Despite regulatory uncertainties and market fluctuations, XRP has faced off against persistent weak trends. But amid the negativity, optimism for a substantial reversal for XRP has emerged, with various crypto analysts presenting potential indicators signaling a significant price surge on the horizon. Renowned crypto analyst “Dark Defender” believes that XRP has undergone a prolonged period of consolidation and is now developing the third wave, supported by a MACD bullish crossover on the monthly timeframe.
Another analyst, “Perry XRParker,” offered a more optimistic long-term perspective, predicting a $7-$13 price range by 2025. Furthermore, the crypto community is optimistic about a potential resurgence of XRP in 2024 due to some encouraging events such as the anticipated conclusion of the SEC lawsuit, a potential Ripple IPO, and the upcoming Bitcoin halving which could trigger a rising tide for the cryptocurrency sector. However, after losing the psychologically significant support level of $0.50, XRP sellers are poised to exert more pressure, and for a bullish reversal, bulls need to propel and sustain the price above that level assertively. In the event of a successful breakthrough, XRP could witness an ascent to the $0.90 resistance, possibly extending further to $1. At the time of the publication, XRP was trading at $0.51 after a 3.31% gain in the past 24 hours.