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Ben Armstrong (BitBoy) highlights a key price level for $XRP that could trigger the next major bull run for the digital asset.
$XRP is hovering around $2.23. However, market participants who joined at the height of its frenzy earlier this month are still shouldering a loss of 21% from the seven-year high of $2.87.
Nevertheless, recent forecasts from prominent voices in the crypto community suggest that the token may be on the verge of a significant breakout.
Conditions to Hold Before $XRP Rallies to $4.5
In a tweet, Ben Armstrong, a well-known crypto influencer, highlighted the importance of $XRP closing daily and weekly candles above $2.75. According to Armstrong, reaching this threshold could set the stage for $XRP to surge to $4.50.
Notably, yesterday, $XRP briefly touched $2.72 following the announcement of the much-awaited Ripple stablecoin, RLUSD. While some expected this development to serve as a launchpad for $XRP, the asset quickly lost momentum. Notably, this was mainly due to Bitcoin’s pullback.
Nonetheless, BitBoy believes that recapturing the $2.75 level holds the key to $XRP’s further ascent. He has previously issued bold timelines for when $XRP could ultimately reach $4.50, suggesting the likelihood of it happening by the end of the year.
$XRP to Establish a Base Above $ATH
Adding to the bullish sentiment, crypto analyst “360 Trader” offered an even more ambitious outlook for $XRP. The analyst believes $XRP is not only on track to reclaim its all-time high ($ATH) but is also set to establish a price base above it.
He argued that this new support level would serve as a launchpad for $XRP’s “true” bull market move, potentially driving the token into uncharted territory.
Notably, at a price of $2.23, $XRP trades 41.14% below its all-time high of $3.84. However, reclaiming this historic value would require a 49% price surge from $XRP.
Mixed Expectations Around $XRP
Overall, optimistic projections about $XRP continue to garner attention as 2025 approaches, with promises of pro-$XRP developments like the potential end of Ripple’s lawsuit and the launch of an $XRP ETF.
Amid the wait, analysts continue to speculate on $XRP’s direction, as the asset has remained in a subdued price trend over the last two weeks. At the same time, skeptics warn of a potential breakdown to as low as $0.50, citing a possible repeat of historical patterns.