There’s some exciting news for the XRP community as XRP seems to join the ongoing bull run in the market, after its previous slowdown. Currently, XRP has witnessed a 2.22% price increase, which has enabled it to re-enter the $0.60 region. At the time of writing, XRP reached an intra-day high of $0.6081 and has been persistently defending the $0.60 level.
Driven by Bitcoin’s recent recovery to $66K, other prominent crypto assets have claimed back their two-month highs in the last few days. XRP, however, is just starting to capitalize on the ongoing bullish optimism in the market.
“XRP Going To $0.72”
In a recent post on X, a notable smart money financial navigator declared that XRP is going to $0.72 amidst its latest comeback. Market watchers have mirrored a similar sentiment, projecting the $0.70 level as the next major target.
Notably, XRP needs to grow by 20% from its current price in order to achieve the $0.72 level proposed by these analysts.
XRP’s Yearly High
The last time when XRP attained this level was six months ago when it achieved a yearly high of $0.74 on March 11. XRP underwent a dramatic pump of over 20% on that day, making it momentarily the best-performing asset. This had left the crypto community in surprise, given its largely dull price actions.
The bullish sentiment in the crypto market during that time was even stronger than now, as many of the assets had outperformed their 2021 peak and set new all-time highs, including Bitcoin.
But in XRP’s case, it was one of the underperforming crypto assets in the first quarter of 2024. A report during that time revealed that XRP lagged behind 61 crypto assets with billion-dollar valuations. Surprisingly, recent records indicate that the situation has aggravated, with XRP now trailing behind 70 tokens with billion-dollar market caps.
Analysts Confident In XRP
Nevertheless, analysts have restated that it is one of the best coins with high upside potential in this market.
Its thriving attempt to get back to the $0.60 level is flashing optimism for an uptrend for XRP which could drive its value toward the $1 range in the short term, which could go beyond the $5 in the longer term.
