The XRP price, since the beginning of the lawsuit, missed many of the upswings or minor bull runs. Mainly due to the ongoing Ripple vs SEC lawsuit, the asset remains unaffected by the market trends as well as the lawsuit. Therefore, when will the bull run begin? And how will the XRP price trade until the beginning of the bull run?
Ripple is among those assets which still carry the 2018-ATH as it miserably failed to do so during the 2021 bull run. And hence being refrained by the strong upward movement for a pretty long time, the rally appears to have lost significant strength over time. And hence amid the recent market slash, the prices which began its drop at $1, plunged below $0.4.
While the deep descending trend could drag the price much lower, an interim surge may keep some hopes alive. Following the descending trend, XRP price is feared to drop hard below $0.1 as predicted by a popular analyst.
As per the analyst, the XRP price is testing a ‘super trend support’ from the past week and is able to sustain firmly. Therefore, gaining enough bullish momentum, the XRP price could spike above $0.6 in the next couple of months. However, the bears could regain their dominance and plunge heavily to end the 2022 yearly trade on a bearish note.
Interestingly, the analyst believes the plunge may slash the price below $0.1 levels to reach the March 2020 lows at $0.99. Here the asset may ignite a strong bounce and ignite a strong bull run that may not only elevate the XRP price beyond $1 but form a new ATH beyond $7. After the rebound, the bull run is expected to prevail for a couple of years which could help Ripple’s price to hit $10 somewhere in 2024.