Ripple Eyes 6.5 Year Downtrend Breakout: Can XRP Hit $1?

0
17

Ripple (XRP) has endured a rocky multi-year stretch amidst ongoing litigation, regulatory uncertainty, and lagging price action. But after notching a series of wins in its high-stakes legal battle, Ripple now looks positioned to leave the struggles behind and make a triumphant push back towards its former glory days.

According to prominent crypto analyst DustyBC, XRP stands on the verge of a major technical breakout that could fuel a rally. After trading rangebound under a long-running downtrend since 2018, Ripple has now powered decisively through that resistance.

The clean break of a 6.5-year descending channel could confirm that bulls have regained control and momentum has shifted in XRP’s favor. That upside conviction sets the stage for prices to continue surging, unabated by historical limitations that have kept gains muted for ages.

Also read: Shiba Inu Official Forecasts SHIB To Hit $0.01

Can XRP hit $1?

This technical progress aligns with quickly improving fundamentals as Ripple notches repeated wins in its ongoing litigation with the SEC. With the case appearing to shift further in Ripple’s direction lately, the regulatory storm clouds that have plagued XRP for years may soon disappear for good.

Crypto researchers Changelly now eye XRP vaulting all the way back past the crucial $1 price point within the next 12 months. For context, that would require a nearly 43% surge from current values around $0.69. But considering XRP traded above that threshold as recently as late 2021, reattaining those highs with legal clarity seems reasonable.

Also read: Cryptocurrency: Top 3 Meme Coins That Could 10X This Bull Run

Of course, as with any crypto forecasting, predicting exact timeframes or price levels remains highly speculative. But between technical breakouts and fundamental tailwinds, the stage appears set for XRP to reassert itself near the top of the crypto hierarchy after years of playing catchup while its legal status hung in limbo.

XRP has also surged in price in the last 24 hours. According to CoinGecko data, XRP is up by almost 15% during this period.

Credit: Source link

ads

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here