Ripple (XRP) will struggle greatly.
Ripple (XRP), which managed to rise above $ 1 after three years, may have to consolidate its place in the coming days.
$XRP , one of the most popular altcoins in the crypto industry, rose above $ 1 for the first time since 2021. The rise that took place on November 16 created excitement among crypto investors. Many investors speculated that XRP would reach $ 10.
AMBCrypto suggested in its XRP analysis that the bullish cycle may be coming to an end. The analysis titled “The real test is coming now” touched on the circulating supply and the memecoin craze.
According to the XRP analysis prepared by AMBCrypto, the bulls will need to maintain the $ 1 level as a support point. If this level is lost, the price may decline sharply.
The following statements were included in the analysis;
“Although the outlook for $XRP is promising, the price needs to consolidate its place. Patience and caution should be exercised.”
The analysis emphasized that one of the biggest obstacles to XRP’s rise is memecoins. In every uptrend cycle, memecoins that attract new investors surpass major altcoins. Memecoins are consistently among the highest-rising altcoins of the day.
Stating that XRP will struggle greatly, the analysis noted the following; “Considering market sentiment, XRP may need to wait a little longer to reach $2.”
It was suggested that short-term traders in XRP may start taking profits and that a decline may be seen if the momentum cannot be maintained.
Stating that XRP slowed down after exceeding $1, AMBCrypto said the following; “Data shows that investors who are afraid of Bitcoin entering a risky area are strategically moving away from riskier assets.”
According to the analysis, if the
#XRP price holds on to $1, a rise towards $1.15 may be seen. The rise in question may occur when profit sales are melted in the $1 region. In fact, if XRP can reclaim the $1.15 level, it could touch its all-time high of $1.2698.
#CryptoDeNostradame #ParrotBambooCrypto 