There’s Still Hope for a New All-Time High If XRP Holds This Support

Analysis suggests that a possible XRP surge to a new all-time high remains intact if it continues to hold crucial trendline support. XRP moved one place downward in the cryptocurrency rankings by market cap following its recent price slump. The XRPL native token’s 17% and 28% weekly and monthly drawdowns have ensured that stablecoin Tether flipped it to become the third-largest asset by market valuation. Nonetheless, recent analysis indicates a possible rebound looms for XRP. The commentary highlighted the crucial support the asset must hold for a quick swing to new price discoveries. Bullish Structure Remains Intact Despite recent claims that a highly accurate indicator has flashed a sell signal on the XRP 2-week chart, analyst Crypto Michael suggests that its bullish structure remains intact. In a Feb. 26 commentary, the market watcher stated that there are possibilities that the XRPL native token could still attain new all-time highs in the near term. His commentary highlighted a crucial demand wall that XRP has held despite the substantial price decline. An attached chart shows that the digital asset has stayed true to a support line in a developing symmetrical price structure.

While Crypto Michael asserted a further sideways trend in the remaining days of this month, he predicted that XRP would take a decisive price action in March. However, if the coin continues to hold the support line, its next trend could be a surge past its all-time high to unprecedented prices. Nonetheless, the analyst identified the price mark XRP needs to break to activate this surge from the current market price. He noted that a break above the upper resistance of the symmetrical structure at $2.60 would spur a sustained drive to new highs. Bulls Still on Top Meanwhile, another commentary has highlighted XRP’s bullishness despite recent corrections. Prominent market analyst Javon Marks noted that bulls are still on top of their game and would “be coming to dominate” soon enough. In an X post, he pointed to a massive lower price rejection last seen in XRP’s price chart since the 2017/2018 cycle. Marks showed the perfect candlestick and volume combo seen when XRP bounced from $1.7936 to close at $2.7024 on February 3.

As a result, he insinuated that though bears appear to be driving prices lower, bulls are still in the pole position and will soon show dominance. Notably, this follows the analyst’s earlier prediction that XRP would surge over 40x to $99. In the meantime, XRP trades at $2.22, rebounding slightly from yesterday’s lows.