XRP’s value could surge 5x after Ripple is set to launch its RLUSD stablecoin.
For a major rally to occur, XRP must close above $0.55 on the weekly chart.
If Bitcoin’s dominance starts to decline, the altcoin season could help XRP achieve significant growth.
Ripple’s XRP is currently trading at just $0.53, leaving many traders wondering: Will it surge 2x to 5x after the launch of its RLUSD stablecoin? This speculation comes as XRP has struggled to break through the $0.50 mark, leading to frustration among holders. They are eagerly hoping that the altcoin will break this stalemate and rise back to prices above $1.
XRP needs to break $0.55 to achieve a 5x surge
Bitcoin’s dominance in the market is approaching its peak. When Bitcoin’s dominance starts to decline, the price of altcoins such as XRP could increase by 2x to 5x.
Because the year ahead could be a very favorable one for the entire cryptocurrency market. Bitcoin’s dominance has been rising over the past few months, but I expect it to fall soon. This could lead to the advent of an altcoin season, giving currencies like XRP a chance to thrive.
XRP needs to secure its weekly close above $0.55. If it breaks below this level, it could test support around $0.40.
Bitcoin’s Key Role in XRP’s Future
Until Bitcoin enters a new price discovery phase, XRP and other lagging altcoins will not see significant price fluctuations. It is predicted that XRP will fluctuate between $0.43 and $0.67 before Bitcoin breaks through the resistance level.
Additionally, there are two key price points for XRP. If the monthly close is above the upper Bollinger Band (currently at $0.67), it could signal a bullish breakout, indicating that XRP could eventually “pop” and experience a significant price increase. Conversely, if XRP closes below the lower Bollinger Band at $0.43, it could signal a bearish trend, leading to further price declines.
With Bitcoin’s dominance nearing its peak, there is speculation that once Bitcoin starts to fall, it could create room for altcoins, including XRP, to rebound. However, market sentiment remains cautious for now.
