Cryptocurrency analyst Henry (@LordOfAlts) has sparked renewed interest in XRP, suggesting a potential buying opportunity before a price surge in the coming years. This positive outlook comes amidst a period of relative stagnation for XRP, which has left some investors apprehensive about missing out on gains.
Henry argues that XRP’s current price range presents an attractive entry point for long-term investors. He anticipates a significant rise in value coinciding with the broader cryptocurrency bull run expected in 2024/2025. Henry also identified support zones for XRP on his chart between $0.5 and $0.4, highlighting a potential floor for the asset’s price.
Read Also: Here’s Why Ben Armstrong (Bitboy) Sets $7 XRP and $1,000 Solana (SOL) For 2024
This analysis follows a brief dip for XRP two weeks ago, mirroring a 20% price decline across the cryptocurrency market triggered by Bitcoin’s fluctuations. While XRP exhibited a swift recovery back to the $0.5 range, it did experience temporary price retractions to the $0.4 level.
However, XRP has demonstrated resilience, firmly re-establishing itself above $0.5 within a week of the price drop. It recently reached above $0.56, showcasing a promising comeback. This positive momentum has led Henry to assert that XRP is nearing the end of its undervalued phase and poised for significant growth in the lead-up to the anticipated post-halving bull run. His chart shows a massive impending surge with a target price of $2.
It’s worth noting that Henry’s projection falls on the more conservative end of the spectrum compared to some analysts’ outlooks for XRP this year. One prominent analyst recently predicted that XRP can reach $13 to $17 based on historical performance.
Reaching $2 would necessitate continued holding for existing XRP investors. This target falls short of the $3.84 peak achieved in 2018, potentially delaying the realization of significant profits for long-term holders. However, XRP has not regained this level since it fell from its all-time high, and many investors will be excited to see XRP perform this spectacularly.
#XRP last buying opportunity before the Bullrun 2024-25
Are you ready for life changing gains? #XRP Holders this is our moment! Let's F***ing Go!!! #XRP is ready, my target is $2 pic.twitter.com/KJAhxBUYZd
— Henry (@LordOfAlts) April 21, 2024
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for March 1, 2024
Will XRP Join the Current Bull Run?
Some community members have voiced concerns about XRP’s participation in the current bull run. XRP’s price movement has remained relatively muted in the early stages of this bullish period, and many believe an extension of the XRP lawsuit in the form of an appeal might suppress its price for the next few years. However, Henry and other analysts are confident in XRP’s future, and the digital asset might outperform expectations in the current bull cycle.
