XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Despite the correction, many analysts remain optimistic about XRP’s potential to regain momentum, while others predict a deeper retrace before any significant rally. The market appears divided, with bulls eyeing a potential breakout and skeptics bracing for a quiet sell-off.
Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout
Crypto analyst Harry weighed in on the discussion, sharing a detailed technical analysis on X. He highlighted that XRP could target a $4 price once it completes a deeper retracement. Harry’s analysis suggests that while bullish sentiment remains valid, the path forward might require additional consolidation or even a short-term dip to reset market conditions.
This divergence of opinions underscores the uncertainty surrounding XRP’s price action. Will the retrace provide a launchpad for the next rally, or will it pave the way for prolonged bearish pressure?
As XRP hovers near key levels, the coming days will determine whether bulls or bears gain control. For now, XRP holders and traders must watch these movements closely, as the token’s future hinges on breaking this current stalemate.
Price Action Signals Storm Before The Run
XRP has recently faced a significant retrace, and many analysts believe further correction or consolidation could be on the horizon before a bullish continuation occurs. After reaching high levels, the token pauses, with some experts forecasting a stabilization period. However, the bullish camp remains hopeful, anticipating new highs in the coming months as buy-side pressure builds.
Top analyst Harry shared his insights on X, pointing out that XRP has yet to retest the critical $1.96 breakout level. Currently, the price is hovering between $1.96 and the 2017 all-time high of $2.77. According to Harry’s technical analysis, this positioning indicates growing bullish momentum.
He further suggests that if XRP’s current flag formation breaks to the upside, the token could be poised for a powerful rally toward new highs.
Related Reading
This analysis follows weeks of speculation surrounding XRP’s price trajectory, especially in the wake of Bitcoin’s volatile movements. BTC…
Click Here to Read the Full Original Article at NewsBTC…
