The prolonged stagnation of XRP below $0.60 has attracted criticism, with some market participants questioning the token’s sustainability in the long run. Nevertheless, a cryptocurrency trading specialist remains unfazed, asserting that XRP’s future outlook remains promising.
The expert’s optimism is rooted in the fact that the Ripple-affiliated token has been establishing a strong foundation since hitting a low point in June 2022, supported by an upward trendline that has proven resilient, as highlighted by Alan Santana’s analysis on September 26.
Santana pointed out that XRP has seen 1,650 days of consecutive higher lows and prolonged consolidation, signaling what could transpire in the next bullish cycle. This suggests that XRP might experience substantial gains in the forthcoming bullish phase, reinforcing its long-term potential.
“We have 833 days of accumulation, and this is a very positive sign. This extended accumulation period coupled with over 1,650 days of higher lows indicates a robust bull market ahead. We maintain a bullish outlook on XRPUSDT. New All-Time High in 2025,” Santana emphasized.
Despite acknowledging the possibility of short-term fluctuations and corrections, Santana emphasized that such movements are inconsequential in the broader context of XRP’s value. He noted that despite some bullish activity in 2023, XRP is currently in an accumulation phase.
The analysis forecasts that XRP is poised to target higher price levels in the coming years, potentially reaching $2 by 2025. Santana also suggested that XRP could surpass its previous all-time high of $3.84, underscoring the current accumulation phase as a significant opportunity for long-term holders.
Another analyst, Egrag Crypto, echoed the bullish sentiment in a post on September 28, urging XRP investors to exercise patience as the token gears up for a potential price surge.
While currently hovering around the $0.60 mark, Santana advised investors to monitor the resistance zone of $0.64 to $0.65 closely. A decisive breakout above this range could signal a bullish reversal, establishing it as a robust support level.
Once this resistance level is breached, XRP could swiftly target its next milestone of $0.75, serving as a springboard for a substantial rally towards the coveted $1 mark and potentially beyond.
The ongoing legal uncertainties surrounding Ripple and the SEC case have hindered XRP’s breakout from its consolidation zone. Nevertheless, a favorable outcome for Ripple in the legal battle could provide XRP with a significant advantage, especially amidst the anticipated altcoin season.
Additionally, a diverse range of experts, including pseudoanomalous analyst Mikybull Crypto and AI-driven tools like PricePredictions, anticipate bullish momentum for XRP in the near term.
With XRP trading at $0.61 at present, showing optimistic sentiment, its price action indicates a bullish trend, as it is trading above key moving averages. While the RSI remains neutral, XRP investors are advised to closely monitor the price fluctuations around the $0.60 level to gauge potential market movements effectively.