According to reports, the altcoin market is heating up again, and XRP is back in the spotlight. Prices have steadily increased, and some traders suggest that a new wave of buying could push XRP much higher than its current level. The movements of Ethereum and BNB have set the stage. Now, everyone is watching to see if XRP can keep up.

Narrow Range Could Propel Breakthrough

According to analyst Zach Rector, XRP has been trading in a tight range just above $3.00. Recently, the price has fluctuated around $3.15, allowing for a potential increase. Rector points out that surpassing the $3.25 level could push XRP to around $4–5 'Anytime'.

That increase would be about 50% from the current price. He even marked a timeframe from August 23 to September 7 for a larger bullish move towards $7 or higher.

Ethereum's surge is helping to shape the trend. The price of this coin has risen to around $3,940 while its market cap approaches $500 billion. BNB is also making a move, surpassing the $850 mark for the first time. These movements often pull other coins up, and many believe XRP will be the next coin.

Fibonacci Projection

Based on the weekly chart shared by Tony Edward from the Thinking Crypto Podcast, XRP has clear Fibonacci levels ahead. His target is between $4.5 and $9.1. These levels align with Rector's thresholds, further reinforcing the view that XRP is preparing for a significant shift. If XRP follows these paths, each level could act as a cushion.

Although Fibonacci is just one method, its overlap with Rector's targets creates a narrative that traders can follow. It provides them with clear numbers to track and simple goals to aim for as the market fluctuates.

Anything Could Happen

Other market observers have a different perspective. They look back at previous price surges of XRP and predict that the current cycle could average around $20 per coin. In 2017, XRP surged 2,500%, equivalent to the current peak of $30. In 2021, this altcoin increased by 500%, heading towards $7.70 at the moment. By averaging these two levels, a $20 target for this season could be within their sights.

Even with the upward price chart, risks remain. News about regulations concerning Ripple and the SEC could cause prices to drop sharply overnight. If Bitcoin cools off or the global market turns bleak, altcoins like XRP could be heavily affected. Large holders also hold power. If they decide to sell when prices rise, any price surge could quickly be stalled.