XRP’s Price Breakout sets the tone for a historic bull run to a new high

XRP remains an excellent contender in the current market cyclewith the potential to reach a new all-time high at the end of the bull run. Looking at the current price performance, the altcoin has shown resilience in the face of bearish market conditions, sparking speculation of an impending rebound.

A big rise to new high for XRP On The Horizon

After a recent breakout, XRP appears poised for a historic bull run, which predicted by Javon Marks, a market expert and trader. His analysis highlights the altcoin’s ability to break key resistance levels, setting the stage for a possible rise to a new all-time high.

This breakout coincides with general market optimism, which is creating speculation about the token’s next significant move as it attempts to regain its historic highs. As trading volume increases and investor confidence returns, the altcoin’s upward trajectory is getting a lot of attention.

The expert stated that XRP is maintaining its breakout from a bullish pattern and is currently undergoing a retest phase. After the retest of the upper line, Javon Marks expects a significant run against new records.

It is worth noting that the expert predicts that XRP will rise as high as the $10 threshold, indicating its biggest bull run. Regardless of whether the asset will rise to the $10 mark or not, many enthusiasts believe it will surpass the current all-time high of the ongoing bull cycle, reflecting investor confidence in its price prospects.

Crypto portfolio manager and enthusiast Natalie Dormer has predicted a resurgence towards the $2.80 level and beyond for XRP in the near term, citing bullish indicators. After examining the token’s recent price action, Natalie Dormer highlighted that a Bullish Classic Pennant formation is emerging within the 4-hour time frame, showing robust upward momentum.

Over the past few days, XRP has made remarkable moves, finding support near the 50 Exponential Moving Average (EMA) and recovering from it. With bullish strength, the expert argues that this development set the asset on a path towards a $2.60 target in the near term.

While altcoin consolidating within the classic pennant pattern, Dormer expects a price rally to $2.80 and higher when a breakout above the upper trendline occurs. According to the analyst, this bullish continuation pattern presents more upside potential for XRP in the coming days.

Price performance shifting towards a positive outlook

After settling in 2.3 USD on Monday, XRP has returned to the $2.5 mark with the possibility of registering further gains. In the last 24 hours, the altcoin is up nearly 5%, showing renewed upward momentum.

Growing investor confidence and activity considered to have played a decisive role in the recent rise to key resistance levels. Data from CoinMarketCap shows strong sentiment among investors as indicated by a more than 44% increase in trading volume in the past day.

Featured image from YouTube, chart from Tradingview.com