaming for New All-Time Highs: Are You Seeing This? (Analyst)
Ripple’s native token, XRP, has made a remarkable surge in the recent past. Despite experiencing a slight decline over the past 24 hours, it is still up by a staggering 27% week-on-week. This significant growth has led some analysts to predict that XRP may be on the cusp of breaking new ground and achieving all-time highs.
According to TradingView data, XRP surged to just over $3 yesterday, marking its highest price level in more than four months. While it was unable to push beyond this point for now, at least, one prominent analyst is confident that a new all-time high could be imminent.
The analyst in question has previously accurately forecasted the asset’s significant growth from around $2.3 to over $2.6 and then further. They are now making even more ambitious claims, suggesting that a weekly close above the current resistance level of $3 could trigger a breakout to as high as $4.80. This would be an unprecedented level for XRP, exceeding its previous peak price by more than 50%.
Notably, XRP’s recent performance has drawn parallels with a similar pattern seen in 2017. At that time, this cryptocurrency experienced a massive triple-digit surge, leaving many investors and analysts stunned. In light of these historical precedents, it is clear that the asset is capable of extraordinary growth.
In addition to these analytical insights, the CEO of SBI Global Asset Management has weighed in on the situation. He praises XRP’s significant potential due to its increasing prominence in global remittance and characterizes it as “the wealth transfer of our generation.”
While XRP has recently corrected slightly, the prevailing market sentiment remains overwhelmingly positive. In fact, many view this recent correction as a healthy sign following several consecutive days of price increases.
Source: TradingView
Source: cryptopotato.com
