- Trading analyst boldly states XRP is in an accumulation zone.
- The analyst expects to see new ATH prices for Ripple’s XRP soon.
- These bullish targets are expected to hit between $5 and double-digit prices.
As expectations for altseason continue to grow after the brutal $20 billion liquidation event, one reputed trading analyst boldly states XRP is in an accumulation zone and expects new ATHs soon. Despite the expected bearish crypto market sentiments, most analysts and traders are hoping to see a parabolic altcoin price pump during the last two months of the year, and XRP remains one of the top altcoins in the market.
Trading Analyst Boldly States XRP is in an Accumulation Zone
Ripple’s XRP has had a unique and slightly exhausting story, especially for those XRP holders who have been holding the altcoin for over 8 years. Almost a decade ago, when BTC and ETH prices were pumping steadily and claiming higher and higher ATH prices, the price of XRP was surging right alongside them. In 2017, the price of XRP set its current ATH price at the $3 price range.
Unfortunately, XRP’s price pump was cut short due to the SEC deciding to pick a both with Ripple. Accusing XRP of being a security, the SEC launched a long battle against XRP until, 7 years later, Judge Torres proclaimed that XRP is not a security. Soon after this victory, Trump took office and further improved the state of crypto innovation in the USA. While XRP may be doing well now, its price took brutal hits for 7 years.
After XRP and Ripple won their case against the SEC, the price of XRP experienced two parabolic price pumps that brought the price of XRP from prices way below $1 to close to its ATH price all those years ago. While XRP price was battling hard, Ripple went on to make several bullish partnerships and collaborations that would prepare XRP to surge exponentially when ready.
Analyst Expects to See New XRP ATH prices Soon
Most analysts believe that time has now arrived and are hoping to see XRP catch up to astronomically high ATH prices this cycle. However, with the current crypto market sentiment, some traders believe altcoins are done pumping and a bear market will begin. On the contrary, others expect the price of XRP to surge in the coming days and hit bull targets between $5 and double-digit prices.
As we can see from the post above, this popular crypto analyst encourages traders not to panic sell their XRP due to the growing bearish sentiments and the market swinging to fear. He says that fear markets are when traders should accumulate and believes XRP is now in a crucial accumulation zone. Once this accumulation phase is done, the price of XRP will go on to hit several new ATH prices, possibly marking this cycle’s long-awaited altseason.
