The price of the XRP token recently reached $3.19, marking a new monthly high. This occurred amidst unfavorable conditions, including significant whale sell-offs.
XRP Market and Recent Changes
Since early September, XRP has been on a downward trend, hitting a low of $2.70. However, the asset showed a positive response and bounced back to $2.90. Last week, attempts were made to break the $3.00 resistance level, and on Friday, the token managed to do so, marking $3.19 as its peak.
Forecasts and Expectations for XRP
Following the breach of the $3.00 level, analysts predict further growth. For instance, Ali Martinez has outlined a target of $3.60. According to him, a successful close above this mark could propel the price to $3.60. Other analysts, including Altcoin Gordon, predict that XRP could establish a new record high of $6.00.
Market Conditions and Analyst Support
Despite a recent sell-off where over $120 million worth of XRP was sold in one day, the token still managed to show significant growth. Moreover, the pending decision from the SEC regarding the XRP ETF remains uncertain, adding further ambiguity to the market.
In summary, the XRP token is demonstrating considerable recovery, and despite current challenges, analysts anticipate continued growth in its value in the future.
