Cryptocurrency XRP is hogging the limelight following a 37.40% rally in the past 24 hours. XRP hit a yearly high of $0.46. In the monthly and weekly charts, the cryptocurrency has recorded gains of 76.71% and 67.28%, respectively.
This makes XRP as a major gainer in the past 30 days, followed by Litecoin (61.27%), Bitcoin (45.29%), LINK (40.43%) and Ethereum (38.29%).
As per an analyst who goes by the nickname Credible Crypto, the price correction recorded by XRP was “perfectly healthy.” In that context, he suggested cryptocurrency holders to study other indicators. Through a tweet, Credible Crypto shared the following image and opinion:
“(Relative Strength Index) RSI tells a story, pay attention to it. Selling $XRP now is like selling $BTC when it was at $197- before it ran to 20k.”
The analyst has issued a price target of between $25 and $30 for XRP. Nevertheless, he anticipates the price to be achieved in the long-term as the market spirals upward. Before this takes place, the analyst has forecast a 30% price correction. In that respect, he stated:
“You have the right idea for the pullback region. Many alts will dump hard but XRP/BTC is on support so it may not be affected as bad as other alts.”
A decline in the price of top cryptos by about 30% could signal a perfect opportunity for new investors to enter. The analyst believes that “XRP season” has begun and commented as follows:
“The floor on $XRP is in. If we somehow get a retest of the low .30 region, you take it. Slim chance we see sub .30 ever again (except maybe a cheeky wick if you are lucky). Congrats #xrparmy, it’s our turn now.”
Investors continue to have a bullish view of XRP. Investors continue to greet forecasts on XRP and some are capitalizing on the opportunity by selling a small portion of their holdings and booking profits. One XRP advocate has opined as follows:
“I love how you found the light my friend. Respect how you always questioned and searched for answers despite the hate and that way you found #xrp. Love, and respect. Keep fighting the good fight.”
