According to CryptoPotato, XRP, the token of Ripple, has been trading around $0.52 recently. However, some analysts predict a potential rise to $0.70 this summer as the token supposedly nears the end of a long consolidation phase. Despite this, others foresee a possible drop to $0.27. Ripple’s XRP is one of the few leading cryptocurrencies that have not experienced a substantial price increase in the past few weeks. It has consolidated around the $0.5 mark, while its market cap has been struggling to cross the $30 billion level.
Some analysts believe the asset is poised for significant gains in the near future. Content creator DustyBC Crypto noted XRP’s progress on a yearly scale, suggesting that an uptick toward $0.70 can occur sometime this summer. Another analyst, Blockchainedbb, claimed the token has been in a consolidation mode for more than 700 days, assuming the end of that phase might be just around the corner. However, not all analysts share this optimism. Jason A. Williams predicted that XRP’s price could drop to $0.27 during the next bull cycle.
Analysts JAVON MARKS and EGRAG CRYPTO have also speculated on XRP’s future trajectory. MARKS claimed the token has been holding a certain resistance zone for several months, describing it as a “hidden bullish divergence setup.” He reminded that in 2017, the same pattern was followed by a 63,000% increase in less than a year. EGRGA CRYPTO envisioned a bright future for the asset based on the low Relative Strength Index (RSI). This technical analysis tool measures the speed and change of price movements and helps traders assess whether the token is overbought or oversold. Data shows that the RSI has not crossed that level since May 21.