Ripple $XRP rebounded from its most recent price slip below $2, but the asset might not be out of the woods yet. However, a popular crypto analyst suggested that a potential decline toward that level again could be beneficial for XRP’s long-term price movements.
Ripple’s cross-border token went on a massive run after the US elections, skyrocketing by triple digits at one point and peaking close to $3. All of these gains came in the span of a few weeks, but the asset lost momentum at the start of December.
It tumbled hard on several occasions in the following weeks, with the latest decline to under $2 transpiring last Monday, December 30. This came during the most recent market-wide correction.
Consequently, $XRP has regained its spot as the third-largest cryptocurrency by market cap by surpassing Tether’s USDT.
According to an analyst “Ali”, $XRP still stands below a steep resistance level of $2.73, which has stopped its price ascent on a couple of occasions during this rally. If the asset fails to overcome it soon, it could slump back to $2.05.
However, Analysts actually believes that such a scenario could be a blessing in disguise for XRP, which could catapult it toward a fresh all-time high $3.4 and all the way up to $11.
Is it safe to say that $11 sounds quite extraordinary for XRP?
I feel this a prediction under the category of exaggerated price predictions
