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Another analyst commented that XRP has finally closed “slightly bullish.”

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Summarize with AI

Summarize with AI

Ripple’s cross-border token has emerged as the top gainer from the larger-cap alts today, surging by 4% to a multi-week peak of over $1.40.

Analysts have rushed to offer more promising perspectives for the asset, and one even believes the rally toward a new all-time high has begun.

New ATH in the Making?

A lot has changed in the cryptocurrency landscape since last July, when XRP surged to its fresh all-time high of $3.65. It had gained over 500% since its starting level before the US presidential elections in October 2024. However, the subsequent rejection and downward trend have been quite brutal, driving the token south by over 60%.

XRP spent the past few weeks trading sideways between $1.30 and $1.35. However, the overall market uptick has driven it north in the past day to over $1.40 for the first time since late March. XRP has solidified its position as the fourth-largest cryptocurrency, surpassing BNB.

Analyst CW weighed in on the cross-border token’s performance, saying that its upward momentum continues, and as long as it does, the “rise will not be broken.”

In another, even more bullish post, CW added that XRP’s RSI has formed a golden cross. The analyst believes the rally that begins after this bullish signal will “break through the ATH and reach the peak of phase 4.” Their graph and most optimistic prediction reveal that the target is aligned with the Fibonacci 6.618 at over $16.

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CRYPTOWZRD also spoke about XRP’s recent move, saying that the asset has closed “slightly bullish.” The analyst noted that a move above $1.43 would open more upside potential, but the token remains inches below that level now.

Ripple’s Moves

Aside from the aforementioned price-related developments, the company behind the popular altcoin has made several big moves in the past few weeks. Just yesterday, Ripple revealed partnering with Kyobo Life Insurance, one of the leading South Korean companies in its field. The main goal is to evaluate the technical and regulatory feasibility of introducing tokenized Treasury settlement into the country’s financial system.

Brad Garlinghouse, on the other hand, celebrated 11 years at the company and praised the recent partnership between the US SEC and CFTC to improve the local regulatory landscape.

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Source: https://cryptopotato.com/xrp-hits-3-week-high-as-analyst-predicts-new-ath-rally-has-begun/

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