This article is also available in Spanish.
XRP is making waves in the crypto market, trading at $0.82 after setting new yearly highs following an impressive 65% surge in just a few days. This rally has attracted the attention of investors and analysts, with lead analyst Carl Runefelt sharing his views on XRP’s bullish breakout.
According to Runefelt, XRP has finally broken through a multi-year resistance level, signaling the potential for a massive rally towards higher prices in the coming weeks.
Related reading
Adding to the optimism, recent positive developments in the broader crypto space have further boosted market sentiment. Reports suggest that SEC Chairman Gary Gensler may resign, a move that could reduce regulatory pressure on the crypto sector. President-elect Donald Trump’s pro-crypto stance and policies are also sparking renewed interest and trust among crypto enthusiasts.
These factors have created an environment in which XRP appears poised for significant gains. While investors are watching closely, the question remains whether XRP can maintain this momentum and continue moving higher. With key resistance levels cleared and favorable news boosting sentiment, XRP is currently positioning itself as one of the most promising assets in the crypto space.
XRP begins a bullish phase
XRP has entered a promising new bullish phase after years of lackluster performance and prolonged legal battles with the SEC in the United States. This resurgence is sparking optimism among investors and analysts, with leading crypto analyst Carl Runefelt sharing compelling technical analysis on X.
Runefelt highlighted XRP’s breakout from a multi-year resistance level, which signals a significant change in its price trajectory. In his analysis, Runefelt cautiously predicted that XRP could reach $2 during this bull cycle, a modest target compared to analysts who predict price levels exceeding $20.
The breakout marks a turning point for XRP, which has faced years of sideways price action and persistent selling pressure. Legal setbacks, regulatory uncertainty and market skepticism have kept the asset underperforming its peers. However, with favorable developments in the broader crypto market and the continued adoption of blockchain solutions, XRP is regaining its footing.
Related reading
Many believe the coming months could be transformative for XRP, with the potential to finally surpass its previous all-time high of $3.84 set in January 2018. As bullish momentum builds and investor confidence strengthens , XRP is positioned to be one of the top performers. in this market cycle.
Bullish Price Action: Key Supply Levels to Watch
XRP is trading at $0.82 after a massive breakout that cleared several resistance levels, signaling renewed bullish momentum. The surge has reignited investor optimism as XRP demonstrates strength after prolonged underperformance.
The next critical supply level for XRP to test lies at $0.92, a price level it has not revisited since 2021. A successful breakout above $0.92, followed by consolidation and strengthening of support at this level could open the door to a significant upward movement.
If XRP maintains its bullish momentum and establishes $0.92 as a support zone, demand could surge, propelling the price towards the $1.4 level. This would mark an important milestone, aligning with broader market optimism and boosting investor confidence in XRP’s long-term potential.
Related reading
However, the possibility of a failed breakout above $0.92 cannot be ignored. If the price struggles to maintain this level, XRP could enter a consolidation phase, remaining range-bound until new catalysts emerge. Such a scenario would likely delay the next major move but could provide accumulation opportunities.
As the price continues to climb, traders and investors are closely monitoring these key levels, recognizing that the outcome could define the next chapter of XRP price action in this bull cycle.
Featured image of Dall-E, chart by TradingView
