Analysts predict that XRP may experience one final dip before an anticipated significant rise. Scenarios of potential price changes and comparisons with other cryptocurrencies are discussed.
Analysis of Current XRP Situation
According to crypto analyst Cryptoinsightuk, XRP is approaching a critical structure that could trigger a strong reversal after a brief decline. He noted that the ideal zone for completing the 'right shoulder' formation is around $1.89. A drop to $1.85 is expected, and if further declines occur, XRP could fall to $1.73 or even $1.55. However, the analyst stressed that these figures are not his desired targets.
Connection to Bitcoin and Ethereum Movements
Cryptoinsightuk drew parallels between XRP's movement and current trends in Bitcoin and Ethereum, which are also undergoing similar corrective structures. He observed that Bitcoin briefly recovered from $98,200, while the actual reversal zone lies between $92,000 and $95,000. Similarly, for Ethereum, the analyst forecasts a potential dip to about $1,996 before another rise.
Analysts' Expectations and Forecasts
The analyst noted that if Bitcoin's dominance weakens, it could provide favorable conditions for altcoins, positively affecting XRP's movement. Cryptoinsightuk's primary target zone is within the range of $11 to $12, whereas his peers estimate this area between $8 and $13.
According to forecasts, XRP is nearing the end of its correction, and analysts are awaiting confirmation of a bottom that could lead to a rise toward the $12 mark.
