XRP to $0.98 or a ‘Face-Melting’ Rally? Analysts Clash on What Comes Next

Where is XRP heading next week as the broader market sentiment has quickly deteriorated? Ripple’s cross-border token was not spared during the pullback from the past week, with its price dipping below $1.30 once again after a fresh rejection at $1.40. The asset is now sitting at a crucial technical area, and analysts are split about what comes next. Ali Martinez warned that it could dump below $1.00 under certain circumstances, while EGRAG CRYPTO remains bullish as ever. XRP Below $1 If Whales Keep Selling Martinez outlined a distinctly bearish scenario for the popular altcoin, warning that it could eventually fall to its August lows of $0.98 if several worrying on-chain trends persist. First, he noted that the number of XRP Ledger wallets holding between 10 million and 100 million tokens has declined from 351 to 339 over the past few weeks alone. He argued that the reduction suggests some of the network’s largest holders may be reducing their exposure. At the same time, exchange balances have moved in the opposite direction. The analyst said XRP held on centralized trading platforms has risen from 11.003 billion to 11.05 billion tokens in a short time, which means an additional 50...