In recent weeks, XRP prices have remained pressured, stabilizing around $2.80. Despite this, some analysts are confident that the current market may present one of the final opportunities to acquire the asset.
Current State of XRP
XRP continues to be under pressure amid the overall negative dynamics in the cryptocurrency market. The market has entered a stage of consolidation, where XRP fell to $2.69 and then slightly recovered to $2.80. Over the past month, it recorded a 6.2% decline. The situation in the market, especially Bitcoin's fall from a record $124,457, has had a significant impact on most cryptocurrencies, including XRP.
Analysts’ Outlook on XRP Future
Analysts are sharing optimistic forecasts for XRP based on various technical indicators. One analyst, Ripple Van Winkle, noted that XRP has declined by 25% since July, but the accumulation by large investors could signal a market bottom. He pointed out the support level at $2.70 and the potential for prices to rise to $3.70 and above. Another analyst, Dark Defender, uses Elliott Wave theory to project a possible increase to $4.39 if XRP maintains support at $2.85.
Market and Investor Opinions
Despite confident forecasts from analysts, there is a division among market participants. Some investors have expressed doubt regarding the likelihood of an imminent surge, noting that previous warnings about the 'last chance' to buy XRP at low prices have not led to significant price appreciation. Conversely, many believe that XRP's extended consolidation may be setting the stage for a broader upward trend, although skepticism remains regarding potential further corrections.
The discussion surrounding XRP highlights growing expectations of a potential breakout after weeks of stagnation. Analysts point to technical support and accumulation among large investors as evidence of prospective upside, but market participants remain cautious in their forecasts.
