Analyst Explains Why XRP Will Reach $3.2: Downtrend Is Temporary

The price of XRP has dropped significantly after reaching $2.9 this week. This has generated questions about whether the current run is ended, but crypto expert MadWhale says XRP has further upside potential.

The Analyst Explains Why XRP Will Reach $3.2

MadWhale discussed why XRP will reach $3.2 in a TradingView article. The expert cited XRP's high trading volume and long-term underperformance relative to other cryptos. XRP stagnated as other currencies gained.

MadWhale said the stock is heavily squeezed and set for a breakthrough after this prolonged stalling. The expert said that fundamental and technical analysis suggest a positive outlook, with the chart showing considerable upward potential. He expects XRP to return to its ATH and perhaps higher objectives.

After a two-week parabolic rise, XRP has cooled and retraced in the previous 24 hours. Crypto analyst Dark Defender foresaw this correction. He predicted XRP to stay between $2.13 and $2.92 for a few days before rising again.

Predicted XRP would climb to $3.9993, the mid-target level. XRP's current ATH is $3.8, thus a rise will set a new one.

Analyst recently predicted that a comeback from $2.19 will lead to new highs and sustain XRP's bullish trend. Egrag Crypto believes XRP will reach double digits this market cycle.

Path to $3.99

Dark Defender discussed XRP's surge to $3.99 in his latest X post. Analyst: XRP price has moved Fibonacci levels. This current downturn was predicted, he said. The crypto expert said side movements might endure longer.

The crypto researcher also highlighted XRP price levels to monitor. He listed $2.13 and $2.27 as XRP support and $2.92 and $3.99 as objectives. A recovery of the $2.92 Fib level shows the coin is set to rise.

According to CoinMarketCap, XRP is selling at $2.30, down nearly 12% in 24 hours. $XRP $BTC $ETH

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