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February 26, 2024
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Ripple News – Crypto Analyst Predicts Major Breakout For XRP Price: $1.4 On The Horizon?

The post Ripple News – Crypto Analyst Predicts Major Breakout For XRP Price: $1.4 On The Horizon? appeared first on Coinpedia Fintech News

The XRP market has significantly outperformed the top digital assets in the past month with a jump of about 24 percent. Other digital assets in the same class as XRP including Cardano (ADA), and Solana (SOL) among others have dropped double percentage points in the past month. 

XRP’s Resilient Performance

The XRP market has strongly held its position in the past two years even with the heightened negativity from the SEC vs Ripple case. Now that other top altcoins including BNB, Ethereum (ETH), and Polygon (MATIC) are under the SEC’s radar, the XRP community has more support to fight against the agency.

XRP Price Analysis by Captain Faibik

According to a popular crypto analyst on Twitter called Captain Faibik (@CryptoFaibik), XRP investors should patiently wait for the macro breakout to materialize in the near term. Furthermore, the analyst noted that the XRP price on the macro time frame is retesting the logarithmic downtrend resistance but as a support level. Captain Faibik noted that a breakout towards $1.4 is imminent based on the symmetrical triangle price action.

Also Read: Analyst Predicts Massive Surge For XRP and Ethereum (ETH) Price

Trading View

Strategic Partnerships

XRP is best described as a utility-based digital asset that is intended to solve the cross-border payments jigsaw. Ripple has made strategic partnerships with financial institutions around the world and purchased several Web3 startups to ensure the XRP mission is successful. However, Ripple has been blamed for flooding the market with more XRP coins every month instead of allowing the community to mine through staking programs.

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