XRP Analyst Sets $2 Target If Key Level Holds

XRP has emerged as a prominent leader in the recent cryptocurrency rally, delivering significant growth and boosting investor optimism. The price has skyrocketed an astonishing 225% in less than three weeks, showing no signs of slowing down. This surge has positioned it as one of the top-performing altcoins, attracting attention from analysts and traders. CrediBull, a well-known analyst on X, shared a detailed technical analysis highlighting the strong price structure of XRP. According to his understanding, XRP is currently in a clearly defined 5-wave impulse movement, a pattern often associated with sustainable uptrends. If it continues to hold the important support level, CrediBull predicts that the price may soar above $2 in the coming weeks, marking a significant milestone for the altcoin. As excitement increases, market participants are closely monitoring its performance. The current price increase shows that XRP could reach new highs and pave the way for broader altcoin gains. Whether it can sustain its upward trajectory will depend on its ability to maintain key support levels and capitalize on the current bullish sentiment. Currently, XRP remains in the spotlight, with eagerly anticipated next moves. The price increase phase may continue. The recent price increase of XRP may just be the beginning as optimism continues to rise among analysts who predict higher prices in the coming months. However, the key price levels need to be tested and maintained for XRP to sustain its upward momentum and move towards the next rally. Famous analyst CrediBull has shared his profound insights into X, revealing that XRP is currently in a clear 5-wave impulsive move, a strong indication of an upward trend. According to his technical analysis, this pattern confirms that the absolute bottom of XRP was established at $0.49 earlier this year. He also emphasizes the importance of the $1.05 level, the origin of the fifth sub-wave in this impulsive structure.

CrediBull explains that if XRP drops below $1.05, it could signal the start of a larger Wave 2 correction, likely to occur before the next significant price increase impulse (Wave 3). However, if XRP holds above $1.05, it would indicate that the fifth minor wave is expanding, possibly pushing the price to $2 or higher before any significant pullback occurs. This analysis reinforces the view that the current XRP price increase may just be the beginning of a broader upward trend. Investors are closely monitoring whether XRP can maintain key support levels and confirm its sustained upward momentum. XRP reached its highest level in many years: What is the next ATH? XRP is trading at $1.45, after an impressive price increase that saw it touch $1.63 yesterday, marking the highest level since May 2021. This milestone has sparked optimism among investors, positioning XRP for a potential new record high in the coming months. The sustained price momentum reflects increasing confidence in the upward trajectory of the price.

However, the recent price increase also brings the possibility of consolidation. The price may need to cool off and gather strength below the $1.63 level before continuing the uptrend. Consolidation phases are a natural part of any significant price increase and can help establish stronger support levels for future price action. The important level to watch is still $1.05, which is identified as a key support zone. If the price holds above this level, it will reinforce the potential for price increases and set the stage for a breakout and continued upward trend in the coming weeks. Analysts believe that maintaining this level will be a strong signal of market confidence, paving the way for XRP to build on recent gains and aim for new milestones.