The recent sharp decline in the cryptocurrency market caught many traders off guard, including XRP holders. However, analyst Crypto Bitlord had predicted this downfall.
Cryptocurrency Market in Unpredictable State
The cryptocurrency market has experienced a sharp decline, surprising many traders. XRP dropped from over $3.5 to a low of $2.99, while Bitcoin also fell from over $120,000 to below $118,000.
Analyst's New Prediction for Cryptocurrency Growth
Crypto Bitlord, a seasoned investor active since 2011, stated that there is 'about to be a big pump in crypto.' Though he did not specify which assets might surge, many traders are looking to XRP as a primary candidate.
Technical Analysis of XRP and Its Prospects
Technical analysis suggests that XRP, currently trading at $3.21, shows signs of recovery. Professional analysts noted a 'cup and handle' pattern on its chart, which could target a price of $7 despite current market volatility.
The market situation remains tense, and traders are keenly watching developments. If XRP can bounce back and hold above the $3.5 level, it could validate the optimistic expectations set by analysts.
