The Ripple and XRP situation remains uncertain as prices continue to decline. However, a recent analysis by cryptocurrency analyst Jonathan Carter has caught attention and could shift the focus back to the cryptocurrency.
Carter, who shared his insights on X, predicted that the price of XRP could potentially reach $1.68. He pointed out that the XRP price had rebounded from the lower trend line of a symmetrical triangle on the weekly chart. If the breakout above the triangle is successful, it could indicate a rise for the crypto token, with mid-term targets set at $0.93 and $1.68.
Despite the downward trend in the market, Carter’s forecast maintains optimism for a potential rise in the near future. Another market analyst, known as XRP Captain, shares a similar view and recently indicated a potential breakout in XRP. Like Carter, XRP Captain also highlighted the symmetrical triangle formation on the XRP chart, but set a much larger target for XRP, suggesting a possible rise above $2.6.
Analyst Jaydee responded to XRP Captain’s post, acknowledging the potential for growth. Meanwhile, crypto analyst Egrag Crypto believes that XRP’s price could experience triple-digit growth soon. He expects a minor increase up to $1.5 and a significant rise up to $5.89. Egrag even suggests that this macro growth could be so significant that XRP’s price could reach double digits.
As of now, XRP is trading at $0.52, representing a slight decrease of less than 1% over the past 24 hours, according to data from 21milyon.com.
Disclaimer: This article does not provide investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
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