Market Expert Predicts XRP Price Surge to $38 Amid Crypto Recovery
Key Highlights:
- XRP price jumps 6%, trading around $2.5, as the broader crypto market recovers.
- Analyst forecasts XRP reaching $38, citing technical and historical trends.
- Another expert projects a short-term surge to $27, boosting market optimism.
XRP has seen a 6% surge today, currently trading near $2.5, alongside a significant uptick in trading volume. As the crypto market rebounds, a well-known analyst predicts that XRP could rally to $38, referencing key technical indicators and historical price patterns. Additionally, recent developments in the Ripple vs. SEC case have further fueled speculation about the coin’s future trajectory.
XRP Price Rally: New All-Time High on the Horizon?
XRP’s one-day trading volume has skyrocketed by 233% to $10.5 billion, reaching a 24-hour high of $2.57 and a low of $2.31. Notably, XRP Futures Open Interest has risen 15% to $3.76 billion, reflecting increasing market interest.
Amid these movements, Ripple CEO Brad Garlinghouse hinted at a significant legal victory, strengthening investor confidence and boosting expectations for a sustained price rally.
Will XRP Hit $38?
Prominent analyst Gert van Lagen recently shared a bullish projection, predicting XRP’s continued parabolic uptrend. According to his analysis, XRP is bouncing off the neckline of a 7-year-old Double Bottom/Ascending Triangle pattern, setting the stage for a potential surge to $38.
His forecast is based on historical trends, noting that a previous breakout of lesser magnitude led to a parabolic price increase. If history repeats itself, XRP could surpass even the $38 mark, making this a potentially conservative estimate.
What’s Next for XRP?
Several key developments could influence XRP’s price trajectory in the coming weeks:
- Ripple’s ongoing legal battle: Ripple CLO Stuart Alderoty’s comments on a cross-appeal have further strengthened investor sentiment.
- Institutional investment in XRP: Crypto derivatives exchange Bitnomial recently launched an XRP Futures Contract, attracting increased trader interest.
- Additional analyst predictions: Another crypto expert, EGRAG CRYPTO, predicts that XRP will first reach $27 in the near term, before potentially climbing to $8 upon breaking the $2.9 resistance. Long-term forecasts even suggest a triple-digit price rally for XRP.
As market conditions align with these bullish signals, XRP investors are watching closely to see if the token will reach these ambitious targets.
