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From $2 to $11: Popular Analyst Maps Out Ripple’s (XRP) Next Big Move
Ripple’s XRP has been making headlines lately, and it appears that the popular cryptocurrency is not done yet. According to a well-known analyst, Ali Martinez, XRP could potentially drop as low as $2.05 before its next major move upwards.
The past few weeks have been eventful for XRP, which plummeted below $2 on December 30. However, it has since rebounded by over 20%, currently trading at around $2.45. This sudden surge in price has allowed the cryptocurrency to reclaim its spot as the third-largest asset by market capitalization, surpassing Tether’s USDT.
While this news may have been a relief for XRP enthusiasts, some uncertainty still surrounds the cryptocurrency’s short-term future. According to Martinez, XRP is still consolidating within the pennant of a massive bull pennant pattern. This means that until the asset breaks through the $2.73 resistance level, a pullback to the aforementioned $2.05 remains a possibility.
However, instead of viewing this potential decline as a negative event, some analysts believe it could actually be a blessing in disguise for XRP. If the cryptocurrency were to drop back down to $2.05, it could then set its sights on an entirely new all-time high above $3.4 and potentially even reach as high as $11.
While this prediction may seem ambitious, it highlights the tremendous potential that still remains within the cryptocurrency market. With the right catalysts in place, XRP could make a major move upwards, further solidifying its position as a major player in the space.
In conclusion, XRP’s next big move is likely to be a significant one. Whether this will be a drop back down to $2.05 or an explosive push above $3.4 remains to be seen.
Source: cryptopotato.com
