Analysts said that XRP is poised to continue its rally in the near future.
XRP price caught the eye of market participants today, adding more than 2% and soaring past the brief $3 mark, inviting discussion on prediction for potential surge ahead.
This latest surge comes amid a broader crypto market rally, with BTC price soaring past the $123k mark. Besides, the altcoins like Ethereum, BNB, Solana, and others are adding between 2% and 9%.
However, the ongoing rally has sparked doubts among market watchers about whether the digital assets could hold on to their momentum.
Notably, volatility is an integral part of the crypto market, and so, many are questioning if the assets are poised to witness a pullback in the near future.
Meanwhile, Ripple coin was one of the top discussed players in the space, known for its volatile movements.
Despite that, the market pundits appear to have remained optimistic on the future trajectory of the asset.
In a series of analyses shared on X, analysts have shared their bullish projections for the asset. The short-term target sits at $4. However, many also predicted XRP price to hit double digits in the long run.
So, here we explore some of the top XRP price prediction from market experts and see what may lie ahead for the asset.
Ripple coin price has jumped more than 2% and exchanged hands at $3.08 during writing.
On the other hand, its trading volume over the last 24 hours soared more than 20% to $7.5 billion. That indicated robust interest from market participants.
It’s worth noting that Ripple coin touched a one-day high of $3.10, from a low of $2.99. It reflected the highly volatile scenario in the market.
Now, as the XRP price recorded robust gains recently over the past few days, market watchers are anticipating a continuing rally in the asset’s price.
Meanwhile, it seems that the recent rally was mostly due to the bullish sentiment hovering in the broader crypto market.
The recent crypto market performance suggests that traders are taking shelter under the risk-bet assets amid the ongoing macroeconomic concerns like the US government shutdown.
Simultaneously, the XRP Futures Open Interest also continued to surge this week, further bolstering market confidence.
The derivatives data suggests that retail traders are putting heavy bets into the asset, especially as analysts predict a potential surge to $3.3 for XRP value.
However, despite the recent rally, the technical indicators suggest caution. For context, the Relative Strength Index of the asset was at 65 during writing and is approaching an “oversold” condition.
This indicates that the asset might witness a short-term pullback. For context, when an asset’s value increases significantly, some investors exit the market to book profits. That triggers selling pressure in the market.
Market pundits shared bullish prediction for XRP price that it is expected to continue rallying in the final quarter of the year.
In a recent X post, analyst Ali Martinez has highlighted a surge above $3 mark as a key milestone for the asset.
In addition, the expert noted that the Ripple coin price is “set to breakout out of a triangle.” According to the market pundit, the crypto is now poised to target the $3.6 mark, which has fueled market interest.
Simultaneously, analyst EGRAG CRYPTO has highlighted the region between $3.13 and $3.20 as a major zone. According to the expert, if XRP successfully closes above this level, the next target lies at $3.44.
However, he reiterated that it must hold above $3.2 zone for at least three days to confirm as major support.
Having said that, investors are advised to tread cautiously while looking at the major support and resistance levels ahead.
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