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Ben Armstrong, a well-known crypto analyst, believes that this moment could be the last opportunity to buy XRP at a low price range. He predicts that XRP could reach $1 or revisit the $2 range before the upcoming Bitcoin halving. XRP is currently struggling with a downward trend, having fallen over 8% in the last 24 hours to $0.6017. Let’s take a look at the analyst’s comments.
Is This the Last Chance to Buy XRP?
While XRP is at the $0.6017 level, renowned crypto analyst Ben Armstrong argues that now might be the last chance to jump on the XRP train at this low price range. Armstrong expressed this view in a new video where he analyzed various tokens with the potential for a rapidly growing bull market.
As of writing this article, XRP has experienced a decline of over 8% in the last 24 hours, battling a downward fluctuation. Meanwhile, Armstrong expects an explosive rally for XRP that could shock market participants. He claims that after reclaiming the $0.70 level, XRP is set up for a rise to the $1 threshold and beyond.
Three Scenarios for Ripple (XRP)
Armstrong also speculated on three potential scenarios for XRP leading up to the Bitcoin halving, which is expected to occur in about 40 days. In his first prediction, Armstrong suggested that XRP could revisit its all-time high of $3.84 before the April halving, although he maintained a moderate level of confidence in this outcome.
On the other hand, Armstrong proposed that if XRP fails to reclaim its all-time high, it could test the $2 mark before the Bitcoin halving. According to Armstrong’s third scenario, XRP should at least reach the $1 target before the Bitcoin supply is halved. Considering XRP is trading at $0.6017, reaching $1 would require approximately a 66.1% gain.
Gloomy Outlook for the Crypto Market
Armstrong painted a gloomy picture for the crypto market on the road to the halving. He pointed to the potential for a downward momentum in the one or two weeks before the halving, suggesting that the current bullish trend could end around the close of the first quarter, around the end of March.
The analyst indicated that after the anticipated downturn, market participants could expect more significant gains before the end of the bull season next year.
