Ripple (XRP) has faced challenges, including legal battles and market volatility, limiting its 17% yearly growth. If historical trends prevail, a major breakout could be imminent.
XRP's past performance in March 2021 and July 2021 saw the token surge over 100% within two months. Current market setups indicate a potential repeat, with the Relative Strength Index (RSI) suggesting bullish trends.
XRP has been outperforming Bitcoin recently. Analyst Crypto Michael forecasts a bullish breakout, noting XRP could breach a long-term bullish pennant.
XRP remains above its 20-day and 50-day Exponential Moving Averages (EMAs), indicating a bullish trend. If this continues, XRP might hit $0.65 in the short term, though Ripple’s ongoing lawsuit with the SEC presents a risk factor.
Ultimately, favorable outcomes could lead XRP to surpass $1, but negative legal developments might drop its value to $0.48.
