Ripple’s native token XRP is down close to 20% in a month. The downturn indicates that the bull run could be over as its price is on a slippery slope. While bulls were expecting the leading altcoin to breach the $4 mark, it now looks like it could fall below the $2 range. Investors are skeptical of taking an entry position, believing that the altcoin is yet to bottom out in price.
Also Read: AI Models Reveal How Ripple May Surpass Rival Cryptos
Will XRP Rise Again?
Yes, XRP will rise again, and that’s the way the market functions in a cyclic manner. The rise, fall, and sideways trading is the norm, but the million-dollar question is, how long will it last? Nobody, not even a seasoned investor, can crack the market timing, as it’s the only thing that cannot be tamed or controlled.
Also Read: Canary Capital Sets Nov. 13 Launch for XRP ETF After SEC Shift
Leading on-chain metrics and price prediction firm Wallet Investor has painted a bearish picture for XRP. According to the price prediction, the altcoin has more chances of falling to the $2.2 level in the next two weeks. That’s a downturn of close to 8% from its current price of $2.4. An investment of $1,000 could turn into $920 mid-November, according to the forecast.
The estimates suggest that XRP also stands at risk of plunging to the $2.069 price range. The projection indicates that a round of sell-off could trigger a fresh wave of panic, leading to investors jumping ship. This could lead to further downturn, standing at risk of falling to the $2 range.
Investments in the altcoin have slowed down, with interest growing in Solana, Binance Coin (BNB), and Bitcoin. In conclusion, it is best to avoid taking an entry position in XRP now and wait for it to bottom out. The best entry level could be either at $2.2 or at the $2 price point.
