Is a Ripple (XRP) ‘Mega Pump’ on Its Way? This Analyst Thinks so
TL;DR
- XRP Price Trends: XRP dipped to $0.59 in November, slightly recovered to $0.61, but remains below its early November price of $0.70.
- Analysts’ Optimism: EGRAG CRYPTO predicts a potential price increase to $0.85 for XRP, while Dark Defender forecasts a target of $0.87-$1.05.
- Influences on Market: The introduction of crypto ETFs in the US is expected to positively impact the digital asset sector.
‘Stay Steady’
The price of XRP has recently resonated with the overall market correction, plunging to as low as $0.59 (per CoinGecko’s data) on November 18. Despite reclaiming some ground in the following days and reaching its current level of approximately $0.61, Ripple’s coin is still far from its $0.70 mark at the beginning of November.
Nonetheless, some cryptocurrency analysts remain optimistic that XRP would spike in the near future. One example is the popular X (Twitter) user – EGRAG CRYPTO. They believe the asset could experience a “mega pump” should it overcome three important levels, described as “robust support,” “firm support range,” and “support threshold.”
The analyst thinks XRP might soar by 40% and hit $0.85 in the following months. On the other hand, they warned investors to enter the ecosystem with a dose of caution:
“Anticipate the forthcoming Mega Pump, yet exercise caution by strategically allocating portions of your holdings.”
Those willing to dive deeper into the matter and explore XRP’s potential price performance in the remaining quarter of 2023 could take a look at our video below:
How About Surpassing the $1 Mark?
Another analyst who laid out a bullish XRP prediction is the X user Dark Defender. They recently argued that the asset is poised to reach the short-term target of $0.87-$1.05.
Subsequently, Dark Defender forecasted that certain crypto ETFs would soon see the light of day in the United States, which could be a highly positive factor for the entire digital asset sector.
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