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XRP Last Buying Opportunity before the Bullrun 2024-25 Says Top Crypto Analyst

Published by
Mustafa Mulla

Cryptocurrency markets are bouncing back, with Bitcoin topping $65,000 and the overall crypto market reaching $2.5 trillion. Ripple’s XRP token has also seen a small 4.9% uptick. Meanwhile, respected crypto analyst Captain Faibik has highlighted a possible buying chance for XRP. Faibik believes that this could be the last opportunity to buy before XRP gears up for the expected bull run in 2024-25!

Last Buying Chance For XRP

In a recent tweet post, Captain Faibik suggests that XRP is presenting a last buying opportunity before what could be a bullish run in 2024-25. 

According to the Captain Faibik chart analysis, XRP has been trading within a narrowing range, indicating a period of consolidation. This consolidation phase, commonly observed in markets, often comes before significant price swings.

However, a breakout from the consolidation pattern suggests a potential surge in XRP price, projected to reach around $2.20, as indicated by a green rectangle on the chart. With XRP currently trading at $0.54, analysts believe this presents a last opportunity to buy XRP at this price before the anticipated bullish trend takes place.

Also Check Out : XRP Price Milestone: Ripple CTO Touts 1500% Growth Over Seven Years

XRP Technical Analysis

Despite a slight recovery from the March 11 drop to $0.7440, XRP has struggled to surpass the $0.55 resistance level throughout the week, resulting in a 20% decline over the past seven days.

Since these challenges, certain technical indicators suggest a bullish outlook. The Accumulation/distribution (A/D) line, for instance, is trending upward, indicating buying interest even at current low XRP prices. This suggests that traders may be inclined to “buy the dip,” which could potentially ignite a recovery in the XRP price.

XRP To Face Resistance

Meanwhile, if the XRP price successfully closes above the $0.57 level, it could challenge the bearish narrative. However, the XRP may aim for the April 11 local top of $0.6431 in such a scenario. However, before reaching that milestone, XRP must face resistance at $0.5910, which represents the 50% Fibonacci retracement level of the drop from the April 11 peak to the April 13 low of $0.4188. 

Read Also : XRP Poised For Massive Surge, Hints 3 Key Indicators Signal Potential Rally

Additionally, the psychologically significant $0.60 level, which served as support for XRP throughout March, poses another hurdle for the altcoin’s upward trajectory.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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