XRP Price Gears Up for 225% Rally, But There’s a Catch

XRP price wiped off its recent gains over the past few days, as evidenced by its weekly performance.

However, despite the gloomy momentum in Ripple coin value, one XRP price prediction has caught the eyes of traders.

In a recent analysis shared on X an expert hinted at a rally of over 225%, which has sparked discussions among traders.

Besides, it also comes amid a flurry of the latest positive updates surrounding Ripple, including the launch of REX-OSPREY XRP ETF and the robust volume it recorded at its debut have further fueled market sentiment.

That said, some analysts have also cited caution, and also highlighted crucial support level for XRP for continued upward momentum.

XRP Price Slips Amid Broader Crypto Market Selloff

XRP price slipped nearly 0.70% today in the last 24 hours and slipped below $3 mark to $2.98 during writing.

Its trading volume also fell 41% to $3.015 billion, indicating a dampened momentum in the market.

Notably, the recent plunge could be attributed to the broader crypto market selloff. During writing, the global crypto market cap fell around 1%, indicating a waning risk-bet appetite of traders.

On-chain data also reflects the gloomy sentiment hovering in the market now. According to CoinGlass data, XRP Futures Open Interest fell to $8.89 billion during writing.

In addition, the crypto has faced liquidation of $7.81 million in the last 24 hours. Notably, another factor that might have contributed to recent losses could be the recent BTC, ETH, and XRP options expiry, which The Coin Republic has reported recently.

Meanwhile, the investors’ cautious stance is further evidenced by the XRP price plunge of nearly 6% over the last seven days.

However, it has stayed in the green, adding around 3% in the monthly chart amid a positive XRP price prediction from a renowned expert.

XRP Price Prediction: Analyst Hints at 225% Rally Sparking Optimism

A latest XRP price prediction has caught the eyes of traders, with an analyst predicting a rally to as much as $20 or even higher.

Notably, in a recent analysis shared on X, expert Javon Marks noted that XRP is gearing up for a 226% rally to $9.90.

In addition, he noted that breaking the $9.9 level could trigger another robust run for Ripple coin to around $20.

This fueled optimism among traders, especially as the XRP market enthusiasts have long been waiting for the crypto to hit double digits.

Echoing a similar sentiment, analyst Cryptoinsightuk also said that XRP is primed to hit $9.69 if the bulls remain in control.

However, he has identified the $3.10 mark as a key support for the crypto that must be maintained.

The risks still prevail, as the XRP price slipped below the key support level at $3 currently.

For context, market expert EGRAG CRYPTO said that XRP price must not close below $3 support on the daily time frame to continue its bullish trajectory.

Meanwhile, he has predicted the possibility of the Ripple coin falling to $2.90 to $2.95 range. Despite that, he stressed that the crypto must maintain the $3 support so that it can continue its run to the north.