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Despite XRP’s sharp decline, losing over 80% of its value, the altcoin remains under the spotlight among investors and analysts. While technical indicators suggest XRP may face further losses, some experts have long-term targets as high as $15 to $115. According to Santiment data, growing interest in XRP is reflected in the rising number of active wallets, signaling potential for a recovery.
Mixed Market Sentiment for XRP’s Future
One analyst, Northstar, questioned the optimism surrounding XRP, noting the crypto’s struggle to break above a multi-year descending trend line. He highlighted XRP’s current position, where it is testing support near $0.54 but still unable to decisively overcome resistance. Northstar believes a sustained bullish trend won’t be possible until XRP clears this crucial line.
Meanwhile, analyst Alan Santana pointed to the technical indicators, noting that XRP is showing bearish signals on daily charts. With indicators such as EMA144 and MA200 supporting a potential downtrend, Santana suggests XRP could see further declines. He also emphasized XRP’s lack of correlation with Bitcoin, which adds to the uncertainty surrounding its performance.
Optimistic Long-Term Scenarios Remain
Not all analysts are bearish on XRP. Egrag Crypto offered a notably positive outlook, suggesting that once XRP reaches what he terms a macro bottom, it could rise to between $2 and $15. Egrag is even more ambitious in his long-term vision, suggesting XRP could reach $115 in a new cycle.
Despite the varied analyses, Santiment’s on-chain data presents a more favorable view. The analysis firm observed a spike in active wallets on the XRP Ledger, with over 35,000 wallets participating in transactions in a single day and 3,858 new wallets created, marking a seven-month high. This activity suggests continued investor interest, which could support a price recovery.
XRP currently trades at around $0.5161, fluctuating between $0.5104 and $0.5184 over the past 24 hours, indicating a phase of consolidation. With a market cap of $29.3 billion and a fully diluted market cap of $51.6 billion, XRP maintains robust interest despite trading in a limited range.
