- Ripple’s XRP is going through a correction like the entire crypto market, but was able to stabilize at USD 0.55.
- Analysts agree that XRP is now an affordable entry point before the uptrend continues.
XRP has fallen more than 30% from USD 0.74 to USD 0.55 at the time of writing after the sharp correction. In the last few hours, the entire crypto market and thus the XRP price has stabilized. XRP is down 1.79% in the last 24 hours. Market capitalization has dropped to $ 25 billion.
As Crypto News Flash reported, XRP rose briefly to USD 0.90 on Coinbase on Tuesday. However, a short time later, the price fell after the platform suffered some technical difficulties. Given the potential, the current situation is a fantastic opportunity for the trader and analyst Credible Crypto to get into XRP cheaply.
In his opinion, investors will never be able to buy XRP so cheaply in the next few years. He performs Twitter from the fact that all interested parties should buy XRP now, as long as the cryptocurrency is still in the price range between USD 0.38 and USD 0.55:
To be able to buy $ XRP anywhere between .38-.55 is a boon. If you get this chance, take it. There are no guarantees that we will hit the lower end of this range, so a DCA’ing down is your best chance.
Credible Crypto is a well-known XRP bull and has already forecast a price increase of more than 1,000% in numerous analyzes with a target price of USD 25 to USD 30. It is noteworthy that he had also correctly predicted the correction of almost 30%. The analyst states that all investors should be careful as XRP is up more than 60% against BTC and could correct further:
In one day, $ XRP was up more than 60% against $ BTC. We may take a little break as we are facing the greatest resistance, and with BTC nearing a potential local peak (once we take ATH out) it is time to be a little careful with $ XRP as well and keep your eyes peeled to keep open after a decline in the number of buyers.
The trader “Smokey” states that XRP has to hold the support of 0.48 USD on the weekly chart in order for the recent upward trend of XRP to continue. Should XRP fall below this level, a correction to as low as $ 0.30 could follow. The following chart shows the respective levels.
XRP enthusiast and trader “Blockchain Backer” describes, however, that XRP has fallen to the last support level and may have bottomed out. In his latest video update, however, he warns his followers that another major correction could also be imminent for XRP and that all investors should therefore work with wisely placed stop-loss orders.
XRP corrects back to the support. pic.twitter.com/ywLoZmRiFR
— Blockchain Backer (@BCBacker) November 26, 2020
Important indicators mark a bullish future for Ripple
According to the latest data from analytics firm Santiment, Ripple’s XRP has overtaken Ethereum in social volume for the first time in seven months. The daily social volume exceeds that of XRP for the first time, so that the cryptocurrency has risen to the most discussed after Bitcoin.
In addition, development activity for the XRPL has increased 5 times compared to the previous 18 months. According to Santiment, last week’s altcoin rally wasn’t a big surprise, as altcoins often caught up when Bitcoin took a breather.