Market Expert Says XRP Fears Are All Hype, Provides Price Update Amid Downtrend

One market strategist insists that doubts about XRP’s recent downtrend are all noise, as the asset is currently retesting a notable price tag.

XRP Take part in the broader market’s upheaval today as hawkish news from Federal Reserve Chairman Jerome Powell continues to spark caution among investors. The fourth-largest cryptocurrency has fallen by almost double digits in the past 24 hours, approaching below $2.

Amid growing doubts, market expert Egrag Crypto reassured the XRP community. On a Friday tweetThe seasoned analyst insisted that XRP is technically still on its way, calling the saga “just hype.”

XRP Market Update

According to the commentary, XRP is simply retesting its December 10 low. For context, on that date, the digital asset fell below $2 for the first time in ten days but rebounded strongly to close at $2.3709. The analyst stressed that even a drop below $1.9 is not a cause for concern.

Meanwhile, Igraj noted that a retest could spark bullish momentum for XRP if the price recovers from the area. He stated that XRP could form a bullish double bottom on higher time frames, leading to a bounce to new highs.

Furthermore, Egrag confirmed that XRP may enter a significant range, with the price fluctuating between $2.00 and $2.90. The analyst noted that the native XRPL token has followed a similar path before now, previously hovering between $0.5 and $1.00 for months before the recent breakout.

The analyst says that XRP is the best altcoin to play

In addition, analyst DonAlt predicted that XRP is the best altcoin in the current market. And yet it is male This would be the case if it were Bitcoin It rose to $107,000 It was not the peak of her cycle.

While he admitted that the recent dump has made all altcoins cheap, he noted that buying XRP would be the best move at this point. Notably, he did not set a target price for XRP, but other experienced speculators have confirmed further rises in the price of XRP. $4.6 And ambitious $35.

Meanwhile, XRP is trading at $2.1780, rebounding sharply from a decline to $1.9601. However, the asset is down 8.34% in the past day and 10.62% over the past seven days.