The price of XRP, Ripple’s cryptocurrency, has dropped by 20% this week, falling from $0.74 to $0.61 in just five days. This large fall has led many in the XRP community to question the token’s viability, especially while other blockchain projects such as Solana reach new highs.
@WenMoonTok, a strong XRP critic, voiced outrage on Twitter, writing, “XRP’s utility has left us out in the desert alone to perish. Meanwhile, everyone in SOL is profiting from the great meme coin rebirth of ’24. Make sure it makes sense. Frustrating.”
However, opposing viewpoints indicate underlying strength and bullish enthusiasm. According to @MarketProphit’s research, both public mood and “smart money” indicators are optimistic for XRP, indicating the possibility of a resurgence.
@Doctor_Magic_, an XRP expert, sees the recent dip as an opportunity to reload long positions. They have set a short-term target of $1.20 but expect XRP to break its earlier all-time high in 2024, with momentum potentially taking it even higher from then.
Another XRP influencer, @RalstonMax, recommends following the long-term chart rather than “riddlers” or “influencers.” Despite conceding that the tweet may be unpleasant, they believe that XRP’s long-term candles appear constructive and that “the market needs this pullback” before continuing upward, declaring “We’re close.”
Amidst the divided opinions, a key issue emerges: How far may XRP rise in 2024 if the bullish estimates are correct? While $1.20 has been discussed as a short-term target, expectations of smashing past all-time highs suggest that XRP might trade far into the $3-$4 zone this year in a protracted bull run.
As the Ripple crisis unfolds and traders analyze the latest 20% drop, keeping an eye on changing market sentiment will be critical for those hoping to profit from XRP’s next big move.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
