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XRP has been Caught in the wider market decline In the past week, 19% of its value is in the midst of a Gulf of Bearish sentiment. This decline comes despite the fact that many analysts remain optimistic about the long -term perspectives. A certain technical analyst has now weighed when it would be wise to buy XRP, warning that the short -term prospects are shaky and the price of it can continue to fall.
Analyst identifies the ideal purchase zone for XRP
Last week has been a challenge for XRP holders as it has token struggled to maintain Main support levels. The inability to hold these levels has pushed him closer to the $ 2 marking. However, the latest technical analysis suggests that this decrease may not be over yetAnd a further downward movement seems likely.
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This XRP price fall has caused the growing uncertainty among many retail investors, especially since XRP is increasingly the choice of coins for retail investors in this cycle. Given the growing reputation of XRP as a favorite at the retail trade and the long-term bullish potential, this decline would be the best time for bullish investors to load more tokens. However, a crypto analyst recently warned that the current price is not the ideal access point for those who want to benefit from the bullish potential of the currency.
Although XRP is one of the most promising cryptocurrencies from a technical perspective, the timing of purchases is also important. In a post on X, The analyst noticed it That XRP is the ‘retail coin’, who often attracts the attention of new investors who are convinced that it will reach extreme price levels, such as $ 100. Despite this bullish momentum, he warned against the current prices, and stated that the best time to come in would descend to the reach of $ 1.6 to $ 1.5. What this means is that the current trend suggests more downward movement in the short term, and it would be wiser to wait more before you get up.
Long -term bullish case despite the weakness in the short term
Even if the short -term front views of XRP Beerarish, the analyst will continue to be in line with those who expect a big price increases in the future. Various technical analyzes have painted a optimistic image, with some projections that the Altcoin place far beyond the threshold with double digits. Especially an analyst even has even Predicted a rally up to $ 27 Despite the constant decline of the market.
The idea that XRP could eventually reach double and triple figures continues To attract investor’s interestsBut this projection depends on market conditions and broader acceptance trends. In the meantime, holders are struggling, unsuccessfulTo prevent a decline.
At the time of writing, XRP acts at $ 2.16, with 7.04% in the last 24 hours. The responsibility is now whether the price above $ 2 can apply. Even if it breaks below this level, it only opens the possibility of an accumulation oak between $ 1.6 to $ 1.5.
Featured image of Adobe Stock, Chart van TradingView.com
