XRP To Skyrockets To $1.33 Amidst April Rally: Analysts
March 13 2024 - 1:00PM
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XRP has demonstrated significant strength for a while now, securing
its spot as one of the best-performing cryptocurrency assets by
market cap, after surging to its highest level since November. XRP
To Yield Gains From April Rally The crypto community is buzzing
about XRP’s latest price spike as several analysts predict the
surge will be the start of the eagerly anticipated rally. With a
50% rise from $0.50 on Monday, March 11, to a weekly high of $0.75,
it got off to a great start this week. Related Reading: XRP On The
Brink – Bullish Pattern Or Profit-Taking Retreat? Cryptocurrency
analyst and trader Dark Defender has shared his latest optimistic
forecast for XRP with the community on X (formerly Twitter). Dark
Defender highlighted that the crypto asset “broke out” from a
strong resistance on Tuesday, just as he expected. XRP broke out
from a 6-year-long symmetrical triangle, which denotes a phase of
consolidation with prices bouncing between the lower support line
and the upper resistance. According to the analyst, the monthly
time frame clearly shows that the much-anticipated move has begun.
Also, the daily time frame “confirms that the massive resistance
level of $0.6649 has been broken.” He further added that for
the “weekly and monthly time frame, $0.6649 will possibly be
confirmed.” As a result, Dark Defender underscored that his targets
are now “closer to the mid-resistance around the $1.33” price mark.
Meanwhile, he has placed his “Fibonacci price targets at $1.88 and
$5.85 in the upcoming weeks.” The post read: XRP had the
break-out yesterday, as we expected. In the Monthly Time Frame, it
is obvious the move has started and the huge Resistance of $0.6649
has been confirmed to be broken in the Daily. $0.6649 will be
Confirmed for the Weekly and Monthly Frames. Our targets are closer
now to $1.33 mid resistance, and $1.88 and $5.85 Fibonacci targets
in the upcoming weeks. As a result, the expert has urged the
community to watch out for “solid strikes” in the coming week. In
addition, he noted that “April will be hot,” suggesting significant
gains throughout the month. Presently, the digital asset gradually
gaining strength trading at $0.6897, indicating a weekly increase
of over 12%. However, its market cap and trading volume are both
down by 1.58% and 57% in the last 24 hours. The Asset Does Not
Belong In Your Portfolio Despite XRP’s latest rally, crypto expert
Jason Pizzino has claimed that investing in the token might not be
a smart move. Jason Pizzino has issued a warning to the community
never to consider adding XRP to their portfolio. Related Reading:
Crypto Analyst Says XRP Price Could Rocket 2,300% To $14.6, Here’s
How He claims that “even though it climbs this cycle, it still
“needs to rise more than 2600%” in value to match Bitcoin‘s peak of
2017. “It achieved 500% in the previous cycle and is now only 30%
away from shattering the SEC Lawsuit low,” he added. Pizzino
believes that the major advantage of influencers discussing XRP is
that there is still a “large audience interested” in knowing about
the project and “optimistic price projects that never appear.”
Featured image from iStock, chart from Tradingview.com
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