The XRP price has recently experienced a significant correction after reaching a high of $2.9, causing speculation about the future of its rally. However, crypto analysts such as MadWhale believe that XRP still has room for growth and could potentially reach $3.2. MadWhale attributes this potential for growth to XRP’s significant trading volume and its prolonged underperformance compared to other cryptocurrencies.
MadWhale also points out that XRP’s extended period of stagnation has left the stock highly compressed and ready for a breakout. Fundamental and technical analysis suggest a favorable outlook for XRP, with strong upward potential indicated on the charts. MadWhale anticipates that XRP could even revisit its all-time high and potentially reach higher targets in the future.
Following a parabolic rally in the last couple of weeks, the XRP price has cooled off and retraced, as predicted by crypto analyst Dark Defender. Dark Defender expects XRP to trade within a range of $2.13 to $2.92 for a few days before continuing its upward trend. Like MadWhale, Dark Defender also holds a bullish outlook for XRP, predicting a rally to the mid-target level of $3.9993, marking a new all-time high for the cryptocurrency.
Another analyst, Egrag Crypto, has stated that a bounce from $2.19 could lead XRP to higher highs and allow it to continue its bullish momentum. Egrag Crypto is confident that XRP will rally to double digits in this market cycle. Meanwhile, Dark Defender has provided an update on XRP’s projected rally to $3.99, noting that the cryptocurrency has been moving through Fibonacci levels and that the recent correction was expected.
Key support levels for XRP, according to Dark Defender, are $2.13 and $2.27, while targets for the cryptocurrency are set at $2.92 and $3.99. Reclaiming the $2.92 target would indicate that XRP is ready to resume its upward trend. Despite a 12% drop in the last 24 hours and trading at around $2.30 at the time of writing, there is optimism among analysts that XRP still has the potential for growth and could reach new highs in the future.
