TL;DR
- Analysts project XRP could hit new highs, with forecasts ranging from $4 to $9.
- However, one market observer envisioned a double-digit crash if the price fails to close above $4 by March 10.
New ATH Soon?
2025 saw Ripple‘s XRP make a strong start, with its price soaring nearly to $2.50 on the first day of January. However, the downward trend observed in the overall cryptocurrency market over the past few days has slowed down the momentum. On January 7, XRP briefly dipped as low as $2.23 and is currently valued at around $2.27, according to CoinGecko’s data.
Despite some analysts frequently monitoring the token’s price fluctuations believing a new surge might occur, it’s worth noting that a popular crypto enthusiast with over 400,000 followers, known as Crypto Bitlord, advised people to invest in XRP, referring to it as “the safest asset across all cryptocurrencies.
In addition, Matsby chimed in, expressing his anticipation for Ripple’s (XRP) valuation to reach a record-breaking peak of $9 in the coming days. He expressed that XRP is so bullish it hasn’t yet touched the daily Ichimoku cloud, indicating further potential growth.
The daily Ichimoku cloud is a useful tool for traders to spot trends, possible changes in direction, and levels where the price may find support or resistance. This tool brings together various factors like current market tendencies, rate of change, and predictions about the future.
More recent contributors to the industry include CRYPTOWZRD and veteran trader Peter Brandt. The former is confident that XRP’s price surge to $4 is unavoidable, while the latter anticipates its market capitalization could reach an astounding $500 billion.
Currently, excitement among XRP supporters has surged due to a recent meeting between the newly elected U.S. President, Donald Trump, and two top executives from Ripple – Brad Garlinghouse and Stuart Alderoty.
During dinner, the topics of conversation among the gentlemen remain unclear,
However, the crypto community swiftly offered some intriguing theories. Some of these hypotheses revolve around the possible expansion of Ripple and the ongoing progress within the regional digital currency market.
Something for the Bears
Despite a generally upbeat outlook on XRP, certain analysts predict a possible price plunge. For instance, the user X’s EGRAG CRYPTO has presented such an argument.
The analyst, who is known for his optimistic price forecasts regarding Ripple’s native token, has expressed that it could potentially surpass $4 and display a robust weekly chart pattern before March 10th. Failing to do so might lead to a significant drop in the token’s value by more than 70%.
The user of X predicts their forecast on the upcoming Lunar eclipse, scheduled for that time. EGRAG CRYPTO has stated that this celestial event historically precedes a correction in the crypto market. However, it’s important to note that there is no established economic reasoning to suggest that the next Lunar eclipse will cause volatility in the sector.
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2025-01-09 20:36