XRP Price Could Dip To $1.5 Before Major Rally To $10, Expert Predicts

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Today, the price of XRP hovered around its current level, not showing much change, as the broader cryptocurrency market trended upward. Meanwhile, an expert has suggested potential support levels for Ripple‘s digital currency, while envisioning a long-term optimistic goal of $10 for the asset. It’s important to mention that this positive forecast includes a possible dip to $1.5 for the crypto before any significant growth occurs.

In this discussion, let’s delve into several potential factors that might drive up the value of cryptocurrencies over the next few days.

Here’s Why XRP Price May Rally

Investors have been closely watching the price of XRP as the deadline for the US SEC’s filing of the opening brief in the Ripple lawsuit approaches. Furthermore, recent reports suggest that Ripple executives Stuart Alderoty and Brad Garlinghouse dined with Donald Trump, adding more excitement to the ongoing speculations.

At the same time, traders have seen a surge in speculation regarding the possible approval of an XRP Exchange Traded Fund (ETF). To provide some context, as Donald Trump was being inaugurated on January 20, optimism spiked among many about potential pro-cryptocurrency regulatory changes in the U.S. Additionally, recent discussions have been rekindled due to a dinner meeting, suggesting a positive outlook for Ripple and its associated cryptocurrency in the near future.

There’s speculation that the incoming US SEC Chair, Paul Atkins, might dismiss the Ripple SEC case. On the contrary, some people think a resolution in the XRP lawsuit could be close at hand under the new SEC leadership and following President Trump’s inauguration.

As a seasoned crypto investor, I can’t help but feel a sense of anticipation amidst the latest advancements in our field. However, the rollercoaster ride that the market has been on lately has certainly stirred some unease among us. In an effort to better understand where XRP might be headed, let’s delve into the critical factors supporting its price movement and potential milestones it may reach, as suggested by a knowledgeable analyst.

XRP Price Risks Falling To $1.5 Before Breakout

Ali Martinez, a respected market analyst, has warned that XRP’s price may experience a substantial drop. If XRP breaks below its triangle formation, it could trigger a steep fall. Martinez hypothesizes that under such circumstances, the value of Ripple’s native cryptocurrency might dip down to approximately $1.5, using the .618 Fibonacci level as an estimated bottom point.

1. This significant decrease raises worries among investors, but in a different article, Martinez stated that “XRP presents two possible opportunities.” This statement has attracted considerable attention from investors, particularly since he holds a positive long-term perspective on the digital currency. For clarification, the expert mentioned that “the first ascending trendline of the pennant is at $2.05.” Furthermore, he also highlighted another crucial entry point at $2.50.

Regardless of when someone enters the market or the current levels of support for XRP, this expert predicts a price of $10, demonstrating an increasing level of trust in the asset that is also boosting overall market optimism.

How’s Ripple’s Native Crypto Performing?

The price of XRP decreased by 0.55%, landing at around $2.31. At the same time, its trading volume surged by 30% to reach approximately $5.4 billion. It’s worth mentioning that within the last 24 hours, the value of XRP reached a peak of $2.33 and a low of $2.24. Furthermore, the value of XRP’s futures contracts saw a drop of 0.4%, totaling $4.25 billion, indicating a more reserved approach by investors.

Interestingly, while XRP experienced a decline today, the overall value of the global cryptocurrency market increased by approximately 2%. This increase coincides with Ripple Labs recently transferring 300 million XRP, equivalent to $682 million, which has sparked some speculation. However, it’s important to note that this transaction is widely considered an internal transfer of the token.

In the meantime, though there’s been a minor drop in its price lately, this cryptocurrency seems set for significant growth in the future. Additionally, the prediction by experts that it could reach $10 has added to the optimism among investors.

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2025-01-10 12:30