Short-Term Pain But Long-Term Rally for Ripple (XRP): Analyst

TL:DR;

Ripple’s native token is poised to pull back in the short term, but this could just be the start of another rally that will take it to a new all-time high, a popular analyst said. XRP has cooled off after recent gains and is actually down 10% for the week.

XRP took off a bit late after Trump’s decisive victory in the US presidential election, but once it did, it completely stole the show. At one point, its gains had topped 420% on a monthly basis as the asset climbed to a multi-year high of nearly $3.

As the community praised and celebrated the move in anticipation of a new all-time high ($3.4, according to CoinGecko), XRP’s momentum faded and began to gradually lose value. As mentioned above, the token is now in a weekly decline of 11% and its price is struggling to recover $2.4.

As a result, it lost its third place in terms of market capitalization to Tether. In addition, the popular analyst Ali expects another short-term decline.

$XRP: 3 bull flags in a row! We should all be praying for a retest of $2.25 to buy the $4.40 dip and target! pic.twitter.com/KgXnM929yk

— Ali (@ali_charts) December 9, 2024

However, the strategist remains very bullish on XRP’s long-term potential as he believes it will bounce off the $2.25 support and soar to a new all-time high of $4.4. That would put its market capitalization at more than $250 billion.

As previously reported, Ali also set even more bullish targets for XRP going forward, including a “conservative” $8.4 and a very outrageous $48.12.

With such bullish predictions for XRP’s price during this cycle, one can’t help but wonder if Ripple’s native token has the legs to overtake Ethereum (ETH) in terms of market cap.

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