Ripple’s native token, XRP, finds itself at a pivotal moment, with its upcoming movements potentially shaping its future trajectory. A renowned trader, Credible Crypto, emphasizes that XRP’s next steps are intricately linked to Bitcoin’s performance, as both cryptocurrencies are positioned at crucial levels. Speculation is rife that XRP might revisit its all-time high (ATH) of $3.38 sooner than anticipated.
XRP’s Pathway to $2: A Market Shift in the Making
XRP’s recent performance has been nothing short of remarkable, with its value skyrocketing by 90% over the past 90 days. This surge significantly outperforms Bitcoin’s 51% rise and Ethereum’s 20% gain within the same timeframe. XRP’s robust momentum points to a potential market shift, sparking expectations that it may outpace both Bitcoin and Ethereum.
According to Credible Crypto, if XRP maintains its current range, it could climb beyond $2. For this upward trend to persist without a significant pullback, Bitcoin needs to remain above the $94,000 mark. This crucial juncture is not only significant for Bitcoin but also for XRP, as their trajectories are intertwined at this stage.
Challenges Ahead: The Risk of Bitcoin’s Decline
Conversely, if Bitcoin falters and drops below $94,000, XRP is likely to mirror this decline, breaching the $1.10 support level. This would mark the end of XRP’s first major Wave 1, which propelled the token from $0.48 to recent highs of $1.62. Such a downturn could lead to a notable pullback, potentially offering a buying opportunity for investors.
Is This the Final Dip Below $1?
If XRP dips beneath $1.10, Credible Crypto views it as an excellent opportunity for investors to accumulate, especially within the $0.48 to just under $1.10 range. On the other hand, should XRP hold firm and achieve a fifth-wave extension, it may never drop below $1 again, heralding a new phase of bullish momentum.
As of now, XRP’s price has surged to $1.43, reflecting a 27% increase over the past week, with its market capitalization reaching $82.1 billion.
