Crash

TL;DR
<ul>
 <li>Ripple’s XRP has risen lately, supported by positive news, though some analysts warn of a potential sharp decline.</li>
 <li>Other experts remain bullish, expecting XRP to continue climbing, possibly hitting $0.66 soon.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-09-xrp_cb-44-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP_CB-44.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="the-breakdown-will-be-violent">‘The Breakdown Will be Violent’</h2>
Ripple’s XRP has experienced a substantial uptick in the past two weeks, with its price increasing by 9% and currently trading at around $0.58 (per CoinGecko’s data).
<figure id="attachment_362147" aria-describedby="caption-attachment-362147" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-362147" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16.png" alt="XRP Price" width="581" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16.png 1047w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16-300x207.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16-1024x705.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16-768x529.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-Price-16-50x34.png 50w" sizes="(max-width: 581px) 100vw, 581px"></a>
 <figcaption id="caption-attachment-362147" class="wp-caption-text">
 XRP Price, Source: CoinGecko
 </figcaption>
</figure>
Some of the main factors playing a role for the resurgence include Grayscale’s decision to <a class="editor-rtfLink" href="https://cryptopotato.com/xrp-price-skyrockets-7-as-grayscale-launches-dedicated-ripple-trust/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">launch</a> a dedicated Ripple Trust and the US Federal Reserve which decreased interest rates by 0.5% for the first time in four years. The second element benefited the entire digital asset sector which flashed green shortly after the announcement. Bitcoin, for instance, briefly surpassed $64,000, while the global crypto market capitalization exceeded $2.3 trillion.
And while many analysts expect XRP to continue its uptrend in the near future, others predicted a painful scenario for the bulls. The X user JACKIS recently <a href="https://x.com/i_am_jackis/status/1838172458739736779" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">forecasted</a> a “violent breakdown” for the token’s price, warning investors to take measures.
<blockquote>
 “The trendline is super weak &amp; the distribution is too long,” the popular trader argued.
</blockquote>
Some of those commenting below the post did not share the same thesis, claiming XRP is poised for further gains. ALTSTEIN TRADE, on the other hand, <a class="editor-rtfLink" href="https://x.com/Altsteinn/status/1838174663513416182" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">described</a> the prediction as an “interesting take,” envisioning a “rough” collapse if the asset’s valuation breaks down.
<h2 id="span-data-preserver-spaces-true-the-optimists-span">The Optimists</h2>
As mentioned above, many other market observers remain bullish that XRP’s price has yet to soar to new dimensions. The X user Bitlord, for example, <a class="editor-rtfLink" href="https://cryptopotato.com/ripple-xrp-headed-for-a-parabolic-explosion-analysts-chip-in/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">thinks</a> the token is ready to experience a “parabolic explosion vertically “in the short term.
<blockquote>
 “The amount of hate XRP gets is phenomenal Fact is, last time I called&nbsp;Ripple&nbsp;it moved a few billion.&nbsp;Topped&nbsp;it, too.&nbsp;Now I’d like to see that party start up again, ”&nbsp;they added.
</blockquote>
Dark Defender and The Great Mattsby chipped in, too. The former thinks XRP could soon hit $0.66, while the latter <a class="editor-rtfLink" href="https://cryptopotato.com/ripple-xrp-headed-for-a-parabolic-explosion-analysts-chip-in/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">found</a> similarities between the token’s price chart and the performance of Tesla (TSLA) during the 2010s.
Over that decade, the stock’s value surged from under $2 to as high as $30. The EV behemoth kept gaining momentum in the years that followed, and today (September 24), TSLA shares are close to $250. It’s an interesting comparison, especially considering the two assets have virtually no similarities.
&nbsp;
The post <a href="https://cryptopotato.com/ripple-xrp-price-in-danger-analyst-forecasts-violent-crash/" rel="noopener noreferrer nofollow">Ripple (XRP) Price in Danger? Analyst Forecasts Violent Crash</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ripple (XRP) Price in Danger? Analyst Forecasts Violent Crash

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