Crypto analyst Mathew Perry provides an overview of XRP on YouTube based on recent performance and its potential for future growth. He emphasized that XRP is “just getting started,” owning to its strong positioning in the cryptocurrency market.
The analyst pointed out that, despite a mixed performance across the broader crypto market, XRP has shown remarkable positivity. Yesterday, the asset reached approximately $0.70 per coin, peaking at $0.709 within the past day, although it experienced lows around $0.59.
The analyst noted that he personally holds 990,000 XRP, viewing the increase in trading volume and market interest as a strong indicator of XRP’s enduring potential.
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Rising Bullish Metrics for XRP Price
The analyst stated there is a significant rise in XRP’s trading volume, which has surged to about $10-11 billion of the daily $300 billion market volume an impressive increase of around 188% in just 24 hours.
The volume-to-market cap ratio for XRP stands at approximately 25.99%, underscoring its ongoing popularity and movement within the market.
Despite historical price fluctuations between $0.50 and $0.70, the analyst expresses unwavering confidence in XRP’s future.
He believes that the asset has “so much more left on the table,” attributing this optimism to strong community support, legal clarity, and expanding partnerships.
These factors are seen as potential catalysts that could help XRP break free from its historical price cycles.
Analyst Predicts Long-Term Breakout
While acknowledging the recurring price cycles that XRP has experienced, the analyst anticipated that ongoing legal developments and broader adoption of the asset could trigger a long-awaited breakout.
He emphasized a long-term, strategic perspective, focusing on XRP’s potential to surpass its current highs rather than seeking immediate short-term gains.
With a total balance of over $62,620 and gains exceeding $117,000 from his XRP investments, Mathew Perry indicates that his holdings are aligned with a clear exit strategy.
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He suggested that XRP’s upward journey is far from over, encouraging traders to speculate on XRP’s future trajectory and potential price targets.
XRP Technical Analysis
From a technical price perspective, the price of XRP has broken out of a major resistance level. The price was trading within a range of $0.48 to $0.65 before yesterday’s breakout. The resistance at $0.65 has held the price from going higher since March.
Breaking above this key level is a major breakthrough. However, we need to see signs of continuation. At the time of writing, the XRP price is also retesting the broken resistance, seeking to make it a new support level. If this is successful, we could see a continuation in the price.
The major key right now is to ensure that the price closes above the $0.65 resistance this week to turn it into support.
