Analysts have identified technical and fundamental reasons as the main causes of XRP’s remarkable comeback. The market is feeling more optimistic now that Ripple has partially won its legal battle against the SEC, setting up XRP for possible long-term growth. Its bullish momentum is further supported by active whale accumulation and the recent breach of important resistance levels.

A Historic Rally in Progress

This month’s 440% increase in XRP’s price makes it one of the longest price rallies in almost eight years. According to renowned market analyst Income Sharks, the present trend has lasted for four weeks and two days, and there is increasing hope that XRP will maintain its bullish trajectory for a fifth week in a row. The analyst said, “Since 2017 this is the longest rally we’ve seen. 4 weeks and 2 days. Maybe this time we can make it to 5 weeks before the red candle comes.”

Bullish Momentum continues

According to another renowned expert CrediBULL Crypto, the XRP rise has the potential to continue with another 100% increase, reaching $4.21. He expressed hope for XRP, claiming that the coin is currently seeing a notable uptrend. CrediBULL claims that XRP is moving well into its third subwave of a more extensive bullish pattern.

“The first subwave of the larger third subwave looks complete, while the second subwave was short and sweet,” the analyst said, emphasizing that two more waves within this third subwave might push XRP over its all-time high (ATH).

Additionally, the analyst denied that it was the best for XRP, as some have claimed. I believe that we are merely warming up. “It will be pure mania on the ascent,” the analyst said.

Whales Fueling the Surge

The XRP whales bought an incredible 160 million XRP, which is worth $380 million, during the last weekend, extending the XRP price rise.

The substantial buildup from wallets holding 1M–10M XRP has caused XRP to hit its greatest values in almost eight years. In the last three weeks, 679.1M XRP, which is equivalent to $1.66 billion, has been added to these wallets.

XRP Price Rally Duration and Market Trends

According to seasoned trader Peter Brandt, XRP is expected to see more rises because it has emerged from a “massive coil,” a pattern that usually precedes major price increases. His updated research is in line with current market patterns, suggesting that XRP might hit double digits.

According to market analyst Vlad XRP is exhibiting trends that are comparable to those of Ethereum (ETH) and Bitcoin (BTC). Vlad claims that XRP has been tracking the price movements of these coins day or two after their pumps, with some slight consolidation, in order to replicate their moves. The expert predicting a delay between $2.40 and $2.60 before reaching $3, XRP recently saw a harsh rejection at $2.90 but recovered swiftly.

Growing Market Optimism

As of now, XRP is trading at $2.35, giving it a market value of $134.61 billion. This reflects a daily increase of 12.67%, indicating strong upward momentum. Market analysts are observing growing optimism, as evidenced by the 54% surge in trading volume, which has reached $4 billion. Additionally, open interest has risen by 4% to $4.35 billion, suggesting that traders are increasingly positive about XRP’s prospects.

Conclusion

Maintaining positive market circumstances, breaking through significant resistance levels, and maintaining bullish momentum will determine how long the XRP price rally duration lasts. Predictions seem hopeful, but there is no assurance that this upward trend will continue for very long. If the rise continues into the fifth week, it will establish a new standard, but investors should be ready for any corrections.

Also Check : XRP Unleashed Release: Stream on Netflix, Amazon & Apple TV – The Crypto Saga Begins!