Final jolt to $0.87 starts now?

Dropping below $0.90 or the beginning of a new bull run: what’s next for XRP?

Ripple’s cross-border token remains one of the most talked-about topics in the cryptocurrency space, but analysts have recently split into two distinct camps.

On the one hand, we have people calling for the end of the bear market and an explosion of prices towards new historical highs, and on the other hand, pundits believe that XRP could fall well below $1 in the near future.

Bearish scenario

As of press time, the asset is worth around $1.07, which means a 5% decline over the past week. According to X user Diana, losing the $1.08 support could lead to an eventual shakeout to much lower levels.

she He believes The next step could be a broad sell-off towards the $0.90-$0.93 liquidity zone, followed by a comfortable bounce above $1 and a final run to the overall support of $0.87, which is expected to complete the entire correction and pave the way for the next major expansion.

Encryption too I notice to $1.08, which remains strong resistance, indicating that the current structure favors sellers and may lead to further declines.

Some factors also suggest that the price of the native Ripple token may head south in the short term. like CryptoPotato I mentionedPositive online buzz around XRP has been on the rise recently, with FOMO rising to the highest level in several months. This may sound optimistic, but the cryptocurrency market is a strange market and often moves against the public’s expectations.

Another element of concern is the decline in interest in spot XRP ETFs. Until the beginning of July, inflows consistently exceeded outflows, but in recent weeks, pension funds, hedge funds and other conservative investors have begun to reduce their exposure to the asset, forcing Bitwise, Canary Capital, Franklin Templeton, 21Shares and Grayscale to sell XRP to maintain proper support for the stocks.

You may also like:

Bulls are vocal, too

The XRP Army has a reputation for strong loyalty and continued support for the Ripple cryptocurrency, even in difficult times. However, it is not surprising that some market watchers continue to expect new all-time highs.

Not long ago, X Crypto user Patel He claimed That the asset is repeating a macro pattern that previously led to gains of more than 1,000%. In their view, history points to another expansion phase that could push the price to a new peak above $9.

Celal Kokoker is also very optimistic, recalling XRP’s 500% monthly rise two years ago. “Now people are saying $7 by the end of the year is impossible… yet there are still 6 months left. Never underestimate what Ripple can do,” He added.

Of course, expectations should remain moderate given the extended bear market gripping the cryptocurrency space. One should also know that such high levels of XRP price would require its market capitalization to rise above $350 billion, which seems far-fetched (to say the least) at the moment.