XRP Price Prediction: Can Bulls Save the Day Above $2.13?
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Crypto analyst CasiTrades predicts a potential short-term price increase for XRP, but only if bulls can defend the crucial $2.13 support level. XRP has recently experienced a price correction, dropping over 7% in the past week. CasiTrades' analysis suggests a scalp trading opportunity with an entry point around $2.20 and a target of $2.253. This setup aims to capitalize on a potential quick price relief, although a surge beyond $2.253 could indicate stronger bullish momentum with potential targets at $2.333, $2.395, and $2.456. However, a decisive break below $2.13 would invalidate this setup and could lead to further price declines, with the next support around $1.77. Currently, XRP trades at $2.14, below its 200-day moving average, suggesting a potential downward trajectory. The daily trading volume has increased significantly, indicating increased selling pressure. Despite this, the Relative Strength Index (RSI) at 36.47 is approaching the oversold region, hinting at a possible price rebound towards $2.30. While CasiTrades focuses on a short-term scalp trade, another analyst, Crypto V, holds a bullish long-term outlook for XRP, projecting a market cap of $790 billion before 2025. This divergence in perspectives highlights the uncertainty surrounding XRP's future price movements. The situation emphasizes the importance of risk management and careful consideration of both short-term and long-term market trends before making any investment decisions.
