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XRP Is Approaching Its Best Buying Zone in 8 Years: Analyst Maps Out Ripple’s Path to $3

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Ripple’s cross-border token might not be out of the woods yet after the recent price crash, and there could be even more pain ahead with a potential drop to and below $0.90.

However, Ali Martinez has joined EGRAG CRYPTO in believing that such a dip is necessary for a major run toward $3.00 and well beyond that.

XRP to $0.90 Before $3?

In his latest video on X dedicated to the cross-border altcoin, Martinez told his over 165,000 followers that the asset has rebounded swiftly for nearly a decade every time it touches the rising trend line, which has marked a “major turning point.” The cryptocurrency has followed a similar path within those years, rocketing back to $3.00 on a more macro scale. The trend line is now the next key support level, located between $0.70 and $0.90.

“If buyers defend this zone, a rally back to $3.00 becomes a realistic scenario,” Martinez noted.

He was even more optimistic on XRP’s future if it finally manages to break past that eight-year resistance that has halted each major breakout attempt. He set the next macro targets at somewhere between $8.00 and $13.00.

Although these numbers appear far-fetched, to say the least, given the current market conditions and environment, with XRP dumping to a 19-month low days ago, it’s worth noting that Martinez is not the only popular analyst to share such a view.

EGRAG CRYPTO, another macro-focused market commentator, recently outlined a similar path for XRP, which included a dip toward $0.90 and a subsequent long-term recovery toward $8.00 or even $13.00.

Big Whales Still Leading

Switching back to more micro scales, CW focused on who has been active on the XRP spot trading scene. The analyst explained that “big whales” are still leading, and have continued to maintain their dominance for roughly four years.

CW added that these large market players lead trading in accumulation phases and tend to stand clear when XRP’s price expands. As such, they have been particularly active since last October, given what happened to the broader crypto market and Ripple’s token.

Публикацията XRP Is Approaching Its Best Buying Zone in 8 Years: Analyst Maps Out Ripple’s Path to $3 appeared first on CryptoPotato.

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