- Altcoin XRP dips closer to $1 price range.
- This leads analysts to believe targets below $1 is likely next.
- Can the price of XRP set new ATH prices by August?
The crypto market continues to see the prices of nearly every asset in the space falling to lower highs. No doubt, this dip is prices is caused by the continuous drop in value on both the BTC and ETH price charts. At the moment, even altcoins that were performing well over the last few weeks have also entered a phase of decline as market sentiments settle in the fear state. Presently, altcoin XRP dips closer to $1 price range.
Altcoin XRP Dips Closer to $1 Price Range
According to analytics, the price of XRP is currently trading in the $1.11 price range, marking a decline of over 3% in the past 24 hours. On a greater scale, XRP is currently experiencing a price decline of over 14% in the last 7 days and over 21% in the last 30 days, showing a steep and steady fall in prices. This decline in the eyes of many market experts will allow XRP to set a bottom under $1 targets and bounce back to new ATH prices.
As we can see from the post above, this XRP enthusiast and popular crypto analyst shared his expectations for XRP’s next moves when the asset hit the $1.16 price range. Here, he shares what he sees will play out next starting with the weekly Fibo 0.786, where XRP price has already touched twice, meaning the descending trend line from ATH is already broken and waiting at the $1 p[rice range. This area is full of liquidity, which could propel XRP back up to higher prices.
Analysts Believe Targets Below $1 Is Next
Thus, in the eyes of this expert, the market is going to hunt that $1 price range, meaning more sell offs will occur so XRP can finally hit that liquidity high target. To make the best of this range, XRP might even sink a little lower than $1, just enough to break retail psychology, leading to the real bullish move to begin. Furthermore, the post talks about the Clarity Act acting as a catalyst for the sure. The post concludes by highlighting July 4.
Meanwhile, several other XRP enthusiasts and altcoin experts add to the same narrative, where they expect XRP to dip further before entering a bullish wave 4 price pump phase. As we can see from the post above, this expert says to pay close attention to the RSI at the bottom as highlighted in the chart accompanying the post. Here, he sheds light on the green flash happening only when the RSI hits extreme lows.
In the entire history of this chart, this has only happened twice. The first time was in 2022, leading to a steady surge in XRP price, and the second is now. Once XRP steadies at a slightly lower price range, it will enter a Wave 4 completion phase, where extreme buying will lead to possible ATH targets being hit, starting with the bull target of $4.47, and above. Can XRP set a new ATH by August?
