Ripple’s native token, XRP, is currently grappling with bearish sentiments as it hovers around the $0.50 mark, reaching a low not witnessed since October 2023. Despite enduring a prolonged correction phase over the past year, XRP has demonstrated an impressive level of resilience, maintaining stability even in the face of significant sell-offs.
As of the latest data from CoinMarketcap, the cryptocurrency is trading at $0.5085, marking a nearly 5% decline in the daily chart and an 11.42% drop in the weekly chart. Meanwhile, the 24-hour trading volume is up by 77.61% at $1,318,302,381.
Renowned crypto analyst Dark Defender has injected a dose of optimism into the XRP community, suggesting that despite the ongoing downward trend, the digital asset might be gearing up for a remarkable surge of up to 1000%. However, he cautions that the market could encounter additional challenges before embarking on this potential bullish trajectory.
In a recent analysis, Dark Defender highlighted key factors for the cryptocurrency’s future movements. According to his analysis, the crucial $0.52 level serves as a pivotal point. If XRP remains below $0.52 for three consecutive days, the analyst predicts a potential dip to $0.39.
Conversely, if the cryptocurrency manages to stay above $0.52 for the same duration, a bullish scenario with a target of $0.66 is envisioned. Dark Defender concludes by forecasting that regardless of the path taken, XRP is poised to complete its current wave and anticipates a subsequent surge targeting the range of $1.88 to $5.85.
XRP Journey To $27
Meanwhile, EGRAG CRYPTO, another expert in the field, has taken to X with a bullish proclamation for XRP enthusiasts. Despite acknowledging the fatigue and frustration prevalent among the XRP community, EGRAG CRYPTO insists that the Journey to $27, as predicted in a post from August 29th, 2023, is still on course.
Analyzing recent developments, EGRAG CRYPTO draws attention to patterns in charts, emphasizing a sense of déjà vu from the cryptocurrency’s performance in 2017. With references to “Chart 1” and “Chart 2,” the expert suggests that the recent drop in XRP’s value is part of a strategic game plan, urging investors to focus on the bigger picture rather than being swayed by daily or weekly fluctuations.
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