XRP dropped about 50% from $0.7 to $0.42. It is now understood to be a fake breakdown, and people in the community are now anticipating a spike in the listed value. It may reach a peak of $1.4 in the near future. The end of the long-term consolidation is in sight. If a bull run starts, XRP will experience a thrilling journey.
After hitting its crash bottom, the cryptocurrency is presently trading over $0.50. The last 24 hours have seen a further decrease of 5.08%. This is further supported by the market cap, which shows a favorable trend with only a 24-hour volume. It is stated that the current pattern is a duplicate of the one that was constructed in 2023, specifically between August and November of last year.
The movement of whales over the past two weeks supports a theory that predicts XRP’s growth. Over the course of 14 days, wallets with between 10 million and 100 million XRP coins are thought to have added 30 million more. Additionally, 600 million tokens moved. Whales are attributed with all of this, probably causing the bull run.
With a 100% increase, XRP should reach the psychological $1.4 milestone; a break at $0.70 is anticipated ultimately. With a decrease of 5.02% over the last 24 hours and an increase of 4.91% over the last seven days, the XRP/USD pair is presently trading at $0.5183. According to price predictions for XRP, the token will expire in 2024 at around $2.
Although there have been discussions on its native ETF product, they have not gained much traction recently. The fact that XRP is outside the $2.16 resistance zone, which it ought to have reached by now, is another factor contributing to the aggressive nature of the stated milestone.
The trading volume of XRP has significantly decreased, indicating that not everyone is a fan of the coin. Along with meme currencies and AI tokens, altcoins are undoubtedly the talk of the town. But ether dominates other cryptocurrencies, and meme coins are only now starting to gain traction. Blockchain technology and artificial intelligence continue to inspire AI tokens.
Prominent analysts have made their predictions, projecting that XRP may see a bull run. Because of the volatility, a rough timeframe was not created, although it may soon present an entry into the phase. First comes $0.600 as the early resistance level, then $0.700. The $1 test for the support will come next.
XRP may be poised for a 70% breakout as the extended consolidation approaches its conclusion. It’s still too early to create a detailed plan.