Analyst Predicts XRP Could Reach $4 to $6 Amid Breakthrough

An analyst predicts that XRP is on the verge of a breakout, suggesting that if it maintains a price above $2.34, the price could surpass $2.65 and potentially reach new highs. Bitcoin reaches a new milestone, Altcoin follows suit. After weeks of anticipation, Bitcoin (BTC) reached a peak of $112,000 on July 9, marking a new milestone for this cryptocurrency and paving the way for another record-breaking rally. Other major digital assets, including Ethereum ( ETH ), XRP, and Solana ( SOL ), also saw significant gains within just 24 hours, rising 6.4%, 4.9%, and 3.7% respectively. The surge of BTC is largely attributed to the strong performance of the spot Bitcoin exchange-traded funds (ETF), with net inflows currently exceeding $14.4 billion. Additionally, the continuous addition of BTC to the treasury by companies is seen as a contributing factor to the bullish trend of the cryptocurrency.

However, some analysts have linked this increase to growing concerns about dollarization and the 10% decrease to date of the U.S. Dollar Index. Analyst Predicts XRP Will Experience a Strong Breakout Although these factors are believed to be contributing to the recent positive price movement of Bitcoin, pushing the price to new highs, an analyst predicts that XRP is also on the verge of a strong breakout. Arthur Azizov, founder and investor at B2 Ventures, argues that if XRP maintains a price above 2.34 dollars for a long time, it has the potential to reach a new record high. "XRP is currently trading near an important level. If the price holds above $2.34 and maintains above this level, it is likely to head towards a new high around $2.65," Azizov said. He noted that this asset has been trading within a range since December of last year, with prices expected to continue trending towards the highest point in this range. "A strong directional move could occur when XRP breaks out of this accumulation phase. Since XRP has been accumulating for quite a while, the outlook remains positive. Most likely, the breakout will be to the upside, with a target in the range of $4–$6." The founder of B2 Ventures further asserted that XRP is one of the few digital assets that can "move independently" or not "always be bound to the general trend of other altcoins". This indicates that XRP can "respond less or more strongly to general market fluctuations". He added that the past performance of this cryptocurrency asset, as well as the partnerships that the issuing entity has announced, is likely to indicate further growth for XRP. Azizov added: "And we cannot forget that some XRP ETF applications are being reviewed by the SEC, which is also a positive signal for the growth potential of this asset."