A leading market analyst forecasts XRP price to reach $4.50 soon, fueling optimism for a Ripple rally despite recent market fluctuations.
In the past 24 hours, the XRP price has experienced significant volatility, with a loss of approximately 12% in value.
The asset’s price decline coincides with a more extensive crypto market collapse, suggesting that investors’ risk appetite is diminishing.
Nevertheless, the market analysts are optimistic about the future trajectory of Ripple’s native crypto, despite the recent pullback.
To provide context, a prominent figure in the crypto market recently predicted in a post on X that XRP will reach $4.5 within a potential timeline.
XRP Price Is Expected To Reach $4.5, According To Leading Expert
Investors sentiment has been adversely affected by the recent decline in the price of XRP, with numerous individuals anticipating an additional decline.
Nevertheless, it seems that the recent crypto market collapse is a component of its ongoing upswing.
For context, during the ongoing crypto market surge, several experts have previously predicted that Bitcoin and the top altcoins will experience some pullbacks.
However, Ben Armstrong, also known as The BitBoy, a market expert and renowned figure in the crypto market, shared a bullish forecast for XRP, despite this.
The influencer stated that Ripple’s native crypto is preparing for a forthcoming breakout.
BitBoy recently stated in a recent X post that XRP is on the brink of reaching $4.50 by the end of the year or as early as January 2025.
After a recent robust rally in the price of the cryptocurrency, this comment has sparked optimism in the market.
Last week, Ripple’s native crypto reached a high of $2.9, which suggests that the market is confident.
However, it is still awaiting the opportunity to surpass its all-time high of $3.84, which was established in 2018.
This comment is also made in the context of the increasing anticipation for a pro-crypto regulation in the United States following Donald Trump’s election victory.
Furthermore, the market sentiment has been further bolstered by the resignation announcement of Gary Gensler, the US SEC Chair, who is widely perceived as an anti-crypto regulator.
What’s Up Next For Native Crypto On Ripple?
Today, the price of XRP decreased by nearly 12% and was trading at $2.12.
However, its one-day trading volume increased by 57% to $21.42 billion.
The cryptocurrency has achieved a 24-hour peak of $2.46, which is particularly noteworthy.
Additionally, the broader market’s pessimism resulted in a 22% decline in XRP Futures Open Interest.
It is important to note that the broader crypto market has experienced significant liquidation, as investors seem to be taking a break following the recent robust rally.
Additionally, Ali Martinez, a prominent cryptocurrency market expert, has recently emphasized that XRP is on a favorable trajectory.
Martinez recently stated in a post on X that Ripple’s native crypto is likely to descend to the $2.25 level, which would offer investors a purchasing opportunity at a reduced price.
Furthermore, he stated that the asset’s price will aim to reach $4.40 after the decline, which has sparked market optimism.
Furthermore, EGRAG CRYPTO, another distinguished market analyst, also provided a critical analysis of XRP.
The analyst observed that XRP could continue its upward trajectory after closing above $2.70 shortly.
Additionally, he observed that $1.96 is a critical threshold for Ripple’s native cryptocurrency, and it is imperative to maintain this level. In other words, the analyst stated that XRP could continue its upward trajectory as long as it remains above the $1.96 level.
