After its momentum over the past few weeks, analysts continue to forecast Ripple. Many think that the XRP price rally is gradually fading. One analyst specifically points to the TD Sequential indicator, which previously had more than 25 signals. Here are the details…
Analyst Ripple Forecast: Corrected to $0.39
In a tweet Monday, crypto analyst Ali Martinez pointed to the drop in XRP price. The analyst warned that the cryptocurrency would fall to the $0.42 or $0.39 price point. “TD Sequential is providing a sell signal on the XRP 3-day chart, predicting a correction to $0.42 or even $0.39,” Martinez wrote. cryptocoin.com As we have reported, TD Sequential has made accurate price predictions.
Meanwhile, another popular crypto trader, Profit Blue, shared a similar analysis today. The analyst said that the token is about to break a key 4-hour trendline. He explained that Ripple may be heading towards the neckline of a newly formed double-top formation. It’s worth noting that this cutout is in the $0.42 price range.
These developments are at the heart of the XRP community.
The XRP token saw a massive rally over the weekend. It stood out from the rest of the crypto market and has gained 40 percent in the last 30 days. The asset traded above the 0.52 price point. The token has been full of positive emotions over the past few weeks. About 3,000 new addresses were created on the network on Thursday before the price started to rise. This metric posted its highest 24-hour growth since July 2.
There is one major development in focus for the XRP and XRP community: the SEC lawsuit. Ripple has been dealing with a lawsuit from the US Securities and Exchange Commission (SEC) since December 2020. The securities regulator is accusing Ripple of selling XRP as an “unregistered security.” However, Ripple says that XRP is not a security but a commodity like most other cryptocurrencies. The community hopefully awaits positive news from the Ripple and SEC case.
Additionally, the Flare network rewards is preparing to distribute tokens to XRP holders via an airdrop. This is another development that has got the XRP community excited over the past few days. At the time of writing, XRP has lost 6.1 percent over the past 24 hours. In sixth place with a market value of $24.1 billion, XRP is up 4.5 percent over the past 7 days. That is, its monthly earnings were neutralized by the general market situation.
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