XRP Price Likely To Face Correction Before Rallying To $11
The post XRP Price Likely To Face Correction Before Rallying To $11 appeared on BitcoinEthereumNews.com.
XRP price has recorded a strong rally over the past few months, especially after Trump’s win has fueled market optimism. Adding to the excitement, a top market expert recently shared a bullish forecast for Ripple’s native crypto, predicting a potential surge to $11. However, despite the positive long-term outlook, the expert said that the crypto could witness a pullback before the strong rally. Top Expert Predicts XRP Price Rally To $11 As XRP price recorded a robust rally recently, market experts remained positive on the future trajectory of the coin. For context, crypto market expert Ali Martinez recently shared a price chart highlighting the key levels for Ripple’s native crypto. He has shared a key resistance level that the crypto should break to avoid the bearish momentum ahead. For context, the expert said that the crypto’s price action remains in focus as it consolidates within a bullish pennant pattern. In addition, he said that crypto could risk falling to $2.05 ahead “until the $2.73 resistance is broken.” However, despite the warning on the short-term performance, the analyst noted that the crypto could rally to $11 after the “pullback.” Source: Ali Martinez, X In other words, this analysis suggests that while the long-term outlook is optimistic, traders should prepare for potential short-term volatility. Historically, bull pennant patterns indicate accumulation phases, followed by significant price moves. XRP’s current technical setup aligns with this, signaling a possible retracement before achieving new highs. Meanwhile, the crypto market’s growing bullish sentiment adds further momentum to XRP. Notably, this projection reflects both the token’s strong fundamentals and renewed investor confidence in the broader crypto market. A Closer Look Into Ripple’s Native Crypto & Its Future Prospects The warning over the short-term pullback in XRP price also aligns with the current market sentiment as the US SEC’s…
Filed under: News - @ January 5, 2025 2:35 am