Countdown To $5 XRP: Engineer Predicts Milestone On Strong Fundamentals
After hitting a high of $2.82 last December 3rd, Ripples XRP has suffered a minor correction and is now trading between $2.25 and $2.50, CoinMarketCap data shows. Last December 1st, XRP briefly went below $2.00 and has consolidated above this level for days.
Like most digital assets in recent days, XRP is undergoing extreme market volatility. However, for Vincent Van Code, a software engineer, the Ripples altcoin is poised to hit $5 under these market conditions.
Van Codes comments come when the broader crypto market is experiencing a substantial downturn, driven by Bitcoins erratic price movements, which briefly breached the $100k mark. The worlds top asset briefly hit $104,088 on Thursday but immediately suffered a flash crash, dropping to $90,500.
As of this writing, Bitcoin has regained strength and is trading above $98k.
#XRP is not dumping, its a whole market thing. Triggered by #BTC dump.
Fundamentals are very strong for XRP, if youre a holder, my gut is telling me it will hit $5 by Feb 2025. All this is noise.
Not Financial Advice. I am not qualified to give any advice. pic.twitter.com/33dtboWwRl
Vincent Van Code (@vincent_vancode) December 5, 2024
Rising Market Concerns On Bitcoin And Crypto?
The sudden Bitcoin crash was felt throughout the crypto market, spooking many retailers and investors. While the drop significantly affected the greater crypto market, the loss among top altcoins isnt as big as Bitcoins.
Ripples XRP is one of the top tokens that declined during Bitcoins brief crash. XRPs price dropped from a high of $2.48 to $2.23, reflecting a 10% loss. Traditionally, altcoins often suffer massive price breakdowns every time Bitcoin corrects in price.
Current Price Corrections Just Noises For Long-Term Holders
Market observers, including Van Code, have weighed in on the situation, highlighting XRPs resilience amid Bitcoins slump. He attributed this outcome to the coins strong fundamentals, emphasizing that they remain solid despite market turbulence.
Van Code analyzed the situation and shared his optimism on XRP, and he expects the tokens value to hit $5 by February 2025.
According to the commentator, the current price corrections are just noises that can be ignored if youre on XRP for the long haul. Ripples token has been following a range pattern for four days after momentarily hitting $2.85. Since then, XRPs momentum has slowed, pushing the price to revisit $2.10.
XRP Holders And Traders Getting Ready For Another RunXRP holders are holding on to their optimism and looking for the next drivers to push the asset to revisit its all-time high and enter a price discovery mode.
At $2.36, Ripples XRP needs to surge by at least 112% to hit $5. Interestingly, XRP has increased by more than four times over the past month, keeping the hopes of holders and investors alive.
#XRPHolders Get Ready #XRP Is About To Make New All Time High Of 3.50$ Very Soon. #XRP Printed Bull Flag Pattern pic.twitter.com/UyiMuGO6s3
XRP CAPTAIN (@UniverseTwenty) December 5, 2024
Some analysts also point to different bullish patterns for XRP on the charts. In one Twitter/X post, user XRP Captain urged the tokens holders to prepare for a breakout soon. He argued that the coin is ready to reach an all-time high, as suggested by a bull flag on the charts.
Featured image from Forbes, chart from TradingView
Read more: https://www.newsbtc.com/news/countdown-to-5-xrp-engineer-predicts-milestone-on-strong-fundamentals/
Text source: NewsBTC
