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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.