$XRP: Crypto Analyst Says ‘It Is Going To Be Buck Wild When This Thing Goes’

Introduction

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.

Short-Term Predictions

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.

Bitcoin’s Influence

He stressed the influence of Bitcoin on XRP’s price movements, highlighting that while XRP can have independent runs, reaching new all-time highs often depends on Bitcoin’s positive trend.

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.

Long-Term Outlook

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

Moon Lambo highlighted XRP’s recent legal clarity and its positive impact on whale accumulation and institutional investment, indicating a strong future for XRP in the market.

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2023-11-21 10:50