XRP adjusts in the short term after overheating price increase

XRP has experienced a strong recent price increase, reaching a yearly high of $1.63 on November 23. However, after this price surge, some analysts predict the possibility of a short-term adjustment. One analyst, Egrag Crypto, believes that XRP is in a "psychological zone," with the potential to rise to $2 or drop to $1. Another analyst, Dark Defender, predicts that the adjustment will only last a few days before XRP continues its upward trend. Nevertheless, price predictions vary, with some analysts forecasting a price range from $1.50 to $3.00 by the end of 2024, while other bullish scenarios suggest prices could reach $8 or more, and bearish scenarios could see prices drop to between $0.80 and $1.00. The strong growth of XRP is also noted in the South Korean market, which accounts for a significant portion of trading volume, but some analysts warn about the unsustainability of this upward trend. In summary, in the short term, XRP is likely to experience a phase of adjustment after a strong price increase, but the long-term outlook remains highly debated.