Don’t Bet on XRP Reaching $1,000 Before This Key Hurdle: Analyst Warns

• XRP price surges past $0.65 resistance, fueled by whale accumulation.
• Analysts predict further gains if trading volume increases.
• XRP faces key resistance level at $0.7542, hindering further price movement.

XRP experienced an over 10% price surge today, re-entering the $0.65 threshold after four months, stirring wild optimism regarding its price trajectory. However, some market analysts advise against overly ambitious predictions of $100 or $1,000, as the asset still faces resistance levels that must be overcome.

Macro trader Allin, known as “Crypto Addict,” recently highlighted the immediate challenges XRP must face before aiming for higher targets. According to the analyst, the $0.7542 level has consistently acted as strong resistance within a wedge pattern over the years.

First remove all the #XRP $100 – $1K bros. We have some actual obstacles to overcome here. $XRP $0.7542 ish has been a big resistance level many times inside the wedge over the years. RSI is 66 and a push up to 78 or so gets us there. We need volume to come in at that moment to… pic.twitter.com/dGNIPqpqux

— Crypto Addict (@xAllinCrypto) July 30, 2024

The analyst noted that…

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