Analyst Predicts XRP Needs Final Shakeout Before $10 Rally
Crypto Insight UK reiterates its forecast that XRP must undergo one final drop before reaching a target of $10. The analyst highlights the presence of significant liquidity below current prices, which needs to be cleared for an upward movement.
XRP Needs One Last Flush
- XRP did not reach the expected low levels; further downside is anticipated.
- The analyst has bids set at approximately $2.01 and $1.95, which he expects will be tested as leveraged longs capitulate.
- A rally towards $10 is expected only after this “final flush.”
- The broader market shows strength but has not yet led to sustained altcoin breakouts.
- The analyst noted macro-political events might accelerate the necessary shakeout.
- For Ethereum, high open interest in futures suggests institutions are hedging, which could lead to volatility if ETH surpasses $2,800.
- Bitcoin has entered a preferred liquidity zone above $100,000; dominance trends may indicate an impending altcoin cycle.
- Current XRP price is $2.17, with expectations of a bullish divergence forming post-liquidity clearance.
- The analyst believes XRP could exceed its 2021 peak of $3.80 and reach the $10 target.
