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XRPUSD. Source: TradingView
Rippleās cross-border token went on a massive run after the US elections, skyrocketing by triple digits at one point and peaking close to $3. All of these gains came in the span of a few weeks, but the asset lost momentum at the start of December.
It tumbled hard on several occasions in the following weeks, with the latest decline to under $2 transpiring last Monday ā December 30. This came during the most recent market-wide correction.
However, the popular crypto asset reacted well to this decline and shot up by over 20% since then, currently sitting at around $2.45. Consequently, XRP has regained its spot as the third-largest cryptocurrency by market cap by surpassing Tetherās USDT.
According to analyst Ali Martinez, XRP still stands below a steep resistance level of $2.73, which has stopped its price ascent on a couple of occasions during this rally. If the asset fails to overcome it soon, it could slump back to $2.05.
However, Martinez actually believes that such a scenario could be a blessing in disguise for XRP, which could catapult it toward a fresh all-time high above $3.4 (CoinGecko data) and all the way up to $11.
Itās safe to say that $11 sounds quite extraordinary for XRP. Such a price tag would put the assetās market cap at well over $600 billion, which would help it top Ethereum in that regard. Although this might sound plausible under a friendlier Trump administration, itās still a long way away and falls under the category of exaggerated price predictions.
The post From $2 to $11: Popular Analyst Maps Out Rippleās (XRP) Next Big Move appeared first on CryptoPotato.
R;- XRP rebounded from its most recent price slip below $2, but the asset might not be out of the woods yet.
- However, a popular crypto analyst suggested that a potential decline toward that level again could be beneficial for XRPās long-term price movements.
XRPUSD. Source: TradingView
Rippleās cross-border token went on a massive run after the US elections, skyrocketing by triple digits at one point and peaking close to $3. All of these gains came in the span of a few weeks, but the asset lost momentum at the start of December.
It tumbled hard on several occasions in the following weeks, with the latest decline to under $2 transpiring last Monday ā December 30. This came during the most recent market-wide correction.
However, the popular crypto asset reacted well to this decline and shot up by over 20% since then, currently sitting at around $2.45. Consequently, XRP has regained its spot as the third-largest cryptocurrency by market cap by surpassing Tetherās USDT.
According to analyst Ali Martinez, XRP still stands below a steep resistance level of $2.73, which has stopped its price ascent on a couple of occasions during this rally. If the asset fails to overcome it soon, it could slump back to $2.05.
However, Martinez actually believes that such a scenario could be a blessing in disguise for XRP, which could catapult it toward a fresh all-time high above $3.4 (CoinGecko data) and all the way up to $11.
Itās safe to say that $11 sounds quite extraordinary for XRP. Such a price tag would put the assetās market cap at well over $600 billion, which would help it top Ethereum in that regard. Although this might sound plausible under a friendlier Trump administration, itās still a long way away and falls under the category of exaggerated price predictions.
The post From $2 to $11: Popular Analyst Maps Out Rippleās (XRP) Next Big Move appeared first on CryptoPotato.
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