A pseudonymous crypto analyst, XRP Captain (@UniverseTwenty) on X, recently drew attention to a crucial price level on XRP’s weekly chart.
According to the analyst, a decisive weekly close above $0.75 could set the stage for a significant upward movement, potentially driving XRP toward its previous all-time high of $3.20.
XRP has experienced a tumultuous journey since its inception, with several peaks and troughs marking its price history. The asset’s last major surge occurred during the 2017 crypto bull run, where it reached its all-time high.
However, subsequent market corrections and legal challenges—most notably the lawsuit filed by the U.S. Securities and Exchange Commission (SEC)—have suppressed its price over the past few years.
Now that Ripple has somewhat come out victorious in the lawsuit, experts believe XRP could reclaim its all-time high. The digital asset is trading at $0.6029. The last attempt to cross the $0.75 level in March failed after XRP met significant resistance.
The chart shows that XRP has found support near $0.48, which has remained since mid-2023 after XRP’s surge following the pivotal ruling of July 13, 2023. Although XRP dipped below this level in early August, it quickly recovered and has stayed above ever since.
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The Path to a New All-time High
The chart in question, which presents a weekly view of XRP/USD, shows the asset’s attempts to breach the $0.75 resistance. Each attempt was met with selling pressure, preventing a sustained breakout. However, the recent bullish momentum in the broader cryptocurrency market has reignited investor interest in XRP.
From a technical perspective, the $0.75 level is a psychological barrier. A successful weekly close above this level would likely confirm a breakout from the current consolidation phase, signaling to traders and investors that the market sentiment has shifted bullish. This breakout could trigger significant buying interest, propelling XRP toward the next major resistance levels.
Should XRP close above $0.75, the path toward higher price targets becomes more plausible. The next significant milestone, as pointed out by the XRP Captain, is the previous all-time high.
Achieving this level would represent a substantial gain, and while it may seem ambitious, it is not without precedent. Experts are confident that XRP will create a new all-time high in this bull cycle, and this prediction bolsters that belief.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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