The crypto currency market has experienced a major collapse in the recent period, and XRP has been seriously affected by this decrease. However, some analysts think that these harsh movements may be a harbinger of a new rise. In particular, the XRP, which maintains $ 2, may surprise its investors in the coming days.
XRP Price Collapse: What happened?
The latest market collapse affected all crypto currencies and a total of $ 2.2 billion liquations took place. In this process, the XRP quickly fell from $ 3 to $ 1.76. While investors were selling panic, large buyers saw the fall as an opportunity.
The analyst warned an 40 %decline for XRP at the end of January. The scenario he expected took place and the price went down to critical levels. But now, he says that the XRP has gained strength again and can make a new move towards $ 3.
Market experts interpret the future of XRP
Famous market analyst Dom says the lack of liquidity is the lack of liquidity that accelerates the decline of XRP. When large sales orders arrived, the price fell rapidly because there was not enough buyers.
However, after the fall, buyers came into play again and provided the price to recover. Within one hour, XRP gained 29 %and increased over $ 2 again. According to DOM, this can be explained by a ‘vacuum effect’ which is common in the crypto market.
Critical levels for XRP investors
Analyst Anbessa thinks that XRP is currently under consolidation. Despite the uncertainty in the market, he says that the bull market continues. If this level is exceeded, a new purchase opportunity may occur for investors. Currently, XRP is trading at $ 2.34 and volatility is gradually decreasing.
Now the eyes are in XRP’s next move! If bulls take control, the $ 3 level may become a target again. However, as long as the uncertainty in the market continues, investors need to be cautious. In the coming days, the increase in transaction volume may play a critical role in determining the direction of XRP and the long -awaited upward journey may begin.
