thecryptobasic.com
Crypto analyst Anu has presented price targets for major cryptocurrencies, including XRP, over the next two to three months.
He predicts that Bitcoin (BTC), the largest crypto asset, could rise to a new peak of $80,000 within this period. With BTC potentially reaching an all-time high, XRP could see a surge, and other major assets are likely to follow similar upward trajectories.
XRP Price Target
Anu expects XRP to breach multiple resistance levels, potentially hitting the $1 mark within the next three months. This price would represent an 81.7% increase from its current price of $0.55.
The last time XRP saw these levels was in December 2021, after a rapid decline from its April 2021 high of $1.96. Notably, if Bitcoin reaches the predicted $80,000, this bullish momentum could carry XRP along with it.
However, XRP must first overcome a few hurdles. After collapsing by more than 20% from Sept. 30 to Oct. 3 on the back of the SEC appeal notice in the Ripple lawsuit, XRP has largely consolidated throughout this month of October. However, the past two days have shown strength.
The Pivot indicator shows that XRP, currently trading around the $0.55 mark, is below the crucial Pivot level. To flip momentum to bullish, the price needs to breach the pivot point at $0.5930. After clearing that, key resistance levels lie at $0.6550, $0.6933, and ultimately $0.7553 before any attempts at $1.
Nonetheless, should the market turn bearish, XRP has its first support level at $0.5310, marking the last line of defense above the $0.50 psychological mark. Meanwhile, if this gives in, further support levels lie at $0.4927 and $0.4307.
The recent slight uptick in momentum suggest XRP is showing early signs of recovery. The Relative Strength Index (RSI), currently at 51.34, indicates that XRP still has room to grow, supporting a potential rally towards $1 if market conditions are favorable.
Other Cryptocurrencies to Watch
The market analyst also set optimistic targets for several other key assets, predicting Ethereum (ETH) to climb 13.6% to $3,000. Further, he forecasted Binance Coin (BNB) is forecasted to rise 15.9% to $700.
Also, he believes Solana (SOL) may see a stronger surge, seeing a 29.8% increase to $200. Dogecoin (DOGE) could rally to $1, an ambitious target of over 700% from its current price.
Meanwhile, Anu’s most ambitious targets were for the Terra ecosystem tokens. He expects Terra Classic (LUNC) to potentially surge by over 22,000%, Terra (LUNA) by 2,677%, and TerraClassicUSD (USTC) by 4,508%.