Technical analysis

Insane Predictions for XRP Loom Over the Crypto Space: Will XRP Price Reach $589?

XRP is one of the major tokens in the crypto space and hence is believed to kick-start a fine upswing very soon. As the Bitcoin price kicked off a notable upswing and formed highs beyond $28,000 recently, the speculations of the star crypto hitting a million began to loom over the markets.

In the meantime, the $589 target has again gained significant attention from the XRPArmy while some of the more popular analysts present the basis for the speculation. 

Bitcoin’s recent jump beyond $28,000 sparked optimism among other investors, while industry giants continue to predict the BTC price will rise to $1 million in 90 days.

This speculation sparked the argument about why the Bitcoin price target is not considered insane. Recently, David Gokhstein made a case for XRP’s following the $1 million target for BTC. 

Meanwhile, Gokhsteim dismissed the narrative that Bitcoin may reach its target or not, at least in the next 90 days. XRP, on the other hand, is gaining more traction as a good platform for cross-border payment and hence is believed to explode once the CBDC hype resurfaces. Considering the current stands, the XRP price is trading under a notable bearish influence and is believed to remain for some more time ahead. 

As mentioned before, the XRP price is forming constant higher highs and lows, maintaining a notable descending trend. The price is further believed to drop below $0.35 or may even test the lower support at $0.33, post to which it is believed that the price may trigger a rebound and reclaim the levels above $0.35 initially and may also hit $0.4 in the coming days. 


fbq(‘init’, ‘887971145773722’);
fbq(‘track’, ‘PageView’);

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this: