Fake Ripple ETF News Stir the Market but XRP Price to Surpass $1 Anyways: Analyst
TL;DR
- XRP’s Recent Price Fluctuations: Ripple’s XRP experienced volatility, spiking to over $0.70 due to false news about BlackRock’s involvement, then retracting to around $0.65 once the information was debunked.
- Analyst Optimism: Despite the market turbulence, analysts like Dark Defender on Twitter remain bullish on XRP, maintaining a short-term target of $0.87-$1.05, bolstered by XRP closing above $0.6649.
- Upcoming Predictions for XRP: Dark Defender forecasts XRP could reach around $0.87 by November 19, provided it surpasses the $0.68 resistance level.
XRP Short-Term Target ‘Stays the Same’
Ripple’s native token – XRP – has been on a rollercoaster in the past few days. Its price briefly soared to over $0.70 on November 13, prompted by the fake news that the world’s largest digital asset manager – BlackRock – had registered the iShares XRP Trust in Delaware. The asset’s valuation quickly retraced to around $0.65 once it turned out that the information was false.
Despite the turbulence, some analysts remain optimistic that XRP could soon chart a new yearly peak. One such person is the X (Twitter) user Dark Defender.
“The good news is that XRP closed the daily candle above $0.6649 and continues to stay above it today. Short-term target of $0.87-$1.05 stays the same and gets stronger now,” they said.
The analyst further maintained that crypto ETFs would soon see the light of day in America since “there is no smoke without fire.” The launch of such a product in the States is considered a highly positive factor that could trigger a bull run in the entire digital asset market.
XRP Ready to Jump This Week?
Dark Defender recently laid out another prediction, according to which XRP might rise to approximately $0.87 on November 19. To do so, it must overcome the $0.68 mark, which the analyst described as “small resistance.”
Those curious to check how Ripple’s token might perform in the remaining quarter of the ongoing year could take a look at our dedicated video below:
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