Earlier today, in a detailed video analysis, crypto analyst Moon Lambo discussed the current state and future prospects of XRP, offering insights into market trends and potential breakout points.
XRP’s Market Position
Moon Lambo began by noting XRP’s strong performance, maintaining above the 60-cent mark. He emphasized the importance of the 85-cent resistance level, which, if broken, could lead to significant gains for XRP.
Moon Lambo mentioned the possibility of a minor dip in the short term, as suggested by another analyst. However, he reassured viewers that this dip should not be a cause for concern.
Views from Credible Crypto
Referencing Credible Crypto, Moon Lambo shared that a new all-time high for Bitcoin is expected within the year, with a minor pullback likely in the short term.
Historical Market Trends
Moon Lambo discussed historical sell-offs during Thanksgiving weekends, suggesting that a similar trend might occur this year.
Bitcoin’s On-Chain Metrics
He highlighted the metric showing over 70% of Bitcoin’s supply hasn’t moved in at least a year, interpreting this as a sign of strength and conviction among long-term holders.
XRP’s Technical Analysis
Moon Lambo relayed Egg Crypto’s analysis, noting XRP’s strong support at 50 cents and firm support between 54 and 55 cents. According to this analysis, for a breakout, XRP needs to surpass the 83 to 85 cents resistance.
Moon Lambo shared Egg Crypto’s bullish long-term outlook for XRP, with a potential target of $27. He echoed this optimism, though he also mentioned more conservative predictions from other analysts.
XRP’s Legal Clarity and Market Impact
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