However, crypto expert MadWhale believes the current downtrend is only temporary, and XRP still has significant potential for growth. In a detailed analysis on TradingView, MadWhale highlighted the cryptocurrency’s strong trading volume and long-term underperformance compared to other digital assets. XRP has remained relatively stagnant while many other tokens surged, making it ripe for a breakout. According to the analyst, both fundamental and technical indicators suggest a positive future for XRP, with the asset poised to reach its all-time high (ATH) once again and potentially surpass it.
Following a two-week period of rapid gains, $XRP has recently cooled off, retracing in the last 24 hours. This correction was anticipated by well-known analyst Dark Defender, who predicted that XRP would trade within a range of $2.13 to $2.92 for a brief period before continuing its climb. Dark Defender has set a target for XRP to reach $3.9993, just below its ATH of $3.8, which would establish a new high for the token. This forecast aligns with the broader expectation that XRP’s bullish trend will continue, with many analysts predicting new highs as part of the ongoing market cycle.
Egrag Crypto, another expert in the field, shares an even more bullish outlook, forecasting that XRP could reach double digits within this market cycle. This optimistic view is supported by technical signals, such as #XRP’s movement through Fibonacci levels. According to Dark Defender, the current pullback was predicted and is part of the natural market cycle. He further emphasized key price levels to watch, including support at $2.13 and $2.27, while resistance is seen at $2.92 and $3.99. A strong recovery above the $2.92 level would confirm the next phase of the rally, pushing XRP closer to its higher objectives.
At the time of writing, #XRP is trading at $2.30, showing a near 12% decline in the last 24 hours. Despite the short-term dip, analysts remain confident that XRP’s long-term prospects are strong. The current correction presents a potential buying opportunity for traders who believe in the cryptocurrency’s future potential. With market sentiment still bullish, XRP is well-positioned to climb higher, with many experts predicting substantial gains in the near future.