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Analyst Predicts XRP’s Potential Surge to $5 Amidst Significant Whale Activity

Rene Peters

January 11, 2024

The XRP token has seen intense discussion and debate recently around its near-term price outlook, with predictions spanning continued declines or a major bull run emerging.

Market Analysis

Per analysis by altFINS:

• Near-term bias: Bullish
• Possible swing trade entry around $0.55
• Upside targets of $0.68, then $0.92

They note XRP has filled the upside gap from its July spike to $0.92, making lower highs in the process to form a downtrend. However, with the price approaching the $0.55 support level confluent with its 200-day moving average, a technical bounce could unfold.

Conflicting Predictions

However, predictions remain mixed from various analysts:

• Trader EGRAG sees potential for an explosive “90-day rally to $5” as part of a broader bull market unfolding.

• Meanwhile, XRP Captain highlights major XRP transfers between exchanges, suggesting “someone knows something huge” that could pump prices.

On the other hand, the altFINS assessment points to a still-intact downtrend in place in the short and medium-term timeframes. And with bearish momentum signals persisting, they appear more guarded against calling a new bull run already underway.

Source: altFINS – Start using it today

So XRP may remain at a crossroads currently, with its next directional move potentially significant in either confirming or denying the early bullish prognostications. The cluster of technical support around $0.50 to $0.55 could be an inflection zone to watch before a lasting trend becomes clear.

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