XRP News Today: XRP Poised for 95% Gain to $4.51 by Early August

XRP, the cryptocurrency, is poised for a significant upward movement, according to recent analysis by cryptocurrency expert Master Ananda. Ananda's June 8 analysis on TradingView identified a higher low pattern formed on June 5, suggesting that the consolidation phase may be ending. This pattern, combined with earlier price movements, indicates a classic accumulation phase that typically precedes a breakout.

Ananda's projection points to a direct climb toward $4.51, with the price expected to bypass resistance levels at $2.71 and $3.02. If the bullish trajectory holds, Ananda anticipates XRP could reach this target by early August. However, he also acknowledged that $4.5 could serve as a significant resistance point once tested.

XRP has shown signs of recovery from a sharp decline it experienced earlier this month, when prices briefly approached the $2.00 mark. Since then, the asset has bounced back considerably. At its strongest point during the recovery, XRP added approximately $6 billion to its market capitalization in a single day. The token has overcome the $2.30 resistance level and is currently trading at $2.31. Reclaiming this price zone could be key to testing further resistance at $2.50.

Recent market data supports the view of renewed investor confidence. XRP’s 24-hour trading volume surged by nearly 50%, reaching $2.7 billion. This significant increase in trading activity may reflect growing retail and institutional interest. Institutional attention may also intensify following the proposal to include XRP in the flagship Nasdaq Crypto Index (NCI). Should the proposal be approved, the asset would be added to the portfolio of the Hashdex Nasdaq Crypto Index US ETF (NCIQ). Such a move could introduce more institutional capital into the asset and further validate its position in the broader crypto market.

The 14-day Relative Strength Index (RSI) currently stands at 53.3, indicating neutral momentum with a slight upward bias. While this does not confirm a breakout, it supports the case for continued strength if buying pressure intensifies. Master Ananda’s analysis offers a bullish short-term outlook for XRP, forecasting a potential rise to $4.5 by early August. While this scenario depends on continued technical strength and favourable market conditions, institutional developments and growing trading volume could provide the necessary support for this move. Investors and analysts will be closely monitoring key resistance levels in the coming weeks as XRP approaches critical price zones.

Several analysts have recently shared their bullish predictions for XRP, with a particular focus on the cryptocurrency reaching $4.5 by early August. CW, another well-known crypto analyst, has also predicted that XRP will reach $4.5 by the beginning of August. CW's analysis is based on the chart breakout pattern, which suggests a significant rally for XRP. This prediction is supported by the growing institutional interest and technical breakout patterns. Ryan Lee, Chief Analyst at Bitget Research, has predicted that XRP could rise to $8 by 2025, further emphasizing the bullish sentiment surrounding the cryptocurrency.

Mr. Xoom, a prominent XRP analyst, has presented his bullish sell targets, which, while conservative, reflect the market's anticipation for greater returns. Mr. Xoom plans to sell 15% of his XRP holdings once the asset reaches the $4.5 to $5 region, marking a significant increase from its current price. He also revealed that he sold 15% of his holdings when XRP hit $2.8, which occurred multiple times during the current bull run. Mr. Xoom's strategy involves taking profit at lower targets to avoid the risk of a sudden retracement, a move that aligns with his belief that XRP could reach greater heights in the future.

The recent analysis from Mr. Xoom suggests that XRP could move in two ways from its current level. One scenario involves a drop to the $1.9 to $2 zone to grab further liquidity before proceeding with a recovery push. The other scenario involves consolidation at the level above $2 before embarking on an upward push. Mr. Xoom leans toward the second scenario, which appears to be playing out as XRP is currently trading at $2.44, up 4.3% in the past week.

The bullish predictions for XRP are not limited to short-term targets. EGRAG CRYPTO, for instance, has forecasted that XRP could reach $27-$33 by May 2025, based on its growing adoption and technical indicators. Another analyst has predicted a $5.85 target for XRP after an upside breakout, further highlighting the potential for significant growth. The recent rally in XRP has sparked hope among investors, with the cryptocurrency holding strong near $2.30. This short-term bullish potential is supported by the growing institutional interest and technical breakout patterns, which suggest that XRP could continue its upward trajectory in the coming months. However, it is important to note that these predictions are based on current market conditions and may be subject to change. Investors are encouraged to conduct thorough research before making any investment decisions.