Want To Get Into XRP? Crypto Analyst Reveals The Ideal Price
10 November 2023 - 12:00AM
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As the market continues to rally, many begin to feel that they have
missed the chance to get in early on their favorite altcoins,
including XRP. However, a prominent crypto analyst has provided
hope to those still looking to get in on the token as he talks of
the possibility of a correction and the ideal price to accumulate
the crypto token. The Right Time To Be A “Buyer” In a post
shared on his X (formerly Twitter) platform, the CEO and founder of
MN Trading, Michaël van de Poppe, acknowledged how the price of XRP
has been rallying in recent times. He further went on to hint at
the fact that XRP has always corrected whenever it experienced such
rallies. The one that he pinpointed was when the token corrected
from $0.93 to $0.45 before its resurgence. Related Reading: Bitcoin
Parabolic Rally Above $600,000: Crypto Analyst Says It’s Closer
Than You Think As such, his belief seems to be that the XRP will
dip once again. This time, he stated that an ideal time to be a
buyer will be if XRP is able to correct to around $0.54.
However, many in the XRP community will be hoping that XRP
continues to rally from henceforth, especially considering that it
just recently hit the $0.7 price mark. The technical and
fundamental analysis surrounding the XRP ecosystem seems to be
bullish, with many predicting more upward trend from the $0.7 mark.
In a recent X post, renowned crypto analyst Egrag, who had
predicted that a god candle was coming for XRP, mentioned that that
XRP just witnessed an “exciting development.” This is because the
21 Exponential Moving Average (EMA) has crossed over the 55 MA.
According to him, this “bullish crossover” historically signifies
the beginning of “significant price explosions.” Source: X To
consolidate this development, he stated how XRP closing above the
$51.3 billion Fib 0.702 level was critical as it could be the
“watershed moment for our victory.” XRP Fundamentals Are Also
Bullish The Ripple Swell Conference 2023 is currently
ongoing, and the event has lived up to the hype following Ripple’s
latest announcements. Apart from the rebranding of its payment
service as Ripple Payments, the crypto company also announced how
its partner Onafriq will begin utilizing its payment service. This
move would see Ripple open up the cross-border payments structure
across three continents: Africa, Europe, and Australia.
Related Reading: Dogecoin Climbs Above $0.075 To 3-Month High, But
Metrics Show It’s Far From Done The crypto company is also expected
to make more announcements before the conference comes to a close
on November 9. Ripple isn’t resting on its laurels, as the company
feels more confident than ever to keep expanding. By extension,
this will increase the utility of the XRP token, which is an
important piece in its Ripple Payments service. Token price
readies to retest $0.7 | Source: XRPUSD on Tradingview.com Featured
image from Decrypt, chart from Tradingview.com
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