Ripple’s coin, XRP, is staying at about $0.59 in price, holding steady while the overall cryptocurrency market goes up. Even though it’s facing some obstacles, experts believe that XRP might do well in November.
Resistance Ahead for XRP: $0.68
A crypto analyst named Credi BULL Crypto has cautioned that XRP is encountering a tough hurdle in its price. If it can’t overcome this obstacle, it might experience a substantial decline. Even though the overall cryptocurrency market has been doing well recently, XRP managed to go up by 6% in the past week. According to the analyst, XRP is dealing with an important challenge just before reaching $0.70, and here’s what they’ve said:
If XRP can surpass the $0.68 resistance, it will be a sign of a significant rally, and breaking the resistance could lead to higher levels around $0.90.
If the analyst’s guess is right and XRP goes up to $0.90, it would be a big increase of more than 54% from its current price.
A different crypto expert, Pentoshi, had earlier said that if XRP goes above $0.54, it might reach a price between $0.62 and $0.63. And indeed, XRP reached $0.61 in the morning before a small drop, which confirms the analyst’s prediction.
What’s Next for XRP?
Credi BULL also said that if XRP gets past the tough price level, it doesn’t necessarily mean its price will drop a lot. The analyst thinks XRP might stay at a similar price for a while.
Many people who watch the market and experts have been expecting XRP to go up, possibly reaching $2 or even more. They believe this is because more people are using XRP, and there’s an event in the Bitcoin market expected in the second quarter of 2024 that might also boost XRP. Right now, XRP is being traded at $0.5879, and it has gone up by about 2.74% in the past day. The data shows that XRP has increased by 5.8% in the last week and 13.76% in the last 30 days.