XRP Bulls Eye New Highs Amid 45% Rally

XRP has experienced a significant price surge in recent days, rising by 45% over the past week. This increase has led some analysts to speculate about the token's potential future value.

Cryptoinsightuk, an XRP analyst, believes that the token could extend its rebound towards $2 if bulls defend a key support zone between $1.36 and $1.43. According to Cryptoinsightuk, this range has been repeatedly defended by buyers following XRP's move to $1.70.

The analyst notes that subsequent retests of the zone have also held, potentially establishing a series of higher lows. However, Cryptoinsightuk acknowledges that XRP could be forming a deeper ABC correction instead.

Cryptoinsightuk also warns investors not to underestimate XRP's ability to make rapid price movements during periods of expanding crypto volatility. He points to 2017, 2021, and 2024 as examples of such periods when XRP's price action became 'extremely aggressive'. If XRP produces another weekly candle similar to last week, Cryptoinsightuk believes the token could potentially already be trading above $2.