According to Pentoshi, the price of XRP has hit a historic support against the BTC which dates back to 2014. He insists that it’s time to stop being bearish on XRP and take a bullish stance. Pentoshi, who is also one of the best XRP price analysts in the space, says that hitting this historic support level might invite a 60% surge in the price of XRP in the next few days. Right now, the XRP to USD pair is at the lowest unit of measurement which is 2500 satoshis.
At this point, XRP is doing worse than it was during the 2018 crypto winter. As its lows are in an entirely different level. Pentoshi said;
“$XRP I’m ready to stop being bearish. Bias has changed. Notes on chart. Historical level dating back to 2014 on Polo chart. Sellers losing momentum. Targeting 4k. Fireworks incoming ”.
The fact that XRP is falling is discouraging because it is among the few altcoins that have real-world use cases. Thanks to the effort by Ripple, XRP is being used by major financial institutions. There have been allegations against Ripple by the XRP community. Everyone believes that Ripple’s sale of XRP tokens is directly responsible for the drop in price. However, if the XRP price prediction by Pentoshi occurs, XRP bag holders will be celebrating soon. On the other hand, if the price is XRP fails to hold the support, there is a strong chance that it will reach lower lows soon. This will drive the price of XRP to 5-year lows.