Cryptocurrency analysts are predicting a bullish future for XRP, citing recent market activity and technical indicators as signs of potential growth in the coming months. Cryptocurrency analysts Loeb Crypto and Hov shared their bullish assessments, highlighting key price levels and patterns that suggest XRP could be poised for further gains.
After further analysis of HTF, this year may be just that. $XRP
There were also some major shocks that left the vast majority, including die-hard XRP holders, on the sidelines.
I am a swing and position trader. I see great opportunities right now.
I’m scaling… pic.twitter.com/rIWsHb4Dg8
— LE₿ C®️YPTO (@leb_crypto) July 22, 2024
Leb Crypto XRP/USD analysis on Bitstamp from 2014 to mid-2024 shows a notable breakout above the point of control (POC) at $0.60954. The monthly price chart illustrates a range low of around $0.17552, a POC of around $0.60954, and a range high of around $1.96143.
This recent break above POC suggests a strong bullish trend, with the bull flag indicating further upside potential. Increased trading activity during price spikes, as seen in the volume bars, reinforces the current bullish sentiment.
Leb Crypto also noted the relative strength of XRP on lower time frames (LTF). If Bitcoin (BTC) remains range bound, XRP could potentially reach $0.64, which is in line with current trends and suggests further gains if current trends continue.
Similarly, crypto analyst Hov reported a 66% increase in XRP returns from its initial level, highlighting a shift from a three-wave move to a more promising impulse pattern.
However, Hov warned of a potential correction to the $0.47 level, which could be a decisive test of the bullish trend. The presence of a bearish account remains a concern, highlighting the importance of the $0.47 level to maintain the upward momentum.
$XRP
XRP is now up over 66% from our entry level and has done exactly what we wanted to see on lower tf
We broke the alt reversal levels from the last update and turned the three wave move into a decent momentum (linked)
Now we’re looking for that three-wave pullback in our… pic.twitter.com/KbUqWihv9U
— Hov (@SenseiHov) July 22, 2024
At press time, XRP was trading at $0.5985, with a daily trading volume of $2.34 billion. This represents a 1.09% increase over the past 24 hours and an 11.46% increase over the past week.
Leb Crypto and Hov offer a cautiously optimistic view on XRP’s potential. With recent indicators and market data pointing to a bullish trend, XRP could continue to attract the attention of traders and investors in the coming months.
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