Crypto analysts are predicting a potential 40% upside for XRP price in the near future, despite the current market pullback. ProjectSyndicate, in a recent TradingView post, noted that XRP’s 4-hour chart indicates a bullish outlook, with the ideal buy and hold level around $2.
The analyst suggests that the current correction, following XRP’s retest of its all-time high, presents a low-risk buying opportunity. With the pullback not yet complete, ProjectSyndicate expects XRP to drop to as low as $2 before witnessing the predicted 40% gains, potentially reaching $2.80.
XRP has been one of the hardest hit among the major cryptocurrencies during the current market downturn, losing its position as the third-largest crypto by market cap to USDT. However, several analysts, including ColdBloodedCharter, see this as an excellent accumulation opportunity, highlighting key support levels at $2.50, $2.25-$2.30, and $1.90-$2.
CasiTrades, another prominent analyst, suggests that this pullback could be the final low before a significant price liftoff. According to their analysis, XRP is in the fifth wave of an ABC pattern, with the sell-off extending the asset past its target. If this pattern completes, it could signal the end of the correction and the beginning of a massive Wave 3 up, potentially sending XRP past its previous all-time highs with minimal resistance.
As the market sentiment remains bearish, XRP’s ability to hold key support levels and maintain its bullish structure will be crucial in determining its short-term price action. Investors and traders should keep a close eye on these levels and consider the potential for accumulation as the asset prepares for its next major move.
Tags: XRP price prediction, XRP technical analysis, crypto market analysis, altcoin investing, cryptocurrency trading
Source: https://www.newsbtc.com/analysis/xrp/xrp-price-eyes-40-gains/