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Famous crypto trader Goomba expresses confidence in the possibility of XRP surging above $1 within the next few months.
In a recent X post, Goomba asserted that it is not impossible to see XRP at $1. According to Goomba, XRP’s potential rally to the $1 territory could happen within the next few months. It bears mentioning that the last time XRP traded above the $1 price level was in December 2021.
The commentary suggested that while it is not certain that XRP might surpass the $1 target in the next few months, it is within the realm of possibility.
The accompanying chart shows that XRP was trading at $0.6065 when Goomba issued the prediction. Notably, XRP has plummeted below the $0.60 price mark ever since. At press time, XRP was priced at $0.57, reflecting a decline of 1.32% over the past 24 hours.
Consequently, this suggests that XRP must rally 75.43% from its current price to hit the $1 threshold.
Several experts recently projected that XRP was on track to hit the $1 psychological landmark.
Specifically, The Crypto Basic recently identified a golden cross in the XRP chart, suggesting that the token could surge above the $0.65 level to $1.
XRP Dips Below $0.60 Amid Israel-Hamas Conflict
Recall that XRP’s performance last month attracted the attention of the broader crypto market. The token, which started July 2024 at around $0.40 per token, witnessed a dramatic surge that pushed it above the $0.6 price territory.
This dramatic surge began on the first anniversary of Judge Analisa Torres’ summary judgment decision, which declared that XRP is not a security in itself.
Interestingly, rumors about a potential settlement in the SEC v. Ripple lawsuit also fueled XRP’s price to the $0.65 level. Like other major crypto assets, XRP has plummeted heavily in the past few days due to global conflict, especially the Israel-Hamas war.
Following Israel’s assassination of a Hamas military leader in the capital of Iran, there were speculations that Iran might launch a retaliatory attack against Israel. This speculation has led to increased volatility across various financial markets, including cryptos.
Additionally, the seventh-biggest cryptocurrency dipped below $0.55 earlier today after Ripple unlocked 500 million XRP from escrow. However, XRP witnessed a remarkable rebound that helped it recover to $0.57.