In recent days, XRP has undergone a consolidation process around $0.60 and has experienced a decline of approximately 7% in the past two weeks. Despite the ongoing decline, cryptocurrency analysts continue to make optimistic price predictions.
Cryptocurrency analyst EGRAG CRYPTO highlights the impressive performance of XRP, noting that the altcoin has closed two consecutive months with green candles. The analyst suggests that the closing of a third green candle at the end of November could be a significant indicator of an upcoming rise.
EGRAG CRYPTO claims that after a possible 5-month consolidation period, XRP could rise to $10 and potentially reach an impressive level of $50 by November 2024. The analyst says, “Be patient. The average of these two targets is $30, and my secret target that I always whisper is $27.”
Another analyst, Dark Defender, argues that Ripple’s existence is within the framework of a significant increase. The analyst states that they expect a parabolic increase when three critical factors for XRP are met.
Among the factors mentioned by the analyst are surpassing a resistance level defined as SRSI, both SRSI lines closing above 80, and crossing an 8-year trend line. Dark Defender, who indicates a target of $11 for XRP, predicts that this expectation will be realized by 2025.