The cryptocurrency XRP, which saw a meteoric rise during the rally in 2017, has not brought significant gains to its investors since then. While there have been occasional increases, these have been quite limited compared to other cryptocurrencies. Predicting what XRP will do in a potential rally season ahead is difficult, but past experiences suggest not to expect much from this cryptocurrency. Despite low expectations, comments about XRP continue to come in. Here is a recent analysis of XRP.
Love and Hate Phase for XRP Coin
An analyst using the name PennyBritish on X comments that XRP coin evokes either love or hate. According to the analyst, who shows a long-term XRP chart, XRP seems to be on the verge of a significant breakout. If the breakout occurs, the expectation for XRP is a rise towards the 2-dollar level.
The analyst’s mention of love or hate in the context of XRP is not without reason. Looking at the drawn line, XRP has been moving downward in the long term. This situation has inevitably tired XRP investors.
Such a long-term expectation must have inevitably wearied the lover. Consequently, when the lover gets tired, the resulting emotion inevitably turns into hate. From this perspective, the analyst’s comment is beautifully summarized in two words: Love or hate.
Analyst’s Expectation for XRP is Reasonable
I must note that the analyst’s expectation here is within reasonable limits. The line drawn on the chart being in the 1.5-2 dollar range is seen as an achievable target for Ripple (XRP) in a bull season. Keeping targets reasonable should become the primary factor to avoid damaging investor confidence. Therefore, I openly criticize those who occasionally make price predictions of 500 dollars for XRP.
At this point, especially those new to the cryptocurrency field and just getting to know the area should be cautious of such price predictions. On the other hand, external factors like the ongoing lawsuit with the SEC will also affect the price trajectory of XRP.
That’s why I framed the analyst’s prediction within a reasonable context. As we saw in the example of the court ruling last summer stating that XRP is not a security, the price of XRP can quickly reach 1 dollar if a positive outcome occurs. However, it must be reiterated that XRP is a cryptocurrency that tires its lovers.
