XRP Drops 0.1% in 24 Hours, Analysts Predict $33-$70 Surge

XRP, the cryptocurrency, has recently faced a decline in its price and trading volume, causing some concern among investors. However, analysts remain optimistic about its potential for a significant price surge in the future. Despite the current setbacks, many market observers believe that XRP has the capability to bounce back and hit prices between $33 and $70.

As of the latest reports, XRP is being traded at $2.33, which is a slight decrease of 0.1% in the past 24 hours. This price is higher than the $2.29 recorded on March 16, indicating some resilience despite the near-term pressures. Over the past week, XRP has shown a 9% increase, which has contributed to the mixed opinions among analysts regarding its price movement. Some analysts maintain a positive outlook on the long-term potential of XRP, despite its current struggles.

One of the analysts who remains confident in XRP's potential is Egrag Crypto. He predicts that XRP is operating on a cycle that could result in significant price levels in the future. Egrag Crypto believes that XRP could potentially hit anywhere from $33 to $70 in the upcoming months, considering both its short-term volatility and long-term potential. He has identified two main targets: Stick 2 at $33 and Stick 3 at $70, which he determined using percentage formulas to analyze XRP's price direction.

Egrag Crypto's analysis suggests that XRP is currently sitting in a price channel that will influence its future movement. The analyst notes that the cryptocurrency's price is near $2.83, a critical level that could project strength. If XRP hits this level, it might propel the cryptocurrency towards $4.20 in the near term. However, if the coin fails to maintain its position above the current levels, it might test support levels below. Key levels to watch include $2.40, the previous day's high, and $2.97, the week's high.