As XRP withstands several pullbacks to defend the $1 psychological threshold, analysts consider XRP undervalued and soon to explode to a new peak.
The daily chart shows XRP surged by 14.3% to trade at $1.66 at press time, recovering from the vast correction on Tuesday. The rebound elevates the XRP market cap to $95.504 billion, flipping BNB from the fifth spot. A renowned analyst, Pharaoh, echoes other market commentators urging XRP enthusiasts to buy the altcoin before the imminent breakout rally.
XRP Cheap to Buy in the Current Price Range
A recent disclosure by Pharaoh indicates that acquiring XRP when the price holds the $1.40 range is a huge bargain. The analyst suggests that crypto market participants would discover that XRP is undervalued, thereby capable of a sharp uptick. He noted that the primary concern is ascertaining how high the XRP price could go.
Pharaoh reiterated that every $100 committed to XRP could translate to greater value in the future. The expert urges investors to consider the history and ongoing development.
Historical Performance of XRP
A yearly timeframe analysis of XRP shows investors have realized a 134% return on their investment since November 2023. The substantial of these gains arose in November 2024. Nonetheless, Pharaoh indicates that the investors incur losses in the three-year window since XRP trades below the 2021 peak.
The analyst observes that investors who acquired XRP seven years back are witnessing a 62% loss from the capital invested. Despite the 217% rally in the past 24 hours, the asset is still 54% below its all-time high (ATH) of $3.40. Meanwhile, the ten-year scale shows that those who acquired the XRP had a +51,003% return.
Although the subdued performance of XRP has eroded investors’ portfolios recently, the narrative appears to shift. They consider that undertaking XRP investment today could prove invaluable as the altcoin heads up in the future. The bullish outlook emerges from the improved regulatory environment, tech advancements, and expanding adoption.
XRP Potential Undervalued
A recent commentary by Black Swan co-founder Vandell Aljarrah indicates that the XRP potential is undervalued similarly to rival Stella (XLM). He considers XLM and XRP to be promising assets within the finance space.
Citing the history of their underperformance, the analyst observes that the subdued return explains the XRP’s struggles that hindered a favorable profile.
However, Aljarrah is optimistic that a $20 price is possible, particularly when it reclaims the 2017 cycle peak against Bitcoin.
With the crypto market holding on to the recovery phase, XRP is leveraging the ongoing rebound to regain pivotal support levels. XRP has shaken off the consolidation phase when it stumbled to $1.28 on Tuesday. It has surpassed the $1.4 psychological level to solidify its positioning above the $1.6.
XRP to Outperform Bitcoin
Amid the recent push, XRP has sustained its upward trajectory against Bitcoin since November 12. The bullish trend prompts the outlook that it could outperform Bitcoin in the current bull run. Market analysts predict an ambitious price target was last witnessed during the 2017 BTC peak.
CryptoBull indicates XRP still performs poorly against the BTC since 2018, plummeting rapidly within seven years. While previous attempts to breach the trendline turned futile, XRP has gained 111% against BTC this month. CryptoBull is optimistic that further XRP uptrend is imminent as the altcoin is within the early phase of a bull run.
XRP Path to $20 if XRP
While XRP is still miles below the early 2017 peak, it emerges from the recent uptrend action by Bitcoin towards $100,000. CryptoBull indicates that XRP is 1,500% below the 0.0002454 BTC value attained in May 2017.
However, a similar rally witnessed at the onset of 2017 could elevate the XRP price to $20. With Bitcoin trading at $97,282, the 0.00002454 BTC value would amount to XRP trading slightly above $23.Attaining this price would necessitate XRP to rally by 1390%.
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