XRP Price Correction Expected as Analysts Predict Rally to $3.2
The XRP price has experienced a correction after reaching $2.9 this week, leading to speculation about the sustainability of the recent rally. Analyst MadWhale suggests that XRP still has potential for further upside movement.
Analyst Insights on XRP Price Target
In a TradingView post, MadWhale indicated that XRP is on track to reach $3.2. He pointed out the high trading volume and XRP's previous underperformance relative to other cryptocurrencies. This underperformance has resulted in a period of stagnation for XRP while other assets have gained significantly.
MadWhale believes this stagnation has created a compressed state, indicating a potential breakout. Both fundamental and technical analyses support a positive outlook, with strong upward potential visible on the charts. He anticipates XRP could revisit its all-time high (ATH) and possibly exceed it.
Recently, the XRP price retraced after a significant rally over the past weeks. Analyst Dark Defender predicted this correction, expecting XRP to trade between $2.13 and $2.92 before resuming an upward trend.
Dark Defender also maintains a bullish outlook, forecasting a rally to around $3.9993, which would establish a new ATH above the current $3.8. Additionally, Egrag Crypto noted that a bounce from $2.19 could lead to higher highs, suggesting XRP may reach double digits in this market cycle.
Pathway to $3.99
In his latest X post, Dark Defender updated projections for XRP’s climb toward $3.99. He confirmed that the recent correction was anticipated and indicated that sideways movements might continue for a while.
He highlighted critical levels to monitor during this phase: support at $2.13 and $2.27, with targets set at $2.92 and $3.99. A reclaim of the $2.92 level suggests readiness for an upward trajectory.
Currently, XRP is trading around $2.30, reflecting a decline of over 12% in the past 24 hours, according to CoinMarketCap data.
