XRP New Trends: Why It Might Fall to $1.5, What Should Investors Do?
Hey everyone! XRP has been acting a bit strange lately, and we need to talk about it. An analyst called The Block Bull has stated that XRP might experience a significant drop in the coming weeks.
Just in December, XRP managed to surge to a high of $2.9, but it didn't take long for it to lose momentum. It now seems like it needs to correct itself, and it could potentially drop to $1.5, or even lower.
Block Bull believes the downward momentum for XRP may have already begun. On December 12, XRP fell by 2.34%, and the slight upward trend disappeared. Although XRP struggled a bit afterward, the analyst predicts it could drop to $1.5 next week.
If it can't hold $1.5, that would be troubling, as it might continue to fall to $0.5, possibly around the holiday season. XRP has lingered around $0.5 for quite some time, only managing to climb out by the end of 2024.
Additionally, Coinpedia reported that 39.43 million XRP, worth $95.5 million, has been transferred to Coinbase. Previously, there were concerns about large-scale sell-offs of XRP, and this adds fuel to the fire.
Why is XRP in such a bad situation?
Despite XRP rising by 105% over the past eight days, the entire cryptocurrency market has been lackluster, and it has followed suit.
Bitcoin can't even stabilize at $100,000, causing anxiety throughout the market. XRP is also stuck in a range, unable to go up or down.
Analysts say if XRP cannot break out of this range, it will be even more problematic. In the medium to long term, the outlook for XRP remains pessimistic, and it may need to return to the November lows.
However, there's still a glimmer of hope!
This recent wave of sell-offs has caused many high-leverage players to take a hit, with losses in the billions of yuan. Although this has brought XRP's price down further, it has also squeezed out some of the excess.
Some XRP fans remain quite optimistic; they say Ripple is about to launch the RLUSD stablecoin, and the new regulatory environment in the United States might be better as well.
In terms of future strategies, I will guide everyone to target high-profit opportunities in altcoins, especially those with significant potential, where a 10x return is definitely possible. If you want to make big money in a bull market, like and comment, and I will help you position yourself for the entire bull market!
