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XRP ready for a move to this price level? XRP Bullish Prediction

Fast Take
  • Ali Martinez shared a new bullish prediction for the price of XRP
  • Ripple's native token has suffered some drops in recent days
  • Analysis suggests a possible rise in XRP price to $0,65 or $0,66
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Cryptocurrency expert Ali Martinez shared a new prediction for a rally in XRP on November 23. The analyst highlighted the analysis of the cryptocurrency’s price movement XRP.

Ripple's native token has suffered some drops in recent days, but has shown a considerable recovery in the last 24 hours. In the last seven days, XRP has retreated 4.0% in price.

As the analyst highlighted, the cryptocurrency appears to be moving towards an exit from the descending parallel channel (which has been in place since the beginning of the month). This suggests a possible increase in the XRP price to the $0,65 or $0,66 level soon.

“XRP appears to be breaking out of a descending parallel channel, which could result in a rally to $0,65 – $0,66 for XRP,” he wrote.

 

At the time of publication, the XRP price it was quoted at US$0,614427, up 3.2% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$1.119.002.214. Over the last 30 days, the fifth largest asset on the market has increased its price by 7.4%.

Cryptocurrency Whales Increase Investments in XRP

O Ripple's XRP, the world's fifth-largest cryptocurrency, arouses special interest among large investors, known as whales. The recent movement of the cryptocurrency market, marked by sharp drops in the value of several currencies, including XRP, appears to have been a golden opportunity for these investors.

Read also   Bitcoin remains stable at US$52.000; What comes next?

Ali Martinez, a renowned crypto analyst, shared valuable insights into the recent behavior of XRP on a well-known social media platform. Martinez's observations reveal an intriguing trend: despite an 18% drop in XRP price Over the past 10 days, there has been a significant increase in whale participation. This suggests a strategy of accumulation during the dip, with whales betting on a future recovery.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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