Coin Edition -
- Despite FUD surrounding XRP, the asset is gearing up for a bullish run.
- An analyst stressed XRP’s need to reclaim $0.6649 to pave the way for a potential rally towards $2.
- XRP is trading at $0.5591, reflecting barely a 1% gain over the last 24 hours.
A notable crypto analyst on X has outlined a crucial condition that could lead XRP to reclaim a peak value beyond the $1 threshold amid the growing bull market. In a recent post, X-based market watcher ‘Dark Defender’ called attention to ongoing debates concerning XRP and their impact on the asset’s market value.
Great discussions on ODL or programmatic sales of #XRP are ongoing and created significant FUD where I had no impact.Meanwhile, XRP preparing for the surge.Just see the $0.6649 level & how quickly it escalated towards an all-time high and the $2 level previously.All will… pic.twitter.com/IFnSYc6HFG— Dark Defender (@DefendDark) February 18, 2024
Dark Defender pointed out that there have been heated debates surrounding Ripple’s XRP distribution, particularly concerning On-Demand Liquidity and programmatic sales, or sales through public exchanges.
The analyst asserted that the discussions had sparked significant FUD (fear, uncertainty, and doubt), albeit without any notable impact on XRP’s price. Dark Defender noted that while FUD about XRP grows within the crypto community, the asset is gearing up for a bullish run beyond the $1 threshold.
However, he outlined a crucial condition that would confirm the bullish rally. Specifically, the analyst suggested that XRP reclaiming the $0.6649 price level would lay the foundation for a quicker escalation toward the $2 level. Moreover, he envisions the asset breaking an all-time high following the expected bullish rally.
Great discussions on ODL or programmatic sales of #XRP are ongoing and created significant FUD where I had no impact.Meanwhile, XRP preparing for the surge.Just see the $0.6649 level & how quickly it escalated towards an all-time high and the $2 level previously.All will… pic.twitter.com/IFnSYc6HFG— Dark Defender (@DefendDark) February 18, 2024
According to CoinMarketCap data, XRP is trading at $0.5591 at press time, reflecting barely a 1% gain over the last 24 hours, while its seven-day cumulative trajectory stands at 7.81%. Considering its current price, the asset would require a 19% growth to reclaim the crucial $0.6649 price level that the analyst pointed out.
Notably, XRP last reached the $0.6649 price level in August 2023 and the $2 mark in 2018. Meanwhile, the analyst provided no timeline for when to expect the $0.6649 and $2 price points.
The post Analyst Says XRP Must Reclaim This Short-term Target Before Breaking an All-Time High appeared first on Coin Edition.