The XRP price has experienced a notable surge in recent days amidst the wider backdrop of the crypto industry. Despite Bitcoin's recent struggle to break $60,000, XRP has registered a 2.23% gain in the past 24 hours, sparking discussions about a potential significant breakthrough.
An analyst, EGRAG CRYPTO, has highlighted $0.75 as a crucial target for XRP based on his analysis of the XRP/USD weekly candlestick chart. This comes as an update to his January 2024 analysis and focuses on structural formations, sentiment status, MACRO range, and psychological zones.
The key resistance level for XRP is $0.75, which could determine its journey to $1. Although XRP has not broken above $0.75 this year, closing above this level on a weekly timeframe could lead to a substantial price rally.
Currently trading at $0.5851, XRP is on an 8.4% gain over seven days. The momentum towards $1 is still in play, but other resistance levels such as $0.62 must be conquered first. A break above these levels would signal buyer strength and likely initiate the campaign towards $1.
Fundamentally, the XRP price campaign to $1 is backed by recent events in the XRP ecosystem, including Grayscale's unveiling of the first XRP trust in the US and the relisting of XRP on the European version of Robinhood.
