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Bitcoin and crypto analyst Muro has recently joined the XRP bandwagon, predicting a potential breakout for the cryptocurrency. Muro believes that now is the time to go long on XRP, as the price has shown signs of a breakout from a technical standpoint. The analyst compares XRP’s breakout to that of ETH and SOL, indicating that it is ready to continue its upward movement. Although Muro does not provide a specific long-term price target, his price chart suggests a target around the $0.8 region.
Despite the positive sentiment from Muro, the XRP price is still in a wider consolidation period. However, many analysts in the crypto industry, including ERGAG CRYPTO and Jaydee, have also predicted a breakout for XRP. ERGAG CRYPTO anticipates a breakout towards the $1.30 to $1.50 range, while Jaydee puts a longer-term price target of $20 in the next year.
Currently, XRP is trading at $0.6429 and has seen a 5.25% increase since the beginning of December. The Fear & Greed Index indicates a bullish sentiment, with a greed level of 72. XRP is also on track to overtake BNB and become the fourth-largest cryptocurrency by market cap, as it is only $1 billion away from surpassing BNB’s market cap of $35.5 billion.