January 24, 2024 at 03:15 AM GST



updated:
January 24, 2024 at 02:33 AM



2 mins read



News

  • Analyst Jaydee suggests XRP could reach $20 in the next bull market with a structural break on charts and market cap considerations.
  • XRP’s price is expected to decline further, potentially reaching a bottom between $0.34 and $0.45 before a significant upward move.
  • Despite short-term bearish predictions, analysts foresee positive developments for XRP, including a potential “massive breakout” in March.

XRP is becoming the focal point of speculative discussions among analysts predicting significant price movements. Crypto analyst Jaydee has raised eyebrows with a bold forecast, suggesting that XRP could soar to $20 during the next bull market. 


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Jaydee emphasizes the importance of a structural break on the charts and considers market cap as a key marker for this ambitious prediction. On the flip side, analysts foresee a short-term downturn for XRP’s price. 

Egrag Crypto points to a potentially bullish monthly timeframe but warns of a brewing pump that may spook weak hands, indicating a possible dip before an upward surge. XRP currently stands at a critical zone, and a weekly close below $0.34 could trigger a downturn. Conversely, closing above $0.75 could invalidate this setup.

Adding to the chorus of bearish sentiments, analyst Ali Martinez predicts a drop to $0.34 if XRP fails to hold above the $0.55 support level. XRP Shark echoes similar sentiments, identifying a potential bottom between $0.35 and $0.45 before anticipating a violent move to the upside. 

These analysts collectively suggest that a short-term dip may be necessary to shake out weak hands before XRP experiences new highs. Despite these short-term bearish outlooks, there is optimism in the air. Analyst Crypto Rover foresees a massive breakout for XRP in March, aligning with the notion that turbulent times may pave the way for significant upward movements. 

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