Recent forecasts by crypto expert ChartNerd highlight the potential for XRP to undergo a significant structural bullish shift. This move could result in the altcoin reaching unprecedented heights. ChartNerd emphasizes the critical importance of XRP maintaining its position above the pivotal $1 threshold for a bullish trajectory to gain momentum.
XRP Set for a Transformative Upsurge
In a recent social media post, ChartNerd articulated the reasons XRP might be on the brink of a substantial bullish transition. After experiencing six continuous months of downturn, signs are emerging that the altcoin is poised for a reversal. Notably, the MACD and RSI indicators have reached levels typically associated with market entry points.
Furthermore, ChartNerd pointed out that XRP is currently testing a significant resistance line from eight years ago, coupled with Fibonacci retracement levels. Highlighting that this marks the first backtest of the 50-EMA since November 2024, he identified a wick present at the 0.618/0.5 Fibonacci zone. These key zones are often recognized for facilitating market reversals, which adds weight to the argument for a potential upward shift for XRP.
ChartNerd asserted the necessity for XRP to remain above the critical $1 mark for its upward movement to continue. He cautioned that a breach below this threshold could propel the price down to $0.70, a considerably concerning scenario relative to previous price levels observed from 2023 to 2024.
In a related note, crypto analyst TARA recently warned that XRP might plunge to $0.87 if Bitcoin trades around $52,200. Additionally, analyst CasiTrades speculated that XRP may experience one last dip down to $0.90 but noted that regaining $1.65 could negate any downward trajectories.
Indications of Ebbing Selling Pressure
Analyst BitGuru remarked that the selling pressure on XRP seems to be diminishing. He observed that although the altcoin has been entrenched in a macro downtrend, it has started reacting positively from a historically significant demand area between $1.30 and $1.35. This shift is creating a solid support base, as indicated by a sharp bounce from below that suggests waning selling momentum.
Another crypto analyst, Javon Marks provided an optimistic forecast for XRP in the long term, highlighting that an upcoming altcoin season may benefit the token substantially. He envisions XRP climbing back above $2.47 and potentially reaching $4.8, setting new all-time records. He further speculated that reaching $15 is still a possible scenario on the horizon for this cryptocurrency.
As of now, XRP trades at approximately $1.37, reflecting a price decrease over the past 24 hours, based on data retrieved from CoinMarketCap.
