XRP Price Predictions Get on to make the roundsand one of the latest price predictions is that of prominent crypto analyst CrediBULL Crypto, who recently provided a comprehensive analysis of the the future trajectory of token.
How XRP Price Could Rise to $0.9
In a after shared on his X (formerly Twitter) platform, the crypto analyst highlighted that while analyzing the XRP/USD chart the fact that XRP is currently enjoying an uptrend, but that could end soon as it faces a resistance level around the $0.63 price range.
However, he was quick to allay fears of a potential dump as he noted that the rejection doesn’t necessarily translate into a huge drop in the dump but could simply mean consolidation around that price range.
He also sounded optimistic when he stated that there is a “decent chance” that the XRP price breaks through that resistance level, which if so, the token could see rise to $0.9. However, he did not provide a time frame for when this could happen, saying XRP holders may need to be patient.
On the plus side, The Basics of XRP are looking stronger, especially with Ripple’s latest victory against the SEC, with the Commission dismissing its case against the company’s founders. Ripple is also actively building to expand its services, which could happen The usefulness of XRP is increasing as a result of the company’s efforts.
What could hinder the rise of XRP?
CrediBULL Crypto also mentioned the factor that hindered a massive rally in the XRP price. According to him, the token simply faces the same problem as other altcoins, namely: lack of liquidity in the market.
He stated that this ultimately influenced XRP’s decline in the months leading up to now, as he had predicted that XRP would rise above $1 after the acquisition. Ruling by Judge Analisa Torres in favor of Ripple in his case against the US Securities and Exchange Commission (SEC).
Another factor that could see the XRP price fall in the short term is the expected parabolic rise in the XRP price flagship cryptocurrency, Bitcoin. While analyzing the XRP/BTC chart, CrediBULL Crypto hinted that XRP could drop as much as 30% against BTC. This decline does not only apply to XRP, as he expects other altcoins to bleed against XRP main cryptocurrency.
However, the crypto analyst does not doubt the potential of Bitcoin continues to rise.
Token price sets sight on $0.6 | Source: XRPUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com