Expert Says XRP Top is in When Everyone’s Sure XRP Can’t Fall Below $10
CryptoBull, a well-known chartist, predicts potential XRP price movements amid current bearish pressure, referencing possible capitulation similar to March 2020 before recovery. He suggests XRP could rally past $10, possibly reaching $11, $15, or $30, but did not specify a precise floor price. Another analyst, DustyBC, predicts XRP might correct further to $2 or lower before a recovery to $3.5.
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Analyst's Perspective on XRP Price Movement
A market analyst, CryptoBull, has shared his projection regarding how XRP’s price may evolve. Known for his consistently bullish stance on XRP, he outlined what he envisions as the sequence of events that might unfold, especially as market uncertainty currently clouds the scene. CryptoBull highlighted that the market is surrounded by overwhelmingly bullish sentiments, which he believes could cause price movements to culminate in a market top.
Recent XRP Price Trends
Since the Oct. 27 peak at $2.69, XRP has been under bearish pressure. After a modest recovery at the end of October, XRP encountered resistance, leading to a major 8.66% price crash on Nov. 3—its largest single-day drop since the Oct. 10 event. According to CryptoBull, the XRP market is displaying signs similar to previous periods of massive capitulation, akin to the events that preceded the $0.11 low in March 2020.
Projection of a Market Top
CryptoBull provided insights into how bull market tops can be identified. He suggested that volume and prices would begin rising, signaling an imminent recovery. Despite choosing not to specify an exact price target, CryptoBull stated that overwhelmingly bullish sentiment—evident when investors believe XRP will never fall below $10—might signal the arrival of a market top. He further speculated that XRP could rally to levels such as $11, $15, or even $30.
Past Predictions and Price Scenarios
Interestingly, CryptoBull had earlier predicted in August that XRP might rise to between $23 and $30 by December. Although he refrained from specifying the price top in his latest commentary, using historical bear-cycle crash patterns (a typical 70% retracement), the analyst theorized that a $33 peak could align with such market behavior.
DustyBC's XRP Price Analysis
DustyBC, another market analyst, recently presented his perspective on XRP’s potential movements. He suggested that XRP could correct further from its current price, potentially dropping to $2 or lower. However, he also mentioned that, following such a correction, XRP could recover and rally to $3.5. DustyBC's technical analysis adds an additional layer of insight into the possible paths for XRP in the near term.