XRP’s recent market woes are well-documented and have caused fear and uncertainty within the community. Closing January with a decline of over 18% and failing to capitalize on prior rallies, its current position appears bearish. However, amid the skepticism, some analysts maintain their bullish stance, outlining ambitious price targets and timelines.
Current Technical Landscape Paints a Bearish Picture
Despite the prevailing optimism, XRP’s technical indicators currently project a bearish outlook. Sentiment analysis from Changelly, a prominent U.S.-based crypto exchange, reveals a staggering 72% bearishness, reflecting investor uncertainty. Volatility stands at 4.64% over the last 30 days, with only 14 green days in that period.
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XRP is also trading below both the 50-day Simple Moving Average (SMA) at $0.556665, and the 200-day SMA at $0.557095, suggesting short- and long-term downward pressure. The 14-day Relative Strength Index (RSI) for XRP is currently 48.55, suggesting that XRP is currently neither significantly overbought nor oversold.
Despite these numbers, Changelly predicts a 22.39% surge for XRP, sending the digital asset to $0.654161 by February 14. However, they anticipate a subsequent correction, with February ending at $0.639343. Despite the potential decline, the closing price for February is still well above XRP’s current price of $0.5283.
XRP At The End of 2024 and Beyond
Changelly does not expect XRP to cross $1 this year, with a projected maximum price of $0.79122087. However, Changelly’s projections suggest XRP will finally surpass $1 in 2025, with a maximum price of $1.14. If XRP can’t reach this price, Changelly predicts an average price of $0.99620037 and a minimum price of $0.96230376, bringing it very close to $1.
The exchange expects XRP to continue a steady rise for the rest of the decade, and finally reach double-digit prices by 2031, with a maximum price of $10.83. It also predicts a minimum price of $9.23 and an average price of $9.56.
However, XRP could reach the double-digit price range sooner than Changelly expects, as a top analyst recently predicted a surge to $27.
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Read Also: XRP Finally Attempting to Regain Some of Lost Positions. How Long From Here?
Triple-Digit Targets
Changelly expects XRP to surge significantly between 2031 and 2040, with a predicted minimum price of $339.68, an average of $366.56, and a maximum price of $413.80 by 2040. Crossing into triple-digit territory will be a significant milestone for XRP. Consulting Google Bard, it gave a similar timeline, predicting XRP could reach triple digits between 2045 and 2060.
However, some in the market believe XRP has greater potential, as a notable figure once predicted that XRP could reach $10,000 if it can become a bridge currency for Central Bank Digital Currencies (CBDCs).
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