With its peak of $2.9 reached earlier this week, XRP’s correction has gotten some people wondering how durable the rally really was. Although crypto analysts are still optimistic, crypto analysts anticipate the current pullback will prove to be only temporary, as the XRP has further upside potential, with some predicting $3.2 on the way.
In a Trading View post, analyst Mad Whale doled out a bleak outlook when the XRP is underperformed and the cryptocurrency’s trading volume surpasses $500 million. XRP remained passive for quite some time even though many of the other cryptocurrencies were gaining significantly.
XRP Set For Bullish Momentum
MadWhale however, says this stagnation has left Ripple in a ‘compressed’ state, ready for a breakout. The analyst can combine technical and fundamental analysis and expect Ripple to jump back to its all-time high (ATH) in $3.8 over, with a possibility to complete a high over the ATH.
Analyst Dark Defender predicted that the price correction which Ripple experienced in the past 24 hours would happen. Ripple is poised to move swiftly through a short range between $2.13 and $2.92, he predicted. In addition, the Dark Defender also announced a brand new ATH target of $3.99, which would be a huge mark for the cryptocurrency.
Taking those views in line here, crypto analyst Egrag Crypto thinks that a bounce from the $2.19 level will help Ripple regain its bullish momentum and rise to higher levels. Ripple, specifically, is a very strong call for a double digit rally within this market cycle, says Egrag.
Ripple is currently trading at $2.30, down more than 12% over the past 24 hours. Despite the short term correction, analysts maintain that Ripple has what it takes to grow. Support levels to watch are $2.13 and $2.27, resistance $2.92and $3.99. If XRP could reclaim $2.92, it would be the continuation of the current upwards trend to $3.2.
