Key points:
- XRP soared from $0.61 to surpass $0.7440 within a four-hour window.
- Analysts foresee further gains, suggesting a potential move to reclaim $1.3.
- With XRP at $0.689, reaching $1.3 would demand another substantial 88% rally.
The recent outstanding surge in XRP’s price has reignited optimism surrounding the cryptocurrency, with market observers such as an analyst from the Cheeky Crypto channel foreseeing potential 88% further upward momentum.
On March 11, XRP witnessed a significant surge, with its value soaring by over 20%, leaping from around $0.61 to surpassing $0.74. Notably, this ascent occurred rapidly within a mere four-hour timeframe. It came amid XRP’s previous subdued performance, which has frustrated holders.
Moreover, XRP’s startling price rally propelled it to emerge as one of the top gainers in the market on Monday evening. While the rally was short-lived, with a pullback that has put XRP back in the $0.68 range, prominent analysts have asserted that the asset is poised for more gains.
In a recent analysis on the Cheeky Crypto channel, the presenter noted that following the recent breakout, XRP could move to reclaim the $0.8061 price level this week. While noting that the possibility of XRP reaching $0.8061 may be slim, he pointed out the market bullish momentum is currently in XRP’s favor.
Furthermore, the Cheeky Crypto analyst argued that XRP cracking the $0.8 threshold would set it up to test the one-dollar mark, specifically targeting $1.3. The analyst reached this conclusion after observing multiple bullish indicators for XRP through technical analysis.
Interestingly, XRP analyst Dark Defender has voiced a similar sentiment in a commentary about XRP’s recent surge. Dark Defender sees XRP rallying to $1.33 next, having surmounted the $0.664 resistance level.
With XRP’s current market value at $0.689, reaching the $1.3 target would entail another substantial 88% rally. Dark Defender anticipates this price target to materialize much sooner, as he told XRP holders to “expect solid strikes” in the coming weeks.
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