XRP Price Could Surge Another 30% If This Trend Is Confirmed

Crypto analyst ChartNerd has raised the potential of the XRP worth recording one other 30% surge from its present stage. This comes even because the altcoin risks erasing its year-to-date (YTD) positive aspects because of the latest crypto market crash. 

How The XRP Price Could Rally To $2.70

In an X post, ChartNerd acknowledged {that a} potential XRP worth rally to $2.70 is a chance within the close to time period if the altcoin can maintain the Fib help targets and mark the next low. He highlighted three Fib support levels, together with the 0.5 at $2, 0.618 at $1.99, and 0.786 at $1.89. He famous that the $2.70 was the bottom of the descending triangle, across the space the place XRP broke down from following the October 10 crypto crash final 12 months. 

ChartNerd additionally defined that the XRP worth was at present in a falling wedge breakout pattern and that this usually results in rallies as high as the place the coin had damaged down. As such, on this case, XRP might attain the descending triangle resistance at $2.70. The crypto analyst had additionally highlighted bullish fundamentals that might drive the rally towards this goal. This consists of Ripple’s alleged ties to South Korea’s tokenized infrastructure and projected main growth for XRP. 

However, it’s value mentioning that the XRP worth can be susceptible to an additional decline amid the most recent crypto market crash, led by Bitcoin. BTC has dropped to as little as $92,000 within the final 24 hours, forcing XRP to crash beneath the psychological $2 stage. This crash has occurred on the again of the most recent Trump tariffs on some European nations over the U.S. proposed takeover of Greenland. The EU is weighing retaliatory tariffs, which might escalate this into one other full-blown commerce warfare. 

The Crash Could Be A “Blessing In Disguise”

In one other X post, ChartNerd urged that the latest XRP worth crash might be a blessing in disguise. This got here because the analyst alluded to the $1.80 liquidity pocket on the month-to-month heatmap. He famous that this newest drawdown has swept the altcoin into that precise sell-side liquidity, a transfer which ChartNerd described as a readability response. 

ChartNerd also suggested that the XRP worth is probably going a minor setback fairly than a serious retracement. He famous that though altcoins are taking hefty hits, Bitcoin hasn’t misplaced any key construction and that every one he sees is “alternative” till the trendline is invalidated. As such, XRP might see a bounce if BTC successfully defends this trendline. 

At the time of writing, the XRP worth is buying and selling at round $1.96, down over 4% within the final 24 hours, based on data from CoinMarketCap.