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XRP Price Crash Was Predicted! Analyst Now Says $3 Target Is Next
The recent crash of the Ripple (XRP) price has been a topic of much debate and concern within the crypto community. The unexpected drop in value, which saw XRP fall to a new low, has left many investors and traders wondering what’s next for the cryptocurrency.
It has now been confirmed that this drop was not only predicted but also a part of a larger pattern that could potentially see XRP reach a target price of $3.
According to veteran trader CasiTrades, the recent crash was perfectly in line with their predictions. The analyst had previously marked the $2.01 support zone as a critical level for XRP, warning investors that any bounce from this point would be false if it didn’t confirm on higher timeframes.
As it has happened, XRP did drop straight to its $2.01 support zone, triggering panic and a sharp drop in value. The move was not unexpected by CasiTrades, who had warned of the impending price crash.
The question now is what happens next for XRP. While some are calling for a significant bounce from this point, it’s still too early to say whether this is a new trend reversal or simply a retracement.
That being said, if XRP can hold above its recent low and climb steadily higher, the next major resistance level to watch will be $3. This would signal a real trend change and potentially pave the way for a new rally in value.
However, it’s also important to note that the RSI index stands at 20.4, which means there is still no confirmation of a bigger trend change on higher timeframes. As such, investors are urged to exercise caution when considering any trades or investments involving XRP at this time.
Ultimately, only time will tell what happens next for XRP. But one thing is clear: the recent crash has left many investors feeling uncertain about the future prospects of the cryptocurrency.
In related news, Coinpedia’s editorial team invites you to explore our exclusive coverage on the latest market trends and analysis.
Source: coinpedia.org
