Is a Ripple (XRP) ‘Mega Pump’ on Its Way? This Analyst Thinks so

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TL;DR

  • XRP Price Trends: XRP dipped to $0.59 in Novem­ber, slight­ly recov­ered to $0.61, but remains below its ear­ly Novem­ber price of $0.70.
  • Ana­lysts’ Opti­mism: EGRAG CRYPTO pre­dicts a poten­tial price increase to $0.85 for XRP, while Dark Defend­er fore­casts a tar­get of $0.87-$1.05.
  • Influ­ences on Mar­ket: The intro­duc­tion of cryp­to ETFs in the US is expect­ed to pos­i­tive­ly impact the dig­i­tal asset sector.

‘Stay Steady’

The price of XRP has recent­ly res­onat­ed with the over­all mar­ket cor­rec­tion, plung­ing to as low as $0.59 (per CoinGecko’s data) on Novem­ber 18. Despite reclaim­ing some ground in the fol­low­ing days and reach­ing its cur­rent lev­el of approx­i­mate­ly $0.61, Ripple’s coin is still far from its $0.70 mark at the begin­ning of November.

Nonethe­less, some cryp­tocur­ren­cy ana­lysts remain opti­mistic that XRP would spike in the near future. One exam­ple is the pop­u­lar X (Twit­ter) user – EGRAG CRYPTO. They believe the asset could expe­ri­ence a “mega pump” should it over­come three impor­tant lev­els, described as “robust sup­port,” “firm sup­port range,” and “sup­port threshold.” 

The ana­lyst thinks XRP might soar by 40% and hit $0.85 in the fol­low­ing months. On the oth­er hand, they warned investors to enter the ecosys­tem with a dose of caution:

“Antic­i­pate the forth­com­ing Mega Pump, yet exer­cise cau­tion by strate­gi­cal­ly allo­cat­ing por­tions of your holdings.”

Those will­ing to dive deep­er into the mat­ter and explore XRP’s poten­tial price per­for­mance in the remain­ing quar­ter of 2023 could take a look at our video below:

How About Surpassing the $1 Mark?

Anoth­er ana­lyst who laid out a bull­ish XRP pre­dic­tion is the X user Dark Defend­er. They recent­ly argued that the asset is poised to reach the short-term tar­get of $0.87-$1.05.

Sub­se­quent­ly, Dark Defend­er fore­cast­ed that cer­tain cryp­to ETFs would soon see the light of day in the Unit­ed States, which could be a high­ly pos­i­tive fac­tor for the entire dig­i­tal asset sector.

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