NewsBTC
6 December 2024
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Analysts Predict XRP Could Reach $3 Despite Recent Price Dip

Analysts predict a potential price surge for XRP, with some forecasting it could reach $3. The ongoing digital asset bull market has seen many cryptocurrencies attain all-time highs, contributing to this optimistic outlook.

XRP Could Hit $3

Market experts remain confident that XRP is on track to reach $3 per coin. They note that recent price pullbacks have not diminished investor enthusiasm, which remains positive despite the dip.

Pseudonymous analyst WallStreetBets highlighted the importance of maintaining a bullish stance on XRP, suggesting that the coin's current fluctuations precede a significant rise towards the $3 target.

Precursor To New Heights

Analyst CW believes the current XRP pullback may signal future gains, predicting a rise to $3.75 after the correction concludes.

WallStreetBets noted that XRP's recent slip to around $2 may present an opportunity for new investors to enter the market.

“XRP took a step back today, allowing anyone who missed the train to have a second chance,” WallStreetBets explained.

Recent data indicates that XRP fell nearly 16% over three days and is currently trading at $2.3. Despite this decline, analysts remain optimistic, viewing the pullback as preparation for a sustained upward trend.

Getting Through The Resistance Level

Market observer Dom commented that reaching the $3 resistance level would require gradual progress. He noted that XRP's current behavior aligns with his previous predictions of consolidation and range formation.

Other analysts compared XRP’s price rally to the explosive growth seen in 2017, forecasting a rise to $2, followed by a pullback, before continuing toward a peak that could potentially reach $10.

Featured image from DALL-E, chart from TradingView