As XRP rides a 35% price surge this week, the crypto world is buzzing with anticipation over potential significant breakouts. Within a week, XRP’s price escalated from $0.43 to $0.60, an upward shift that has brought a wave of excitement amongst crypto traders, as per CoinMarketCap data.
The recent upturn has ignited bullish narratives, with several crypto analysts making optimistic predictions about the cryptocurrency. Crypto trader Crypto Michael recognized a bullish pennant pattern forming within XRP’s price chart over seven years, speculating that “we might be about to witness one of the most significant breakouts in crypto history.”
XRP has seen substantial fluctuations since the start of the year, trading between a high of $0.71 and a low of $0.41, a significant 75% range. Benefiting from this upward momentum, crypto commentator Amonyx joined the positive chorus with a prediction of XRP reaching a new all-time high.
Despite its current high being $3.40, attained in January 2018, Amonyx believes that the crypto will continue to scale new heights. Adding to the confident commentary, crypto analyst Dark Defender pinpointed the next key price point as the master fundamental level for XRP—an increase of only 10% from its current status.
The recent 35% price increase has spurred a wave of future traders. Bitcoin’s Open Interest jumped 58% to $727.88 million over the past five days, reaching its highest level in three months, according to CoinGlass data. This surge is suggestive of a favorable market reaction, with more participants engaging in XRP’s promising journey upwards.