- XRP reached $2.6 after rising 8% last week but has struggled to maintain gains above that level.
- Price predictions suggest XRP could drop to $1.90 by December.
- Traders Union forecasts a bearish trend for XRP through the end of the year.
- Investors are advised to avoid XRP now due to possible losses from selling pressure.
- Long-term traders might consider buying if XRP falls to $1.90, as this could be a price bottom.
Ripple’s native cryptocurrency XRP hit $2.60 on Wednesday following an 8% increase over the prior week. However, XRP has consistently struggled to stay above this level, falling back to around $2.40 whenever it attempts to break out higher. Market predictions indicate the coin may decline further toward $1.90 by December.
According to Traders Union, a prominent Price Prediction firm, XRP faces a bearish scenario for the next two months. The forecast expects XRP to remain weak until the year-end, with a possible decrease of nearly 27% from its current price. Traders Union also suggests XRP might hover near $2 by December.
The prediction highlights that XRP could face increased selling pressure if prices drop to the $1.90 range, which may negatively impact investors who enter the market now. Due to this, it is recommended to avoid buying XRP at present. Instead, other cryptocurrencies like Solana (SOL) and Binance Coin (BNB) may offer better short-term investment opportunities, according to the report.
For long-term investors, a dip to $1.90 could represent a favorable buying opportunity. Accumulating XRP at that level could position traders for potential gains when the market eventually recovers.
XRP experienced a 450% price surge over the past year, making the current price correction a healthy market adjustment. This price movement reflects both profit-taking and sell-offs by investors.
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