XRP News Today: XRP Bullish Trend Predicted to Reach $4.5

XRP, the cryptocurrency, is showing signs of a bullish trend, with analysts predicting that it could reach new all-time highs above $4. This optimism is based on recent technical analysis, which indicates that XRP is poised for a significant breakout. The cryptocurrency has been in a downtrend for several months, but recent price movements suggest that it is entering a new phase of growth.

Master Ananda, a prominent analyst on TradingView, has identified key price movements that support this bullish outlook. The analyst notes that XRP formed a higher low on June 5, after a 24-day retracement phase that began on April 7. This price action, combined with a confirmation candle on June 8, suggests that XRP is resuming its upward trajectory. The analyst's chart shows a clear breakout from a descending trendline, followed by a shift into an ascending channel, which is a bullish price structure.

According to Master Ananda, XRP could reach a near-term target of $4.5 after surpassing upper resistance levels at $2.71 and $3.019. The analyst also suggests that XRP has the potential to exceed this initial target and reach $6.29. This prediction is based on Fibonacci levels drawn on the chart, which indicate potential resistance and support levels.

Master Ananda also provides a trading strategy for investors looking to capitalize on this bullish trend. The analyst recommends holding a full position until XRP hits the $4.5 target and take-profit zone, rather than taking incremental profits around the $2.71 and $3.02 price highs. This approach is designed to capture the maximum upside potential of this bullish cycle. Once XRP reaches the $4.5 level, the analyst suggests taking profit partially, not to exit entirely but to prepare capital for a potential redeployment during the next market retracement.

In addition to the short-term price action, Master Ananda positions XRP as a lead indicator in what could be an extended altcoin bull market. A breakout above $4.5 will likely trigger explosive growth in lower-cap cryptocurrencies. While XRP is expected to generate up to 50% gains, these assets have the potential to yield returns of 150% in a single day, according to the analyst's forecast.