NewsBTC
19 hour ago
1 0

Gemini Poll Shows 73% Expect XRP to Stay Below $2 Year-End

XRP investors are adopting a bearish stance as the year-end approaches, expecting XRP to remain below $2.

Key Insights

  • A Gemini poll indicates 73% of investors predict XRP will finish between $1.50 and $2.00.
  • Market sentiment was previously more optimistic, with 38% expecting XRP to reach $2.00-$2.50, but this has decreased to 28%.
  • Only about 4% foresee XRP exceeding $2.50, indicating low confidence in a significant rally.
  • The percentage predicting an XRP drop below $1.50 rose slightly to 7%.

Market Dynamics

  • Futures data shows aggressive sell orders, while ETF accumulation cannot offset profit-taking activities.
  • Realized gains have been secured by early investors, selling at around $2.00 for significant profits.
  • Lack of dip-buying support maintains XRP's price in the $1.7-$1.8 range.
  • Increased supply from long-term holders creates resistance without new demand.

XRP

Currently trading at $1.830, XRP has seen a year-to-date decline of 15%, aligning with broader market trends.