- XRP soared from $0.61 to surpass $0.7440 within a four-hour window.
- Analysts foresee further gains, suggesting a potential move to reclaim $1.3.
- With XRP at $0.689, reaching $1.3 would demand another substantial 88% rally.
The recent outstanding surge in XRP’s price has reignited optimism surrounding the cryptocurrency, with market observers such as an analyst from the Cheeky Crypto channel foreseeing potential 88% further upward momentum.
On March 11, XRP witnessed a significant surge, with its value soaring by over 20%, leaping from around $0.61 to surpassing $0.74. Notably, this ascent occurred rapidly within a mere four-hour timeframe. It came amid XRP’s previous subdued performance, which has frustrated holders.
XRP Chart | CoinMarketCap
Moreover, XRP’s startling price rally propelled it to emerge as one of the top gainers in the market on Monday evening. While the rally was short-lived, with a pullback that has put XRP back in the $0.68 range, prominent analysts have asserted that the asset is poised for more gains.
In a recent analysis on the Cheeky Crypto channel, the presenter noted that following the recent breakout, XRP could move to reclaim the $0.8061 price level this week. While noting that the possibility of XRP reaching $0.8061 may be slim, he pointed out the market bullish momentum is currently in XRP’s favor.
Furthermore, the Cheeky Crypto analyst argued that XRP cracking the $0.8 threshold would set it up to test the one-dollar mark, specifically targeting $1.3. The analyst reached this conclusion after observing multiple bullish indicators for XRP through technical analysis.
Interestingly, XRP analyst Dark Defender has voiced a similar sentiment in a commentary about XRP’s recent surge. Dark Defender sees XRP rallying to $1.33 next, having surmounted the $0.664 resistance level.
With XRP’s current market value at $0.689, reaching the $1.3 target would entail another substantial 88% rally. Dark Defender anticipates this price target to materialize much sooner, as he told XRP holders to “expect solid strikes” in the coming weeks.
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