Analysts Call for Another Big Move After 16% Surge

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Ripple’s XRP broke the weekend silence with a massive double-digit surge to over $1.65.

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Summarize with AI

Summarize with AI

Unlike the weekend at the start of the month, in which the cryptocurrency market was hit hard, and multiple assets suffered massive losses, the past 24 hours have benefited almost all digital assets.

Ripple’s cross-border token has emerged as one of the top gainers, having surged by 16% daily to its highest price levels since February 1 at over $1.65.

CryptoWZRD weighed in on XRP’s performance during the weekend, indicating that both charts, against the USD and BTC, closed bullish. The analyst added that “further upside from XRPBTC is very likely.”

Cobb, one of the most vocal XRP bulls on X who made some bold price predictions yesterday with double-digit targets, noted that the cross-border asset might have started to decouple from other larger-cap cryptocurrencies.

This claim has merit at least in the past day. Aside from DOGE, which has soared by over 20% since Saturday, XRP is the only other double-digit gainer from the top 20 alts.

ERGAG CRYPTO indicated that the current two-week candle, which is set to close later today, is “shaping into either a Hammer or a Dragonfly Doji.” The analyst explained that both options are classic reversal candles that appear after a severe downtrend.

XRP has indeed been in a downtrend for the past month and a half. The asset peaked at $2.40 on January 6 but was quickly halted there and pushed south to just over $1.10 on February 6. Nevertheless, it responded well to this calamity and now trades at $1.65, representing a near 50% surge from the local lows.

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Consequently, ERGAG CRYPTO advised their followers to ignore the noise and focus on XRP’s structure, which “remains a bullish setup, until the market proves otherwise.”

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Source: https://cryptopotato.com/xrp-on-fire-analysts-call-for-another-big-move-after-16-surge/