Analyst Says XRP’s Slump is Just a ‘Coffee Break’ – Here’s Why
Main Idea
The crypto market, particularly XRP, experienced a significant pullback, but some analysts remain optimistic about its future performance.
Key Points
1. XRP's price dropped by double-digits, briefly falling below $3, but has since recovered to around $3.13.
2. Analyst John Squire views the correction as minor, calling it 'a coffee break,' and predicts short-term and year-end targets of $4.10 and $8-$12, respectively.
3. Whales have purchased over 280 million XRP in the last ten days, indicating potential confidence in the asset.
4. The TD Sequential indicator has signaled a buy for XRP, suggesting possible future price increases.
5. Despite the pullback, some analysts believe the real upward movement for XRP has not yet begun, citing legal clarity and potential ETFs as catalysts.
Description
TL;DR Popular analysts consider XRP’s price drop a normal pullback, suggesting targets between $4 and $12 remain in play. Whale accumulation of over 280 million XRP and a fresh buy signal from the TD Sequential indicator hint that a new rally could soon begin. ‘Stay Calm, HODL Tight’ The crypto market has lost some steam over the past 24 hours, with Ripple’s XRP being among the biggest losers. Its price retreated by double-digits, briefly dropping below $3. The bulls, however, put the brakes on ...
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