Over the weekend, the price of the cryptocurrency XRP fell sharply amid global political tensions, but experts continue to see growth opportunities.
XRP Price Drop Amid Market Turmoil
XRP experienced a sharp drop in price, falling to $1.95 on Sunday before recovering slightly above $2. This decline occurred amid escalating international tensions caused by US bombings in Iran.
Analysts' Forecasts and Key Support Levels
Analyst Egrag Crypto asserts that despite current volatility, XRP may show significant growth to $27 if key technical levels are broken in July. He noted that falling below the $1.75 mark could signal risks, but XRP remains above the critical Gaussian Channel level indicated on the weekly chart. 'Closing above the $2.33 level will be an important signal for resuming bullish momentum,' the analyst added.
Optimistic Prospects for XRP's Future
Egrag also believes that successfully maintaining key levels through June could trigger what he calls a 'Valhalla rally,' drawing attention to the target of $27 based on Fibonacci and wave theory. Fellow analyst Dark Defender shared similar views, highlighting that the support at $1.88 remains stable and predicting the possibility of rising above $3.50.
Thus, despite recent fluctuations and price drops, XRP still retains growth prospects, according to analysts, who emphasize the importance of monitoring key support and technical levels.
