The Loss of Momentum in XRP Value Reflects Market Sentiment
You may have noticed that the value of XRP has been on a decline lately, echoing the overall sentiment in the market. This downward trend comes after its initial gains following a favorable court ruling in the SEC and Ripple case, and amidst speculation about the future price movement of XRP.
An Analyst’s Perspective on XRP’s Bearish Momentum
According to a pseudonymous cryptocurrency analyst known as iDrag0xxx, the weekly chart for XRP shows a clear slowdown in bearish momentum. In a recent post on TradingView, the analyst points out that XRP whales have strategically pushed the price down to the 0.78 Fibonacci level, which is often seen as a prime entry point for whales. This suggests the possibility of a significant price reversal.
Machine Learning Algorithm Predicts Minor Bullish Momentum for XRP
Additionally, a machine learning algorithm at PricePredictions.com predicts that XRP is likely to experience a minor bullish momentum by the end of September, with a potential price of $0.52.
Hot Take: Understand the Risks Before Investing in XRP
Before making any investment decisions, it’s important to remember that the content on this site is not intended as investment advice. Investing in cryptocurrencies is speculative, and there is always a risk of losing your capital.
The post XRP price forecast for September-October 2023 appeared first on Finbold.
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