Ripple (XRP) Dips 6% Amid Crypto Market Sentiment Shift, Yet Analyst Maintains Bullish $1.4 Outlook
Ripple (XRP) endured a steep drop over the past day, with the coin falling from highs of $0.65 down to current levels of $0.62, reflecting a loss of 6% in the last 24 hours. The rapid decline mirrored wider turbulence in crypto markets amid a swift shift in investor sentiment.
According to analyst EGRAG Crypto, Monday’s flash crash swiftly liquidated an ample number of leveraged long positions in XRP. He notes that, while devastating for overexposed traders, the unpredictable price action serves as a stark reminder of the risks posed by excessive leverage.
Ultimately, the analyst insists that despite the latest bout of volatility, XRP’s core bullish trajectory targeting the $1.4 level remains intact. The analyst called for composure among the XRP faithful, affirming conviction in the asset’s long-term growth narrative.
At this point, the sharp but likely temporary pullback places the impetus on bulls to defend current support levels. Failure to hold above the $0.60 level opens the door for an extended cooldown as bearish momentum gathers steam.
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Keeping perspective through crypto’s inherent volatility remains key; any overreactions still seem unlikely to disrupt XRP’s path over the coming quarters.
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