As of the time of writing, the price of Bitcoin is trading at $36,400 after reaching $38,000. Ethereum (ETH) has also reached $2,050 after a long period. However, despite its court victory, XRP Coin is still silent. So, what is the current situation? What do experts expect for the price of XRP Coin?
Ripple (XRP) Analysis
At the time of writing, BTC experienced a rapid decline and dropped to $35,600. Losing about $2,000, BTC is entering exciting days of high volatility. The price of XRP Coin also dropped to $0.65 due to the impact of recent BTC sales. There is no specific reason for this surprise drop, and the price decline may continue with significant selling pressure.
Regarding the price of XRP Coin, most analysts shared their expectations for a rise in the popular altcoin. DefendDark predicts that XRP will reach its all-time high based on the Elliott wave chart.
According to the analyst‘s chart, the price of XRP Coin will reach the ATH journey in the fifth wave and is currently in the third wave. RealXRPWhale previously stated that the rally would continue with closing prices above $0.7. However, it is difficult to predict how the recent BTC decline will affect the daily closing on November 9th. BTC was targeting $38,400 just a few hours ago, but now it is trying to hold at $36,000.
Will XRP Coin Reach $1?
Despite the BTC decline, ETH price did not drop below $2,000, which raises the question of whether Bitcoin’s market dominance will weaken. Although it is still early, we see that BTC weakens after strong rallies and altcoins rebound, led by Ether. If such a process has begun, the recent BTC decline could be the catalyst for $1 for XRP Coin. We observe that the volume decreases for BTC and altcoins make double-digit rallies.
The levels of $0.68 and $0.74 are the initial targets to overcome. Above these levels, there are barriers at $0.93 and $1. Despite the XRP price prediction, if XRP Coin closes daily at its current levels, the price could drop to $0.55.
In summary, the daily closing we will see in the coming hours is critical for the $1 target and must be above $0.68.
