XRP Could Rally 27% This Week In ‘Tremendous Move’, Analyst Says
24 Outubro 2024 - 8:30PM
NEWSBTC
The price estimate for XRP indicates a possible increase of 17%,
perhaps attaining around $0.621196 by November 23, 2024, data from
CoinCodex shows. Despite this favorable projection, the prevailing
market sentiment is pessimistic, reflecting apprehension among
investors. Related Reading: 5 Million Strong: Active Ethereum
Wallets Drive Strong Momentum The Fear & Greed Index stands at
69, indicating a market characterized by greed, which frequently
results in heightened volatility. In the last 30 days, XRP has
experienced 14 positive trading days, equating to around 47%, with
a price volatility of 5.84%. Present Market Circumstances Right
now, XRP is worth $0.5293, a little decline of 0.77%. This dip
draws attention to a more general trend of resistance the token has
been faced with since October started. According to analysts, it is
still not the right moment to invest in XRP, at least with regard
to current bearish emotions and recent difficulties with price. In
terms of market capitalization, XRP has reached $30 billion,
showing some improvement of late. Despite the warning signs, the
majority of analysts are still bullish on the potential price
increase for XRP in the next several months. Depending on market
conditions and sentiment, predictions range from $0.75 to $0.86,
with further upside by the end of 2024. Crypto analyst Dark
Defender forecasts the altcoin hitting the key $0.86 mark, which is
a 27% increase in price at current levels. The path to such target,
he said, will be a “tremendous move.” Hey there. This post is a
long one. So get ready. Let’s check together where we are in the
weekly time frame. We set a structure for $XRP over a year back,
considering the 1st wave at $0.9327. 1. The ones know, know, that
we targeted $0.89 and above when XRP was at $0.28.…
pic.twitter.com/72QRlt1Djy — Dark Defender (@DefendDark) October
22, 2024 Investor Sentiment And Forecasts The conflicting signals
in the market impede investor decision-making on their next
behavior. While the technical signals caution, the Fear & Greed
Index shows that many people still have a tendency to welcome
risks. This discrepancy frequently results in erratic price
fluctuations in cryptocurrencies such as XRP. Investors are urged
to monitor market movements and mood indicators prior to making
decisions. Moreover, Ripple’s continuous legal conflicts with the
SEC constantly hide XRP’s expected performance. Regarding the
possible creation of an ETF for XRP, CEO Brad Garlinghouse has
voiced enthusiasm that would significantly increase the market
presence of the cryptocurrency if realized. Still, many investors
could show reluctance unless these legal questions are resolved.
Related Reading: Bitcoin ETF Inflow Streak Breaks With Nearly $80
Million Outflows In Sudden Reversal Caution Required In light of
the prevailing adverse mood and volatility in XRP’s price, it may
be prudent for prospective investors to exercise caution. Despite
the potential for development suggested by future price forecasts,
the current outlook implies that this may not be the ideal moment
to enter the market. Featured image from Pixabay, chart from
TradingView
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