Renowned cryptocurrency analyst Xaif highlighted that XRP has approached an important resistance level at $2.4, which could be pivotal for future price changes.
URPD Chart Analysis for XRP
Xaif used the UTXO Realized Price Distribution (URPD) chart in his analysis to show that the $2.4 level is a significant threshold. This level represents a real test for the cryptocurrency, and overcoming it could open the door to substantial price growth.
Impact of SEC's Decision on XRP Price
Following the SEC's decision to drop the lawsuit against Ripple, XRP surged by over 11% and is now trading above the $2.4 level. This decision may serve as a foundation for a new support level, bolstering investor confidence in the potential for further growth.
Future Prospects for XRP After Overcoming Resistance
Overcoming the $2.4 level could lead to heightened interest from investors. Analysts predict that XRP could reach $54.19 by the end of March, based on the current market conditions and the absence of legal hurdles from Ripple.
The current changes in market perception of XRP and a number of positive factors indicate the potential for sustained growth of the cryptocurrency in the near future.
