XRP Smashes Through Resistance, Could Soar 15%, Analyst Says

Ripple’s XRP is on a rampage, breaking through a key resistance level of late. The move has analysts eyeing the crypto asset for a potentially big gain, with many, like Bret Hill, suggesting as such.

Meanwhile, Pastor Brandon Biggs is doing rounds on social media with his “prophetic” prediction of an “overnight” surge in the price of XRP.

Against this backdrop, XRP is currently trading at the level of $0.603, which is a 4% in profit over the past 24 hours. Over a seven-day period, the digital asset managed to soar in price by almost 5%, but its monthly gain was more modest at 1.29%.

Several factors are driving this momentum from technical analysis to more speculative influences. Let’s jump into what’s going on with XRP and what could be next.

Analyst’s Bullish Comments

One of the big voices right now in the XRP room is crypto analyst Bret Hill. He just pointed out the importance of this break above consolidation, as seen by XRP’s recent movements.

🚀 **XRP/USDT Daily Chart Update:**

The XRP/USDT pair has just **blasted through its consolidation phase** with a **bullish breakout** that’s got the charts screaming “LFG!” The price has surged to **$0.6054**, and the momentum is clearly with the bulls.

**Next Big Target:**… pic.twitter.com/Qp6HLL6pEn

— Brett (@Brett_Crypto_X) August 20, 2024

This, according to Hill, paves the way for further upside toward the next resistance level target of $0.684—the very level that will not be a walk in the park for the bulls. This level of interest isn’t a usual random one, but rather, a critical point that, once breached, shall signal larger upside waves.

Traders should now eye the $0.684 level. If the altcoin can finally break over this critical level, it may be the spark for greater gains. The excitement is tangible in the market, and this excitement could prove to be the fuel propelling XRP to higher prices.

Prophetic Predictions Rouse Interest

While technical analyses present one view, there is another controversial perspective covered. One of the most famous Christian prophets, Pastor Brandon Biggs, hit the headlines lately on his latest prediction related to XRP.

Particularly, Biggs claims that XRP could experience an overnight surge that will see the cryptocurrency regain its past glory. His prophecy, although speculative, caught eyes in the crypto community.

He described a vision of a financial shift tied to the crypto, with a “rapid acceleration” in the token’s value. He believes it could be so fast that it catches investors by surprise.

By no means are these based on traditional market analysis, yet his predictions do add an intriguing layer to the ongoing conversation about XRP. And, for those few that believe Biggs truly does see the bigger picture, then XRP may mean something other than a financial asset—that XRP may be part of an even bigger, spiritually significant event.

Market Sentiment And Investor Behavior

In this respect, the technicals on XRP suggest that the cryptocurrency could be poised for higher prices. On the other hand, we see speculative and “spiritual” predictions by Biggs, which make the situation even more intriguing.

XRP Price Forecast

XRP looks to subject itself to a trending move in the coming seven days, as the market points to the possibility of a bullish performance, data from crypto price prediction platform CoinCheckup shows.

Currently, the value is transacting 20% down from its forecast for the coming month, which means that there can be a possible temporary dip before a climactic shift upwards.

Traders will most likely benefit from the projected gains derivable during what looks like a short-lived correction. Technical indicators are pointing towards XRP gaining momentum, which could buoy the price higher as market sentiment improves.

Looking at a three-month timescale ahead, it appears that XRP will witness an upsurge of 25%, while the view is steadily bullish over the next six months, showing approximately 170% growth.

Featured image from PremiumBeat, chart from TradingView