TL;DR
- Ripple’s XRP dropped by 20% following a market downturn, yet some analysts see this as a buying opportunity.
- Several other optimistic predictions indicate a bullish outlook for the asset, with potential significant appreciation in its value expected soon.
‘XRP Dips For Buying, Not For Crying’
The cryptocurrency sector experienced a substantial correction on April 14, with its global market capitalization plunging to approximately $2.4 trillion. CryptoPotato reported that the adverse trend resulted in multi-million liquidations, mainly affecting long traders.
Ripple’s XRP is among the notable losers in the past week, nosediving by 20% to around $0.48 (per CoinGecko’s data).
However, some analysts remain unfazed, viewing this as a buy-the-dip opportunity. One example is the X user EGRAG CRYPTO, who claimed that “XRP dips for buying, not for crying.”
Several hours before the market decline took place, the analyst argued that Ripple’s native token “finds itself in a unique position, caught between bullish sentiment and bearish pressure.” EGRAG CRYPTO believes the asset has been in a consolidation phase since August 2023, describing it as “a healthy formation.”
“Stay steady, XRP is poised to ignite like a rocket,” the analyst concluded.
The Previous Forecasts
EGRAG CRYPTO chipped in again earlier this week, suggesting that XRP’s price trajectory has formed a so-called “three camel humps.” In their view, breaking above the major resistance zone of $0.75 may lead to a “bullish momentum” and an eventual rise to the range of $1-$1.30.
Dark Defender was optimistic, too, maintaining that XRP reached a “bouncing point” and forecasting that it “will definitely appreciate against BTC very soon.”
The most bullish predictions came from the X user Mikybull Crypto and the YouTube content creator, using the handle D.I.Y Investing. The former argued that XRP is gearing up for a rally toward $4, while the latter thinks the token’s price is ready to skyrocket to a new all-time high.
Those willing to explore some essential signs hinting that the asset is on the verge of an explosive rally this year, feel free to check our dedicated video below:
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