bullish

The post <a href="https://coinpedia.org/news/xrp-price-prediction-analyst-predicts-fiery-short-term-action-with-11-xrp-target-by-2025/" rel="noopener noreferrer nofollow">XRP Price Prediction: Analyst Predicts Fiery Short-Term Action with $11 XRP Target by 2025</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Ripple’s XRP is gearing up for some short-term action. The coin might see a quick rise before it dips again. Looking ahead, there’s hope for a bigger move towards $0.75 to $0.85, but the ongoing SEC case will be a key factor in shaping its future.
<a href="https://www.youtube.com/watch?v=ASqMR-WexCs" rel="noopener noreferrer nofollow">Analyst Cheeky Crypto</a> said that XRP has been oscillating between the high range of $0.66 to $0.75 and the accumulation zone between $0.33 to $0.46. This range-bound behavior is expected to continue until there is more clarity on the legal front.
Potential Breakout Scenario
The price action suggests that XRP might experience an upward breakout, possibly negating previous bearish expectations. The next potential target could range between $0.60 and $0.61, where the price might face resistance before potentially heading lower again.
On a micro time frame, XRP is in a bullish structure with a strong low and weak high, suggesting that there might be more room for the price to run higher. The next move could see XRP touching the $0.609 to $0.612 range before a likely rejection from the downward trendline.
The downward trendline has consistently acted as resistance, and the Stochastic RSI on both the daily and weekly time frames is overbought. This suggests that the market might be due for a shift to the downside.&nbsp;
If XRP fails to hold the $0.51 to $0.52 support level, it could drop to $0.47, aligning with the lower boundary of the wedge. Despite the short-term bearish signals, the overarching corrective pattern indicates a breakout towards the $0.75 to $0.85 range in the medium term.
However, the analyst said that looking ahead, assuming the SEC case concludes favorably for Ripple, XRP could target $5.59 to $11.25 by 2025.

XRP Price Prediction: Analyst Predicts Fiery Short-Term Action with $11 XRP Target by 2025

CoinPedia News

Other articles published on Aug 23, 2024

Garanti BBVA Adds XRP

Cardano Price Prediction: ADA Eyes $0.5 Amid Pump.Fun Derivative

Bitcoin Price Surges Towards $62k as Fed Chair Jerome Powell Declares ‘Time for Policy Adjustment’

Justin Sun’s energy cap and fee reduction proposal has been drafted, voting to commence

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

Binance Influences Market with New Listings

Join our free newsletter for daily crypto updates!