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- Ripple’s XRP, like the entire cryptocurrency market, is undergoing a correction, but has managed to stabilize at $ 0.55.
- Analysts agree that XRP now offers a favorable entry opportunity before the upward trend continues.
XRP fell more than 30% from $ 0.74 to $ 0.55 at the time of writing after the sharp correction. In the last few hours, the entire cryptocurrency market and therefore the XRP price has also stabilized. XRP recorded less than 1.79% in the past 24 hours. Market cap fell to $ 25 billion.
As reported by Crypto News Flash, XRP briefly climbed to $ 0.90 on Coinbase on Tuesday. Shortly thereafter, however, the price dropped after the platform ran into some technical difficulties. Given the potential, the current situation is a fantastic opportunity for Credible Crypto trader and analyst to enter XRP at a low price. In his opinion, investors will never again be able to buy XRP at such a low price in the next few years.
Explain Twitter that now all interested parties should buy XRP as long as the cryptocurrency is still in the $ 0.38 to $ 0.55 price range:
To be able to buy $ XRP anywhere between .38 and .55 is a blessing. If you have this chance, you better take it. There is no guarantee that we will get the lower limit of this range, so reducing DCA is your best bet.
Credible Crypto is a well-known XRP bull and has already predicted in numerous analyzes a price increase of more than 1,000% with a target price of between $ 25 and $ 30. It is remarkable that it also correctly predicted a correction of almost 30%. The analyst says all investors should be cautious, as XRP has risen more than 60% over BTC and may continue to correct:
In a day, $ XRP increased by 60% + against $ BTC. We may pause a bit as we are facing key resistance and with BTC approaching a potential local high (once ATH is cleared) it is time to be a little cautious about $ XRP and keep your eyes peeled for a dive into buying opp.
Trader “Smokey” says that XRP must hold support at $ 0.48 on the weekly chart for XRP’s recent uptrend to continue. If XRP falls below this level, a correction to $ 0.30 can follow. The graph below shows the respective levels.
Source: https://twitter.com/TraderSmokey/status/1332010042892161027/photo/1
XRP enthusiast and trader “Blockchain Backer” describes that XRP has dropped to the last support level and may have found its bottom. In his latest video update, he warns his followers that XRP could face another major correction and that all investors should work with intelligently placed stop loss orders.
XRP corrects back to support. pic.twitter.com/ywLoZmRiFR
– Blockchain Backer (@BCBacker) November 26, 2020
Important indicators draw a bullish future for Ripple
According to the latest data from analyst firm Santiment, Ripple’s XRP surpassed Ethereum in terms of social volume for the first time in seven months. This is the first time that daily social volume has surpassed XRP, making it the most talked about cryptocurrency behind Bitcoin.
Additionally, development activity for the XRPL has increased five-fold in the past 18 months. According to Santiment, last week’s Altcoin rally wasn’t a big surprise, as Altcoin often followed when Bitcoin took a break.
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