XRP To $12: Analyst Reveals What Could Trigger The Breakout
The technical and fundamental conditions for XRP are currently likened to the pre-euphoric phase that previously drove its price from $0.50 to $2.70 in 2021, with potential for a surge towards $12. Bitcoin's price action is noted to correlate with the broader market, having achieved its highest weekly close without entering the overbought zone, which historically precedes significant price increases. XRP's chart shows a breakout from a Wyckoff accumulation range, indicating bullish momentum. Recent developments include Ripple's partnership with the Dubai Land Department for tokenizing real estate and the acquisition of Hidden Road, enhancing XRP's utility. Speculation about Ripple acquiring Circle and the launch of RLUSD stablecoin adds to positive sentiment. The analyst emphasizes risk management, suggesting profit-taking at interim targets to safeguard gains amid potential volatility. XRP is currently priced at $2.30.
