XRP: Correction before the cycle peak?
10:45 ▪ 5 min read
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Altcoins
As the crypto market swings between euphoria and uncertainty, XRP is under serious warning. According to analyst Benjamin Cowen, the crypto could experience a final drop before reaching its cycle peak. This analysis, based not on promises but on historical technical signals, calls for caution.
In brief
Benjamin Cowen, a renowned analyst, estimates that XRP has not yet reached its cycle peak.
A final correction around $2.60 to $2.70 is likely before a potential bullish recovery.
Despite a bullish pattern against Bitcoin, XRP remains weak against BTC in the long term.
Cowen urges caution and recommends assessing XRP in Satoshis instead of dollars.
A technical drop before the peak?
In his latest podcast, Benjamin Cowen offers a cautious yet detailed technical analysis of XRP's trajectory. According to him, the crypto may soon see a correction before reaching its cycle peak, following a bounce to $3.27.
"XRP may retest its bullish support zone, likely situated between $2.60 and $2.70," he indicates. This scenario is based on previous bullish cycles of the crypto, where such a drop had preceded a peak. For Cowen, the current setup suggests an imminent end of the cycle, marked by an increase in risk indicator tensions.