XRP price has recorded a surge of over 6% today, hovering around the $2.5 mark amid a broader crypto market recovery. Amid this, a renowned market expert has predicted a potential rally to $38 for Ripple’s native asset, citing technical and historical trends. Besides, the recent Ripple Vs SEC update has further fueled speculations in the market.
XRP Price Surged 6%: A New ATH Imminent?
XRP price has surged more than 6% today and traded at $2.48, while its one-day trading volume skyrocketed 233% to $10.5 billion. Notably, the crypto has touched a 24-hour high and low of $2.57 and $2.31. Besides, the XRP Futures Open Interest rose more than 15% to $3.76 billion, reflecting the soaring market interest.
Amid this, a flurry of investors has indicated a potential rally for Ripple’s native asset’s price. With Ripple CEO Brad Garlinghouse revealing a potential big win in the XRP lawsuit, the community has been eying the future trajectory of the coin.
XRP Price To Hit $38?
In a recent X post, expert Gert van Lagen made a bold prediction for XRP price, forecasting a parabolic continuation of its bull market. According to van Lagen’s analysis, Ripple’s native asset is poised to bounce off the neckline of a 7-year-old Double Bottom/Ascending Triangle pattern.
According to his analysis, XRP is targeting a minimum of $38 based on historical trends. The last breakout of lesser magnitude resulted in the price doubling its parabolic target, indicating a potentially conservative estimate. Notably, Van Lagen’s analysis suggests a high level of confidence in XRP’s bullish trajectory.
The implications of van Lagen’s prediction are significant, indicating a potential major upside move for Ripple’s native asset. As the cryptocurrency market continues to evolve, expert analysis like van Lagen’s provides valuable insights for investors and enthusiasts alike.
Source: Gert van Lagen, X
What Lies Ahead?
A flurry of trends indicates a potential rally for the coin ahead. Besides, the recent comments from Ripple CLO Stuart Alderoty regarding the cross-appeal have further boosted the sentiment.
On the other hand, the recent XRP investment advancements have sparked hopes for a robust rally ahead. For context, Bitnomial launched the XRP Futures Contract recently, which has gained notable traction from traders.
Source: EGRAG CRYPTO, X
On the other hand, EGRAG CRYPTO has recently predicted XRP price to hit $27 in the near term. In addition, in a separate analysis, he said that the crypto is poised to hit $8 in the near term once it closes above the $2.9 support.
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