The post XRP Price Hovering at $0.62, Will it Hit $1 in April? appeared first on Coinpedia Fintech News
XRP’s journey to reclaim the $1 mark underwent a series of speculations and legal hurdles, particularly amidst the recent turbulence in the crypto market. Currently trading around $0.59, XRP must undergo a significant rally of approximately 70% to reach the coveted $1 milestone.
Let’s see if XRP predictions will come true in 2024.
$XRP chart update. 3 day MACD turning bullish at the right time.
pic.twitter.com/VgJAjO0Bru
— CAPT. PARA8OLIC TOBLERONE (@CaptToblerone) February 16, 2024
April Boost: Predictions Come True?
The community’s sentiment regarding XRP’s price trajectory is divided. Optimistic commentators made ambitious forecasts last month, with some predicting targets as high as $5 or $10. However, the reality of XRP’s price movement over the past nine months has been less encouraging, with the token fluctuating between $0.5 and $0.7, making only fleeting attempts to breach the $1 mark.
The current market data for XRP presents an interesting angle regarding its potential surge to $1 in April. However, uncertainties arise due to the U.S. SEC’s recent push for a final judgment against Ripple, seeking penalties worth $2 billion. Despite a temporary surge to $0.74 following positive developments in the case, XRP quickly retraced its gains, failing to sustain momentum towards $1.
Also Check Out : Bitcoin Price Prediction: Potential -40% Drop Before Anticipated April Halving
Analyst Shares Price Insight
While XRP may continue its success in April, reaching the $1 mark could pose a challenge. Nonetheless, let’s remain optimistic and keep an eye on its progress. However, analysts have mixed views on XRP’s potential for a bullish breakout.
While some, like Tylie Eric, predict a rapid surge to $1 within days, others, such as researchers at Changelly, are more conservative in their projections, setting a target of $0.75 for April. Meanwhile, analysts like EGRAG predict long-term price targets of $27.
From a technical standpoint, technical indicators and the trajectory from the previous trend could reinforce the negative foundation for the bulls, which currently seems to favor a selling strategy. XRP is expected to return to the broken resistance level in the short term. Theoretically, this resistance level will play a corresponding role in the downtrend; the target for this slide is bottomed out in the 0.4845 area.
What is your stance? Do you think it’s time to sell?
