What Will Facilitate XRP Price Rise To $20
Crypto analyst Jaydee believes that the XRP price has the potential to reach $20 during the next bull market. He suggests that this price level is achievable if certain factors are taken into consideration. According to Jaydee, a structure break on the charts would be necessary for this scenario to unfold.
However, Jaydee is not overly optimistic about this outcome and plans to take profits when XRP becomes overbought on multiple higher timeframes. It’s worth noting that he previously expressed doubt about XRP reaching $10 to $15, so his latest analysis surprised some of his followers.
XRP’s Current State
Another crypto analyst, Egrag Crypto, has analyzed the current state of XRP. He believes that things are looking bullish on the monthly time frame and suggests that a major pump is brewing. However, he also anticipates a potential move to the downside before this pump occurs, which could cause panic among weak-handed investors.
Egrag Crypto predicts that XRP could drop to $0.34 if it fails to hold above the $0.55 support level. On the other hand, if XRP closes above $0.75, it would invalidate his current setup.
XRP’s Bottom Area and Potential Breakout
XRP Shark, another crypto analyst, shares similar sentiments with Egrag Crypto. He believes that the price range between $0.35 and $0.45 could be the bottom area for XRP’s downward move. Once it reaches this range, he expects a violent move to the upside.
These downward movements are seen as necessary by analysts like Egrag and XRP Shark to shake out weak hands before XRP experiences new highs. Crypto analyst Crypto Rover predicts a massive breakout for XRP in March.
Hot Take: XRP’s Potential for Growth
Analysts have differing views on the potential growth of XRP. While Jaydee suggests that $20 is possible, he remains skeptical. Egrag Crypto and XRP Shark anticipate downward moves before a significant upward surge occurs. This suggests that volatility may continue in the short term, but there could be opportunities for accumulation. Ultimately, the future of XRP’s price will depend on market dynamics and investor sentiment.
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