The status of Ripple and its associated digital currency XRP remains uncertain due to recent price drops. An analyst’s recent assessment of XRP could draw attention back to the digital asset.
XRP Coin Analysis
Recently, cryptocurrency analyst Jonathan Carter provided insights on XRP, suggesting that the price of XRP might reach $1.68. However, Carter also pointed out potential challenges that could hinder the growth of the cryptocurrency.
Carter shared a post highlighting that XRP’s price had rebounded from a lower trend line of a symmetrical triangle on the weekly chart. If a successful breakout from the triangle occurs, it could indicate an upsurge in the crypto token price, with projected mid-term targets at $0.93 and $1.68.
Despite a bearish trend in the market, Carter’s analysis provides an optimistic outlook for a potential upward movement in XRP.
Another market analyst named XRP Captain echoes a similar sentiment, suggesting a possible breakout in XRP in a recent post.
Much like Jonathan Carter, XRP Captain also pointed out a symmetrical triangle formation on the XRP chart, projecting a higher target for the digital asset.
XRP Captain hinted at the possibility of XRP surpassing $2.6. Analyst Jaydee responded to XRP Captain’s post with encouraging words.
XRP Price Expectations
Crypto analyst Egrag Crypto recently mentioned that XRP’s price could see a growth in triple digits soon.
Egrag predicts a minor increase up to $1.5 and a significant surge up to $5.89. The analyst believes that the substantial growth could lead XRP’s price into double-digit figures.
Based on data from 21milyon.com, XRP was trading at $0.52, showing a slight decrease of less than 1% over the last 24 hours.
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