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Highlights
- XRP price is at a pivotal point as an expert urges traders to hold at least 10,000 tokens to achieve financial freedom.
- Top analysts have shared bullish XRP price forecasts, with some suggesting that the altcoin could reach fresh all-time highs.
- Ripple has also overcome resistance at the 200-day EMA, and eyes the next breakout at $2.70.
XRP price is up by 7% today, April 23, to trade at $2.24 at press time, as the entire crypto market records gains. Amid Ripple’s uptrend, a renowned crypto expert has stated that the average crypto trader should hold at least 10,000 Ripple tokens to become financially free. His HODL strategy suggests that XRP’s uptrend might be in its early stages.
Expert Urges Traders to Hold at least 10,000 XRP as Price Surges to $2.2
According to an X post by crypto expert EDO FARINA, traders should consider holding at least 10,000 XRP tokens. He noted that holding this amount of tokens would be equivalent to attaining financial freedom if Ripple outperforms the broader crypto market.
If a trader chooses to follow FARINA’s HODL strategy and buys 10,000 XRP tokens at the XRP value today of $2.24, their entire crypto holdings will be worth $20,240. Such a trader would make notable gains if the XRP price rallies higher and possibly clinches record highs above $3.
FARINA’s outlook comes as popular crypto analysts share compelling reasons not to sell XRP. Analyst DonAlt expects Ripple to be one of the top performers in this cycle after bouncing from its recent lows. In a recent X post, he noted that if XRP price holds support at $2.15, it could fuel a breakout to $2.72.
Additionally, Ali Charts noted that the XRP price is on the verge of a bullish breakout to $2.70 after forming an inverse head and shoulders pattern. In his recent X post, the analyst noted that the breakout will be confirmed if Ripple breaks resistance at the neckline of $2.40.
These predictions outline why Farina believes that traders should hold at least 10,000 XRP tokens to attain financial freedom because if the price reaches these targets, such traders would make significant profits.
Ripple Technical Analysis as it Flips 50-day EMA
XRP price appears to have overcome the recent downtrend after testing crucial resistance at the 50-day EMA of $2.19. However, Ripple needs to make several decisive daily closes above this EMA level to confirm a continuation of this uptrend.
Meanwhile, the daily RSI is rising and has crossed above 50, confirming that bulls are now in control of Ripple’s price action. This RSI reading is also at its highest reading in nearly two months, indicating that the bullish momentum is at its strongest level since early May.
Therefore, as bulls gain control, the XRP price could turn the $2.22 resistance level into support and flip the entire market structure to bullish. If this happens, Ripple will rally past $2.70, and once this breakout is confirmed, the rally might extend towards fresh all-time highs.
However, the invalidation of the ongoing bullish thesis and positive outlook towards the XRP price will happen if this altcoin loses support at the critical hurdle of $2.20 again, which will stir a resumption of bearish trends. Therefore, while holding at least 10,000 XRP tokens could offer significant returns, it also carries significant risk.
Frequently Asked Questions (FAQs)
1. Why is XRP price gaining today?
2. Should traders hold at least 10,000 XRP tokens as the price soars?
3. What is the short-term target for the Ripple price?
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