Despite having hit rock bottom, an analyst stated that the price of $XRP will rebound and reach this incredible figure
The statement comes at a time of marked weakness for the asset
Analyst Crypto Patel, known for predicting the more than 600% rally of XRP in the previous cycle, stated that the cryptocurrency is close to a floor and maintained his long-term projection around 10 dollars.
The statement comes at a time of marked weakness for the asset. Since the peak reached in July, $XRP has registered a correction of over 60% and has been showing a sequence of support breaks that have reconfigured its short-term technical structure.
According to the analysis shared by Patel, the current movement should be interpreted within a logic of accumulation and not as an invalidation of the underlying trend. In the two-week candlestick chart, the analyst identifies that the correction is around 58% from the last peak, a level that places the price within a first key zone between 1.50 and 1.30 dollars.
In that range, the proposed strategy does not aim to capture an exact minimum, but to gradually build a position as the price finds stability. For Patel, this is a transition stage in which the market begins to absorb the accumulated selling pressure during the corrective phase.
The contemplated scenario includes a deeper alternative. If $XRP loses the 1.30 dollar zone, the analyst points out a second accumulation area situated between 0.90 and 0.70 dollars. That movement, far from nullifying the bullish projection, would reinforce the long-term positioning opportunity under his technical approach.
Despite the bearish context, Patel kept his final target unchanged around 10 dollars. In that sense, he clarified that purchases at levels of 3 or 2 dollars are not attractive in the face of potential sharper declines, where the return potential would be greater.
The statement comes at a time of marked weakness for the asset
Analyst Crypto Patel, known for predicting the more than 600% rally of XRP in the previous cycle, stated that the cryptocurrency is close to a floor and maintained his long-term projection around 10 dollars.
The statement comes at a time of marked weakness for the asset. Since the peak reached in July, $XRP has registered a correction of over 60% and has been showing a sequence of support breaks that have reconfigured its short-term technical structure.
According to the analysis shared by Patel, the current movement should be interpreted within a logic of accumulation and not as an invalidation of the underlying trend. In the two-week candlestick chart, the analyst identifies that the correction is around 58% from the last peak, a level that places the price within a first key zone between 1.50 and 1.30 dollars.
In that range, the proposed strategy does not aim to capture an exact minimum, but to gradually build a position as the price finds stability. For Patel, this is a transition stage in which the market begins to absorb the accumulated selling pressure during the corrective phase.
The contemplated scenario includes a deeper alternative. If $XRP loses the 1.30 dollar zone, the analyst points out a second accumulation area situated between 0.90 and 0.70 dollars. That movement, far from nullifying the bullish projection, would reinforce the long-term positioning opportunity under his technical approach.
Despite the bearish context, Patel kept his final target unchanged around 10 dollars. In that sense, he clarified that purchases at levels of 3 or 2 dollars are not attractive in the face of potential sharper declines, where the return potential would be greater.
