TL;DR
- Ripple’s XRP dropped by 20% following a market downturn, yet some analysts see this as a buying opportunity.
Several other optimistic predictions indicate a bullish outlook for the asset, with potential significant appreciation in its value expected soon.
‘XRP Dips For Buying, Not For Crying’
On April 14, there was a significant drop in the value of cryptocurrencies, causing their total market value to decrease to around $2.4 trillion. According to CryptoPotato’s report, this downturn led to numerous liquidations worth millions of dollars, primarily affecting those who had taken long positions.
Ripple’s XRP is among the notable losers in the past week, nosediving by 20% to around $0.48 (per CoinGecko’s data).
Despite some analysts remaining unperturbed, seeing this as a chance to buy at a lower price, X user EGRAG CRYPTO expressed that “dips in XRP are for buying, not for mourning.”
Before the market drop, an analyst pointed out that Ripple’s native token was in a precarious position, sandwiched between bullish and bearish trends. According to EGRAG CRYPTO, this asset had been consolidating since August 2023, which they viewed as a positive sign of stability.
“Stay steady, XRP is poised to ignite like a rocket,” the analyst concluded.
The Previous Forecasts
EGRAG CRYPTO made another comment earlier this week, implying that XRP‘s price trend has taken the shape of what is called the “three camel humps” pattern. According to them, surpassing the significant resistance level at $0.75 could trigger a “bullish surge,” potentially driving the price up to the estimated range of $1 to $1.30.
Despite the pessimistic outlook, Dark Defender remained hopeful. He believed that XRP had hit its bottom and predicted an imminent increase in its value relative to Bitcoin.
The most optimistic outlooks were shared by Mikybull Crypto, an X user, and DIY Investing, a YouTube creator. Mikybull believed that XRP was on the verge of a significant price increase, aiming for $4. DIY Investing, on the other hand, was convinced that the token’s price was poised to reach a new peak.
For those eager to discover some crucial indicators suggesting a potential massive surge in value for an asset this year, please have a look at the video we’ve prepared specifically for you below.
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2024-04-15 04:10