XRP on Track to Hit New Highs Despite Price Frustrations, Analysts Say
- XRPs pric rmins 81% below its 2018 high, with limitd gins comprd to othr ltcoins.
- Dspit skpticism, loylists bliv th cryptocurrncy could soon surpss its previous ll-tim highs.
- Anlysts trgt $1.35 rsistnc, with som projcting potntil rlly to nw ll-tim highs.
Th pric of XRP, Ripples ntiv tokn, hs lft mny invstors frustrtd. Currntly trding round $0.72, it rmins 81% blow its 2018 ll-tim high of $3.84. In contrst, Bitcoin is in pric discovry mod, hving gind 112% yr-to-dt (YTD). XRP, howvr, hs mngd only n 11% YTD incrs, significntly lgging bhind ltcoins lik Soln nd BNB, which hv chivd ovr 100% YTD gins.
Among th top 100 cryptocurrncis by mrkt cp, 71 hv outprformd XRP in nnul growth. Ths rsults hv ld mny to qustion XRPs potntil in bullish mrkt. Dspit th skpticism, XRP loylists bliv in th cryptocurrncys untppd potntil, ssrting tht it could soon chiv gins rivling its prvious highs.
XRPs Potential Amid Frustrating Price
On X, mcro invstor known s Pharaoh rmrkd tht XRPs pric ction cn b frustrting for holdrs du to its slow nd smingly supprssd movmnt. Dspit this, Pharaoh rmins optimistic, sying, Until tht on dy, it just shoots stright ovr ll-tim highs within wks.
Drwing prlll to th pst, XRP supportrs rcll th tokens drmtic ris during th 2017-2018 bull run. At tht tim, th tokn ws pricd t just $0.2365 on Dcmbr 11, 2017, but surgd by 1,523% in thr wks to rch pk of $3.84. This mmory of rpid gins rinforcs th hop mong holdrs tht it could onc gin brk out of its currnt stgntion.
Analysts Eye $1.35 Resistance
Rcntly, th cryptocurrncy hs shown positiv movmnt, rising ovr 30% this wk to rch $0.72, lvl it hsnt sn in th pst ight months. Holdrs r closly monitoring th coin, drwing inspirtion from its pst prformnc, for signs of potntil rlly.
Lding mrkt nlyst Drk Dfndr hs projctd tht XRP could nxt trgt th $0.74 mrk. If it mintins support bov $0.6649 nd surpsss th $0.74 thrshold, Dfndr suggsts it could im for $1.03. Pro-XRP ttorny Bill Morgn shrs this outlook, commnting bring it on in rspons to Guy on th Erth, who idntifid th $1.35 trgt, rflcting Morgns blif in th tokens potntil.
Jvon Mrks, nothr prominnt nlyst, ss its rcnt pric uptick s n rly sign of bullish momntum. H suggsts tht this could mrk th beginning of significnt rlly, potntilly pushing it to nw ll-tim highs. Mrks consrvtiv trgt is $15, but if th rlly gins momntum, th cryptocurrncy could surg s high s $200.
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Text source: TronWeekly
