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Title: XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens
XRP has recently broken out of a significant resistance zone on the daily chart, indicating a strong bullish momentum that could propel it towards a long-term target of $5.85.
According to an analyst, XRP’s recent price action suggests that the asset is poised for another upward surge, with key resistance levels providing the impetus for this potential movement.
To set the stage for another upward move, XRP would need to break above the critical level of $2.72 and retest its current 2024 high of $2.92. If successful, this break would open up the possibility for new price highs in over six years.
A subsequent push past the $2.92 mark could lead to an intermediate target at $3.43, which is XRP’s all-time high that has remained intact for over seven years. This intermediate target serves as a crucial stepping stone on the path towards the long-term objective of $5.85.
If the predicted surge materializes, it would result in a massive 133% increase in price and an accompanying growth to a market capitalization of approximately $351 billion.
It is worth noting that despite bearish pressure, XRP’s price has demonstrated strength in recent days, suggesting that investors are not deterred by current market conditions.
Source: bitcoinist.com
