XRP Eyes $7: Market Analyst Paul Bennett Sounds the Alarm
XRP is gaining momentum, and analyst Paul Bennett stipulates the altcoin could surge to $7, if it can hold the crucial $2 support level.
The Roadmap to $7
Analyst Paul Bennett maps a clear path for XRP’s potential surge:
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Hold $2: This critical support must hold, or the rally loses momentum with the current price being $2.16.
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Test $4.50 resistance: Surpassing this historical seller zone would signal renewed bullish confidence.
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Break $4.50 decisively: Confirms upward momentum and sets the stage for the next leg.
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Target $7+: Clearing these hurdles could propel XRP to $7, boosting its market cap to ~$440B and cementing its spot among crypto’s elite.
Why XRP Suddenly Looks Alive
XRP is back in the spotlight. In just 24 hours, over $11 billion flooded the market, fueled largely by institutional investors seizing new, regulated opportunities:
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Franklin Templeton’s XRPZ ETF – a streamlined entry for professionals.
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Grayscale’s GXRP ETF – adding legitimacy and easy access.
These vehicles let institutions engage without the risks of unregulated trading, driving not just price gains but renewed confidence in XRP’s market outlook.
The Crucial $2 Line
Despite growing optimism, Bennett stresses that XRP’s $2 level is critical because it presents a make-or-break situation. Technical patterns and institutional interest hint at a potential surge, but only if support holds.
Therefore, staying above $2 could pave the way to a historic $7 rally, while a breakdown risks renewed selling. The $2 threshold isn’t just a number, it’s the gateway to XRP’s next major bull run.
Conclusion
XRP’s path from $2 to $7 is real, not speculative, driven by technical signals and surging institutional demand. Analyst Paul Bennett acknowledged the next move hinges on holding $2: defend it, and a historic rally is possible; fail, and the opportunity slips away.
Source: https://coinpaper.com/12680/2-lifeline-the-key-to-xrp-s-7-surge
