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May 22, 2024
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XRP Price Prediction: Analyst Anticipates Dip to $0.28, Then Surge to $1

The post XRP Price Prediction: Analyst Anticipates Dip to $0.28, Then Surge to $1 appeared first on Coinpedia Fintech News

XRP stands at a pivotal crossroads. A comprehensive assessment by Poseidon, a well-acknowledged crypto pundit, offers insights into the coin’s future trajectory. With the recent turbulence, where does XRP go from here?

Let’s break down Poseidon’s prediction and analysis.

A Look Back at XRP’s Performance

In its heyday, XRP stood out among its peers, experiencing a meteoric rise, particularly during market bubbles. However, a lawsuit against the coin prompted a surge that was not sustained due to a lack of buyers.

The recent erratic behavior of XRP points to two key levels: $0.40 (the midpoint) and $0.28 (the lower limit). Poseidon predicts that XRP will soon dip to $0.40.

A Glimpse of the Weekly Chart

The weekly chart shows XRP’s sudden ascent, which was primarily driven by news events. A continued bullish trend would have seen the coin settle above its high range, but it appears to have stalled due to a lack of buyers.

The current scenario indicates a potential drop to the $0.40 level. After that, a slight surge is expected, followed by a slump to the $0.28 level. Poseidon highlights the volatile nature of the crypto market by saying, “This market is unforgiving.”

Read More: XRP Price in Turmoil After SEC vs. Ripple Verdict: Does It Get Better From Here?

Narrowing Down: XRP’s Daily Outlook

The daily chart shows a series of rapid hikes followed by slower, more painful declines. The swift fall from its peak has left a gap, creating a window of uncertainty.

Poseidon says that if XRP dips below $0.28, he would reconsider investing, with the goal of a 15-fold return on a bullish run. While there is no certainty about its all-time high, the odds of XRP reaching $1 in a favorable bull market remain promising.

At present, with XRP trading at $0.50 and showing bearish signs both daily and weekly, the market awaits its next move.

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