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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Jan 18, 2024 14:09 UTC
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XRP on Shaky Ground: Can THIS Key Support Hold or Is a Sell-Off Coming?
XRP currently sits at $0.56, near resistance at $0.60, despite a slight dip.
Analyst warns this level must hold or XRP could drop to $0.34.
Analysts predict potential rises to $5 and even $7-$8 in the future.
The cryptocurrency market is buzzing with excitement right now! XRP has taken center stage with a current valuation of $0.56, eagerly eyeing the formidable $0.60 resistance level. Despite a minor setback of -1.70% in the last 24 hours, XRP maintains its robust position with an impressive market capitalization of $30.5 billion.
What could these moves mean for you?
Struggling at $0.55
In a recent tweet, prominent crypto analyst Ali_Chart sounded the alarm for XRP enthusiasts, noting that the digital asset is currently wrestling to maintain stability at the crucial $0.55 support level. Meanwhile, this support level has been a key area of interest, and its ability to serve as a support or breakdown could have significant implications for XRP’s short-term price action.
According to Ali_Chart, the fate of the $0.55 support level hangs precariously, and a failure to hold ground could trigger a potential sell-off, pushing XRP toward $0.34.
While urging patience, analysts paint a promising picture of XRP’s trajectory, outlining an initial bullish target of $5, followed by an ambitious long-term goal ranging from $7 to $8.
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