The recent XRP price action has triggered a bullish sentiment among crypto investors. The 10% surge over the last week pushed its price above levels unseen for a month, driving long-term optimism.
XRP’s price faced a massive drop following the SEC lawsuit against Ripple nearly four years ago, driving investor uncertainty. However, Ripple's legal victory has now instilled renewed bullish sentiment, with analysts forecasting an all-time high trajectory.
Analyst CredibleCrypto highlighted XRP’s fluctuating price range, suggesting a retest of the $0.75 resistance level before a major bull run, contingent on Bitcoin reaching $61,000-$62,000 soon.
Furthermore, XRP shows a multi-year bullish pennant pattern which could signal a massive breakout leading to double-digit price targets. Analysts predict significant recovery and potential price points between $10-$12 in the longer term.
Currently, XRP is trading at $0.58 with a 4% surge in the last 24 hours and a daily trading volume increase of 13.6% to $1.29 billion.
