Analysts continue to believe in the potential price surge of XRP, predicting that it is still feasible that the crypto will hit the $3 mark.
A market observer even claimed that XRP is on track for a massive price rally in the ongoing digital asset bull market as many cryptocurrencies are hitting all-time highs due to the positive outlook on the industry.
XRP Could Hit $3
Analysts are confident that XRP is still on the way to reaching $3 per coin, saying that the recent pullback in its price does not dampen the enthusiasm of market experts on crypto.
They added that despite the price dip, investors continue to have a positive sentiment on its future.
WallStreetBets, a pseudonymous analyst, emphasized in a post the significance of being bullish on XRP as the coin experiences the ebbs and flows before being catapulted to the $3 level.
“If you’re not long XRP right now, you don’t respect yourself,” WallStreetBets wrote in an X post.
If you’re not long XRP right now, you don’t respect yourself.
— wallstreetbets (@wallstreetbets) December 2, 2024
Precursor To New Heights
Analyst CW believed that the current pullback being experienced by XRP could be a precursor for something great for the coin, saying that it could propel the crypto to even greater heights.
CW predicted that the next target for XRP could be $3.75 once the correction is concluded.
If the $XRP correction is complete, the next target is $3.75.
There may be a correction near the ATH. And it will renew the ATH. pic.twitter.com/Zmfk5OP3rX
— CW (@CW8900) December 5, 2024
For WallStreetBets, XRP slipping at the low end of $2 could be a good sign for those who have not invested in the crypto, arguing it could be viewed as giving them a chance to join the XRP community.
“XRP took a step back today, allowing anyone who missed the train to have a second chance,” WallStreetBets explained.
Data shows that in the last three days, XRP decreased by nearly 16% and is currently being traded at $2.3. Despite this correction, WallStreetBets and other analysts are still optimistic about the crypto, seeing the pullback as preparing the coin for a prolonged uptrend.
Getting Through The Resistance Level
Market observer Dom said that the resistance level being experienced to reach $3 would not be easily surpassed, saying that it could be a gradual progress.
The analyst said that the current behavior of the crypto matches his earlier predictions of consolidation and range formation.
Other crypto analysts explained that XRP’s price rally is similar to the explosive growth investors have witnessed in 2017. They forecasted that XRP would increase to $2, which would be followed by a pullback, adding that the next phase would be a continuation toward a cycle peak that could allow it to hit $10.
Featured image from DALL-E, chart from TradingView
