Is Ripple (XRP) price in danger? Analysts predict a violent crash

TL;DR

Ripple’s XRP has rallied of late, supported by positive news, although some analysts are warning of a possible sharp drop. Other experts remain bullish, expecting XRP to continue to rise, possibly reaching $0.66 soon. ‘The breakdown will be violent’

Ripple’s XRP has seen a substantial rise in the past two weeks, with its price increasing by 9% and currently trading around $0.58 (according to CoinGecko data).

XRP Price, Source: CoinGecko

Some of the main factors influencing the resurgence include Grayscale’s decision to launch a dedicated Ripple Trust and the US Federal Reserve cutting interest rates by 0.5% for the first time in four years. The second element benefited the entire digital asset sector, which turned green shortly after the announcement. Bitcoin, for example, briefly topped $64,000, while the global crypto market capitalization topped $2.3 trillion.

And while many analysts expect XRP to continue its uptrend in the near future, others predicted a painful scenario for the bulls. User X JACKIS recently predicted a “violent breakout” in the token’s price, warning investors to take action.

“The trend line is very weak and the spread is too long,” argued the popular trader.

Some of those commenting below the post did not share the same thesis, stating that XRP is poised for further gains. ALTSTEIN TRADE, on the other hand, described the prediction as an “interesting take”, predicting a “dirty” collapse if the asset’s valuation breaks down.

The optimists

As mentioned above, many other market watchers remain bullish because the price of XRP has yet to rise to new heights. User X Bitlord, for example, believes the token is poised to experience a “vertically parabolic explosion” in the near term.

“The amount of hate XRP gets is phenomenal. The fact is that the last time I called Ripple it moved a few billion. It’s over that too. Now I wish that party could start again” , they add.

Dark Defender and The Great Mattsby also chimed in. The former believes that XRP could soon reach $0.66, while the latter found similarities between the token’s price chart and the performance of Tesla (TSLA) during the 2010s.

During that decade, the stock’s value rose from less than $2 to $30. The massive EV continued to gain momentum in the following years, and today (September 24), TSLA shares are near $250. It’s an interesting comparison, especially considering the two assets have virtually no similarities.

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