$13 XRP? Analyst Says It’s Closer Than You Think
Recently, XRP has surged in value, reaching a three-year high of $1.27. The coin is currently trading at $1.09 Continued growth of 80% every week, Many investors are considering whether this marks the beginning of a new bull market.
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Still, seasoned analysts are unsure. She warned that XRP has shown bullish potential; however, a correction is likely to occur before the altcoin makes its next big move.
XRP hits 3-year high – what’s next?
The recent rise in XRP price to $1.26 has piqued the interest of traders, indicating a renewed optimism in the market. For the first time in years, altcoins Over $1 thresholda feat that many thought was unattainable.
Despite the encouraging trends, CasiTrades advises caution. She expects altcoins to experience a temporary dip before resuming their upward trajectory.
XRP is currently trading at $1.09, down approximately 3.5% from its weekend peak. This suggests there may be a short cool-down period. This decline may indicate that the market anticipates a more favorable entry point before attempting to increase prices.
Anticipate “appropriate entry points”
CasiTrades has identified several key price levels for potential buying. She recommends keeping an eye on the 0.382 Fibonacci retracement level at $0.98. If the price falls further, the $0.5 level at $0.88 could also be a good opportunity to enter the altcoin before the price recovers.
These retracement levels indicate that XRP is currently at the typical consolidation stage Following a big move up, investors are given the opportunity to enter the market before the next big move up.
While the correction is expected to be temporary, it presents a significant opportunity for those who have been hesitant to invest at better prices.
I’m back with an important update #ripplecoin!
Exciting times are ahead, but a reminder to avoid chasing price action. Wait for a pullback to key levels (ABC, W4) and let the market structure confirm your entry.
This is what I see –
Strong confirmation that the lows are in ✅ and… pic.twitter.com/16mb8ZmTDo— CasiTrades 🔥 (@CasiTrades) November 18, 2024
XRP: Bullish outlook for the long term
Despite expectations of a decline, CasiTrades remains optimistic about XRP’s long-term potential. She believes altcoins could surge higher once the market stabilizes and establishes new support levels.
If market conditions remain consistent, XRP price targets range from $8 to $13, indicating a firmly bullish outlook.
The analyst said her long-term outlook was unchanged. “The target of $8-$13 is not that far off now,” she added.
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legal support
XRP, meanwhile, has recently received a boost from the law. SEC Accused of Overreaching in Cryptocurrency Sector 18 U.S. states filed suit Submitted last Thursday.
Although the lawsuit does not explicitly mention XRP, the case has the potential to promote a more supportive regulatory environment for crypto assets, which could be beneficial to Ripple and XRP.
A pullback is likely in the near future. However, given the solid support and high bullish sentiment, XRP’s future looks promising for those who treat it right.
Featured images from DALL-E, charts from TradingView
