What does it take for XRP to reach $35? 🚀🚀🚀
Long-term holding may be the key!
In the past seven days, XRP has experienced a decline of about 3.22%, while falling 6.33% in 24 hours. Despite the price decline, the market atmosphere remains optimistic, and many analysts have positive expectations for the future of XRP, and some even boldly predict that its price will climb to $35.
Recently, the legal issues faced by Ripple have triggered a lot of speculation in the market about XRP, resulting in increased price volatility. However, analysts generally believe that this is a sign that the market is about to usher in a turning point, heralding the end of the bear market and the beginning of a new round of upward trend.
MikybullCrypto, a cryptocurrency analyst active on X (formerly Twitter), pointed out that the current market trend is similar to that of 2017, suggesting a possible rebound. He mentioned: "Given that the current market dynamics are quite similar to the path of 2017, XRP may be able to repeat the strong rebound of that year."
Another analyst, Tylie Eric, is also optimistic about the future of XRP. By comparing the market cycle in 2017 with the current trend, he believes that XRP has met all the conditions for continued rise. "There are signs that XRP is moving along the trajectory of 2017, when it soared 1,400% in a year, even surpassing the growth of Bitcoin. If history repeats itself, we have reason to expect the price of XRP to climb to $35."
At the same time, according to Coinglass data, XRP's Netflow continues to be negative, indicating that investors are withdrawing assets from exchanges and depositing them into personal wallets, which is generally regarded as a signal of long-term holding and reflects investors' confidence in the future value of cryptocurrencies.
So, can XRP really reach a high of $35? Although market sentiment is positive and there are multiple indicators supporting a potential trend reversal, it will take time to reach this goal. Analysts generally believe that this is a long-term process that may not be achieved until 2025. In the short term, the market will pay close attention to whether XRP can break through the resistance level of $0.49. If it succeeds, it may further challenge the $0.549 area.
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