Christmas limelight.
Although XRP price is still lagging behind its all-time high of $3.30, some analysis indicates that it could soon start rising towards its peak. Following the recent rise, several analysts predict that XRP will rise even further and reach all-time highs in the coming months.
Short-term price target set at $5 for XRP
Jake Gagain, cryptocurrency expert and trader, do a bold prediction for XRP, noting that the asset could reach a new high in this bull cycle. Analyst forecasts examine the upside potential of crypto assets before and after the Bitcoin halved event which should take place in April.
Gagain claims that “XRP is one of the leading crypto assets today.” However, “unlike other notable coins,” the coin reached its all-time high of $3.30 over 6 years ago.
Furthermore, Gagain claims that the token was unable to reach a new high during the 2021 bull run due to its legal disputes with the United States Securities and Exchange Commission (SEC).
In December 2020, the SEC accused Ripple of raising more than $1.3 billion through the sale of XRP in an unregistered securities offering, which Gagain said was the reason for the delay of the coin in 2021. Another factor Gagain considered was the massive number of tokens that “Developers were dumping” on a monthly basis.
However, if the company manages to win the case, Gagain believes that XRP could reach a new all-time high at the height of the current bull cycle. As a result, the crypto analyst places his price target at the $5 threshold after the bull run ends.
According to Jake Gagain, the Bitcoin halving event will take place in approximately 30 days and the market is already showing strong momentum. Specifically, the total crypto market cap stands at $2.5 trillion, indicating an increase of over 4% over the past day after a slow week.
Gagain also addressed a few other top crypto assets in the market, predicting massive gains ahead of the halving. These include Bitcoin (BTC) – the largest digital asset, Ethereum (ETH), Solana (SOL)And Cardano (ADA).
Target of $1 for current April
Another crypto analyst optimistic about XRP is Dark Defender, predict that a “$1 price by April is in the works.” This suggests that the coin could reach this level before the halving.
Dark Defender highlighted that as of February 28, the asset was trading at $0.58. Meanwhile, he expects XRP to be fixed at “$0.6462 by March 1, between $0.77 and $0.92 on March 13, and $1 by April.”
Considering the new high of $0.75, he estimates that the near-term Fibonacci levels will range between $0.9772 and $1.5048, or $2.3172. He expects his April targets to expand “if XRP maintains the Orange support level of $0.58, which has performed admirably.”
Featured image from iStock, chart from Tradigview.com
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