Story Highlights
XRP could surge 5x in value after Ripple launches its RLUSD stablecoin soon.
For a big rally, XRP must close above $0.55 on the weekly chart.
Altcoin season could help XRP achieve significant gains if Bitcoin dominance starts to drop.
Ripple’s XRP is currently trading at just $0.53, leaving many traders wondering: could it skyrocket by 2x to 5x after the
launch of its RLUSD stablecoin
? This speculation comes as
XRP has struggled
to move beyond the $0.50 mark, causing frustration among holders. They are eagerly hoping the altcoin can break this standstill and rise back to prices above $1.
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XRP Needs to Break $0.55 for 5x Surge
Prominent crypto trader “The GOAT TRADER,” recently shared his thoughts on when XRP might see a big price jump. He pointed out that Bitcoin’s dominance in the market is getting close to its peak. The trader believes that when Bitcoin’s dominance starts to decline, altcoins like XRP could experience price increases between 2x and 5x.
Very crucial for
#XRP
to close this weekly candle above 55 cents or else we’ll test the support at 40 cents.
The
#Bitcoin
dominance is almost near the top and once it starts dumping we’ll see all
#Altcoins
pull a 2-5x easy. Just accumulate coming year is very bullish!
#Crypto
pic.twitter.com/Dk0ARRnjE9
— THE GOAT TRADERS (@TheGoatTraders)
October 6, 2024
He encourages investors to buy XRP now because the coming year could be very positive for the entire cryptocurrency market. Bitcoin’s dominance has been rising for the past few months, but analysts expect it to drop soon. This could lead to an altcoin season, giving coins like XRP a chance to thrive.
The trader also mentioned an important detail, that
XRP needs to close its weekly
candle above $0.55. If it drops below this level, it may test support at around $0.40.
Bitcoin’s Key Role in XRP’s Future
In a similar analysis, another technical analyst Charting Guy echoed these sentiments. He stated that XRP and other lagging altcoins will not see substantial price movements until Bitcoin enters a new phase of price discovery. He predicts XRP will fluctuate between $0.43 and $0.67 until Bitcoin breaks through its resistance.
for people asking me when will
$XRP
moon or is it over, etc etc.
i will repeat for the millionth time
$XRP
and other lagging altcoins will do NOTHING significant until
$BTC
breaks into price discovery
it’ll range between 0.43 – 0.67 until then
monthly bollinger bands continue…
pic.twitter.com/GwSrwJEDI0
— Charting Guy (@ChartingGuy)
October 6, 2024
Furthermore, Charting Guy highlights two critical price points for XRP. A monthly close above the upper Bollinger Band, currently sitting at $0.67, could signal a bullish breakout, suggesting that XRP could finally “moon” and experience a significant price increase. Conversely, if XRP closes below the lower band at $0.43, it
could indicate a bearish trend
, leading to further declines in price.
Also Read :
Top Altcoins to Rally? BNB and OKB Target Bullish Breakouts
,
With Bitcoin dominance near its peak, there is speculation that once Bitcoin starts to drop, it may create room for altcoins, including XRP, to rally. However, for now, the market sentiment remains cautious.
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