$13 XRP? Analyst Says It’s Closer Than You Think

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of market volatility and trends. The recent surge in XRP to its three-year high is an interesting development that warrants careful consideration.

Over the past while, XRP’s worth has seen a substantial jump, hitting a three-year high of $1.27. At the moment, it’s being exchanged at $1.09, marking an 80% rise over the last week, leading some investors to ponder if this could be the start of another bull market.

Despite her experience, the analyst remains hesitant about XRP. She advises that it could show signs of growth, but there’s likely a downturn coming first, before the cryptocurrency can make another major advance.

XRP Hits 3-Year High – What’s Next?

The surge in XRP’s price to $1.26 has sparked curiosity among traders, suggesting a renewal of market enthusiasm. This is the first time in years that the digital currency has gone over the $1 barrier, an achievement that some considered impossible.

AlmostTrades recommends exercising caution despite the positive trend. They predict a short-term drop for the altcoin before it continues climbing upwards again.

At present, XRP is being exchanged for around $1.09, representing a drop of roughly 3.5% from its weekend high. This trend could be an indication of a temporary slowdown. The decrease might signal that traders are expecting a better entry point in the future before attempting to boost the price.

Anticipating The ‘Appropriate Entry Point’

AlmostTrades has pinpointed some vital price thresholds for potential purchases. It’s recommended to keep an eye on the Fibonacci retracement level at approximately $0.98, which is around 0.382. If the price drops more, the $0.88 level, or the 0.5 level, could present a promising entry point for the altcoin before it potentially rises again.

These support levels suggest that XRP is presently undergoing a standard period of consolidation after a strong upward trend, offering investors a chance to join the market before another major uptrend.

Despite being a short-term fix, this correction presents an attractive chance for those who’ve been holding back on investing to jump in at potentially lower costs.

Returning with a crucial update about XRP! Exciting developments on the horizon, yet remember not to follow price fluctuations impulsively. Instead, wait for pullbacks to significant levels (ABC, W4) and let the market structure validate your entry point. Here’s my take:

— CasiTrades (@CasiTrades) November 18, 2024

XRP: Long-Term Bullish Outlook

Almost always positive about XRP’s future prospects, CasiTrades believes that even with an expected drop in value, the altcoin has the capability to yield significant profits once the market settles down and forms fresh foundations of support.

If market conditions align, a positive stance on XRP is suggested, as predicted prices vary from $8 to $13.

The analyst stated that her perspective for the long haul remains unchanged, and she believes the $8-$13 target isn’t much further away from our current position.

Legal Support

Currently, XRP is experiencing a positive legal development. On Thursday, 18 U.S. states have filed lawsuits accusing the Securities and Exchange Commission of exceeding its authority in the cryptocurrency sector.

Regardless if the lawsuits directly mention XRP, this situation could pave the way for a friendlier regulatory landscape for cryptocurrencies in general, potentially benefiting both Ripple and XRP.

In the coming days, a potential reversal could occur. Nevertheless, the outlook for XRP seems positive if handled appropriately, considering its robust foundation and increased optimism among investors.

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2024-11-20 18:22