The 'distribution' phase of XRP does not change the price target of $30: Analysts
The price of XRP (XRP) fell 44% to $2.06 from its multi-year high of $3.66 reached on July 18, before recovering to current levels around $2.43. Is it finally heading for a deeper correction, or is there a more substantial rally on the way?
Key takeaways:
The macro outlook for XRP is bullish, with some predictions calling for a high of $30.
Multiple bullish catalysts include the likely approval of spot XRP ETFs in the U.S.
The macro outlook for XRP remains bullish
The price action of XRP reveals a consolidation within a symmetrical triangle on the monthly chart, suggesting it may be preparing for another bullish impulse, according to analyst Egrag Crypto.
In a post on Tuesday on X, the analyst told his followers not to feel “frustrated by the sideways movement and boring price action.”
Related: The XRP lawyer runs again for a seat in the Senate of the U.S. #XRPVolatility
