XRP Price Dip Predicted, But Bullish Outlook Remains

Following the Ripple-SEC case resolution, XRP surged over 12%, briefly exceeding $3. However, profit-taking led to a price slowdown. Crypto analyst HAMED_AZ predicts a potential correction, suggesting a retest of the previously broken trendline around $2.9, potentially pushing the price below $3 again.

Descending Trendline and Corrective Phase: While the initial post-settlement surge broke a descending trendline, resistance near $3.4 triggered a pullback. The $3.2 level has provided temporary support, but HAMED_AZ believes this corrective phase isn’t over.

Potential Support and Bullish Continuation: The analyst’s chart indicates potential support just above $2.9, completing the pullback. This, HAMED_AZ suggests, could launch a new bullish phase, aligning with an ascending trendline from June and the $2.93 bottom. This could propel XRP towards new all-time highs.

Projected Price Increase and New ATH: A significant price increase of over 35% is projected, potentially pushing XRP above $4 and surpassing the 2018 peak of $3.84. This scenario would represent a substantial gain for XRP investors.

Disclaimer: This analysis is based on the interpretation of a crypto analyst’s views and should not be considered financial advice. Investing in cryptocurrencies involves inherent risks.