Despite XRP (CRYPTO: XRP) recently slipping below the $3 mark, trader sentiment remains resilient, with expectations that the altcoin could initiate a significant rally later this year.
Crypto analyst CrediBULL Crypto highlighted on Friday that while short-term charts may display weakness, the long-term outlook for XRP remains strongly bullish. He outlined a scenario where a decline below $2.65 could occur if Bitcoin drops beneath $105,000; however, this potential dip would not undermine XRP’s favorable higher timeframe setup. A temporary pullback to the $2 to $2.40 range could align with broader market corrections, setting the stage for a swift recovery as overall market conditions improve. Analysts believe XRP is poised to be one of the first cryptocurrencies to rebound, which could help it move toward achieving new all-time highs.
Backing this optimistic view, trader DonAlt shared a similar sentiment, asserting that XRP’s cycle would not conclude without a pronounced “full ballistic” move. He identified an invalidation level at $2.20, planning to capitalize on potential profit opportunities if the price reaches that mark, projecting gains of around 3x.
Supporting the bullish case, crypto chart analyst Ali Martinez emphasized that $2.70 serves as a crucial support level that could validate a rebound toward $3.20.
In another notable development, XRP’s inclusion in the Hashdex Nasdaq Crypto Index ETF—alongside other cryptocurrencies like Solana and Stellar—enhances its institutional exposure and liquidity within U.S. markets. Nevertheless, market fluctuations have led to significant liquidations, with Coinglass data reporting over $18.27 million in XRP liquidations in the past 24 hours. This statistic includes $16 million in closed long positions amid the recent downturn, underscoring a level of trader capitulation in light of current market conditions.
As market participants navigate this complex landscape, many are closely watching XRP’s movements, anticipating the potential for a strong recovery as broader crypto market trends shift.
