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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

XRP Price About To See “Face Ripping” Rally, Legendary Trader Weights In

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Crypto XRP Price XRPUSDT Ripple Bitcoin BTC BTCUSDT

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The XRP price continues to enjoy positive performance as the crypto market trends to the upside. The current rally confluences with the sector’s historical performance; thus, cryptocurrencies could extend their bullish trend.

Related Reading

XRP price

XRP Price Breakout Soon? Analyst Points To Bullish Structural Signs

1 year ago

As of this writing, the XRP price trades at $0.58 with a 5% profit in the last 24 hours. In the previous seven days, the cryptocurrency recorded an 11% rally and stood as one of the best performers in the sector over the same period, along with Solana (SOL) and Cardano (ADA).

XRP Price XRPUSDT
XRP’s price trends to the upside on the daily chart. Source: XRPUSDT on Tradingview

XRP Price Bull Run Incoming?

As XRP and other trend upwards, legendary trader Peter Brandt share his positive views on the nascent sector. Brandt has been known for expressing his views on BTC and crypto without reservations, and this time, the forecast is bullish.

On social media platform X, the legendary trader dismissed market actors trying to predict future performance. However, Brandt dared to make three predictions regarding Bitcoin: first, the cryptocurrency is likely to hit bottom, which will lead it to new all-time highs, as seen in the chart below.

This bullish price action is based on the cryptocurrency’s historical performance. Each time the BTC market drops around 78%, Bitcoin bottoms and re-enters price discovery. The XRP price, Ethereum, and other altcoins follow the trend.

In 2017, when BTC went into a bull run, the XRP price reached an all-time high above $3. If history repeats, and based on the fundamentals supporting XRP’s bullish momentum, the token could hit a similar level.

XRP price XRPUSDT Ripple Bitcoin BTC BTCUSDT
Bitcoin is preparing for a massive bull run, setting the stage for XRP and the altcoin sector. Source: Peter Brandt on X

XRP In The Short Term, Levels To Watch

The optimistic forecast in the traditional financial market supports this scenario. If stocks and Bitcoin see further profits, everything will align for XRP and other altcoins to hit their previous all-time highs.

In short timeframes, a pseudonym analyst indicated that XRP formed a bull flag pattern. This bullish market structure hints at a potential run of the high area around $0.66. However, bulls must maintain the token above $0.52 and $0.54 to prevent a run of the lows.

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The analyst stated the following about XRP and how close it is to completing a significant milestone for further profits:

The first break has just arrived. XRP close to the Mid resistance at $0.5557. Still, the following applies: Bull flag $0.5557 above, to be precise. Invalidation $0.54 below.

Cover image from Unsplash, chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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