Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The recent XRP price action has sparked a broader bullish sentiment among crypto investors and analysts. The cryptocurrency\u2019s 10% surge in the last week has driven the price above levels not seen in nearly a month, continuing its green performance in most long-term timeframes. As a result, some market watchers have set their bullish targets for the cryptocurrency, claiming that the multi-year consolidation is coming soon to an end. Related Reading: LayerZero Surges over 7% As Bulls Ignite Fresh Rally, A $4.5 Breakout Looms? XRP To Reclaim $0.75? XRP\u2019s price suffered a massive drop when the US Securities and Exchange Commission (SEC) filed its lawsuit against Ripple nearly four years ago. The SEC claimed that the company had illegally sold the cryptocurrency as an \u201cunregistered security.\u201d The crypto crackdown drove investors away from the token as uncertainty about the token\u2019s status and the lawsuit\u2019s resolution grew. However, Ripple\u2019s victory against the SEC has sparked a bullish sentiment among users, reflecting on its recent price action. Investor and analyst CredibleCrypto deemed that XRP\u2019s trajectory to a new all-time high (ATH) is a matter of \u201cwhen\u201d and not \u201cif\u201d after the court\u2019s ruling. The analyst noted that the cryptocurrency has moved between the $0.40-$0.75 price range since March\u2019s highs, only registering a \u201cdeviation\u201d from this level in July. According to the investor, the deviation \u201cforcibly pushed below the range low to trick breakout traders into buying\/selling before price moves right back into the range and heads in the opposite direction.\u201d Following the August ruling, the token has hovered between the $0.55 to $0.64 mid-range level but recently registered another \u201cdeviation\u201d during the early September market retrace. This could suggest that XRP\u2019s price is poised to retest the accumulation\u2019s upper level. To the analyst, the token will retest the $0.75 resistance level before kickstarting its massive bull run. However, he noted that this scenario will likely only play out if Bitcoin (BTC) bounces to the $61,000-$62,000 price zone \u201crelatively soon.\u201d A Massive Breakout Eyes Double-Digits Credible Crypto also highlighted that XRP displays \u201cThe Mother\u201d of all bullish patterns in the longer timeframes. Per the post, the token seemingly exhibits a multi-year bullish pennant pattern that could lead to a breakout. To the analyst, this \u201cnear 7-year compression will be coming to an end soon,\u201d which could result in a \u201clegendary\u201d rally for the cryptocurrency. Moreover, he added that the breakout\u2019s possible targets will surpass the $3.4 mark as it is set to make a new ATH at a \u201cminimum.\u201d After that goal, the trader stated that investors would be \u201clooking at double digits\u201d for the next targets. Similarly, Crypto Trader Mikybull noted XRP\u2019s bullish pattern, asserting that it displays \u201cone of the most bullish macro charts out there.\u201d Related Reading: Solana Price (SOL) Consolidates: Time for a Fresh Comeback? Another analyst also suggested that XRP will be one of the top performers during the upcoming bull run. As October approaches, Charlie.eth considers that a \u201csignificant recovery seems likely,\u201d which could lead to the mid-term target of $2.5 before aiming for a long-term target between the $10-$12 mark. At the time of writing, XRP\u2019s price registers a 4% surge in the last 24 hours, trading at $0.58. The cryptocurrency also saw a 13.6% increase in its daily market activity, reaching a daily trading volume of $1.29 billion. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":637871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[428,1119,92131,26263,10923,85288,89756,3680,88207,85514,3799,91116,4531,78763],"class_list":["post-642680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-bitcoin","tag-btc","tag-bullish-prediction","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-crash","tag-crypto-trader","tag-ripple","tag-ripple-lawsuit","tag-ripple-vs-sec","tag-sec","tag-securities-and-eexchange-commission","tag-xrp","tag-xrpusdt"],"acf":[],"yoast_head":"\n
XRP To Have \u2018The Mother\u2019 Of All Bull Runs, Analysts Set Targets<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n