XRP Price Prediction: Crypto Analyst Says Price Will Jump To $0.9
01 Novembro 2023 - 11:00AM
NEWSBTC
XRP price predictions continue to make the rounds, and one of the
latest price predictions happens to be that of prominent crypto
analyst CrediBULL Crypto, who recently gave a comprehensive
analysis of the token’s future trajectory. How XRP Price
Could Rise To $0.9 In a post shared on his X (formerly Twitter)
platform, the crypto analyst highlighted that while analyzing the
XRP/USD chart, the fact that XRP is currently enjoying an upward
trend, but that could soon come to an end as it faces a resistance
level at around the price range of $0.63. Related Reading:
Ripple Partner’s Staggering XRP Holdings Revealed, Do They Know
Something You Don’t? He was, however, quick to alleviate any fear
of a potential dump as he noted that the rejection doesn’t
necessarily translate to a massive dump down but could simply mean
a consolidation around that price range. He also
sounded optimistic when he stated that there is a “decent chance”
that the XRP price breaks that resistance level, which, if it does,
could see the token rise to as high as $0.9. He didn’t, however,
provide a timeframe for when this could happen, as he mentioned
that XRP holders might have to be patient. On the bright
side, XRP’s fundamentals are looking stronger, especially with
Ripple’s latest win against the SEC, with the Commission dismissing
its case against the company’s founders. Ripple is also actively
building to expand its services, which could see XRP’s utility
increase as a result of the company’s efforts. What Could
Hinder XRP’s Rise? CrediBULL Crypto also mentioned the factor that
was hindering a massive rally from the XRP price. According to him,
the token is simply facing the same problem that other altcoins are
encountering, which is a lack of liquidity in the market. He
stated that this was what ultimately affected XRP’s decline in the
months leading up to now, as he had predicted that XRP was going to
rise above $1 following Judge Analisa Torres’ ruling in favor of
Ripple in its case against the US Securities and Exchange
Commission (SEC). Related Reading: Trader Who Bought Dogecoin
In 2017 Maps Out Meteoric 37500% Rise To $26 Another factor that
could see the XRP price decline in the short term is the projected
parabolic rise of the flagship cryptocurrency, Bitcoin. While
analyzing the XRP/BTC chart, CrediBULL Crypto hinted that XRP could
experience as much as a 30% decline against BTC. This decline
doesn’t only apply to XRP, as he expects that other altcoins will
bleed against the foremost cryptocurrency. The crypto analyst,
however, does not doubt XRP’s potential, as he stated that the
token would be one of the biggest benefactors once, there is an
“influx of new money” in the market, which is likely to happen as
Bitcoin continues to rise. Token price sets sight on $0.6 |
Source: XRPUSD on Tradingview.com Featured image from iStock, chart
from Tradingview.com
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