XRP Price Prediction This Weekend: Crash Incoming?

XRP is experiencing a critical uncertainty at the moment in its charts, accompanied by polarizing views from crypto experts and forecasts. While many observers believe that the market-wide correction is over and XRP will witness a bullish breakout next, others consider it as the beginning of a severe bear market.

XRP Current Market Scenario: Highly Volatile & Extreme Fear

• Fear & Greed Index: 14 (Extreme Fear)
• Market Sentiment: Bearish 
• Supply Inflation: 5.84% (High)
• Dominance: 4.07%
• Volatility: 7.22% (High)

Following yesterday’s correction, XRP experienced a short rebound, but the failure to surge above the $2.00 mark makes it bearish. The volatility and extreme fear in the index deter investors from the coin, and it is now below the 200-day SMA ($2.56) and pivot point ($1.94). At present, XRP is more than 50% down from its all-time high of $3.84.

XRP Price Prediction This Weekend: Bearishness Could Continue

XRP has already experienced more than a 15% plunge in the past seven days, and we will likely witness further downtrend this weekend, potentially reaching a daily low of $1.69 on Sunday, November 23rd. In addition to the lack of news flow and slower activity during off days, the weak technical and market FUD could contribute to the bearish behavior.

XRP tends to lose momentum and exhibit a slight downtrend during weekends, as seen in its historical chart movements. However, exceptions can occur through an unexpected whale purchase, which is highly unlikely to happen. The prediction for the weekend, based on the technical and fundamental analysis, is given below.

XRP Market Outlook: Institutions & Macro Trends

The overall profit-taking momentum, the macroeconomic uncertainty, and the market-wide fear resulted in the drop of total capital to $2.87 trillion, severely affecting the altcoins like XRP. In addition, the Bitcoin dumps by key people such as Bitcoin OG Owen Gunden and Robert Kiyosaki also contributed to the panic. The ETF momentum also fails to influence XRP charts. While the day 1 inflow to the Bitwise XRP ETF crossed $100 million, the market didn’t react to it, and there is no hype for the Grayscale XRP ETF, which is scheduled to launch on November 24th.

As of November 22, data by Glassnode, XRP holders have realised a net loss of $75 million. Overall, the entire crypto market, including XRP, appears to be in an alarming situation, making short-term trading a risky activity. Various key people warn about a big crash, instilling the fear of a bear market.

XRP Price Prediction Next Week: Nov 24 to Nov 30

The price forecast indicates that XRP will continue the sideways movement for the next week, probably falling to a daily low of $1.61 by next Saturday. However, the ecosystem expansion plans signal that XRP will likely surge to new heights in the coming months. The forecast from November 24th to 29th is provided below.

Disclaimer: These XRP price forecasts are based on predictive modeling and should not be considered financial advice.

The Bottom Line: Buy the Dip or Sell XRP?

As an asset in uncertain conditions, traders are advised to remain cautious while engaging with XRP. The price prediction indicates that XRP will likely continue the downtrend this weekend, suggesting that it is not the right time to engage with it. However, the fundamentals, institutional participation, and the roadmap upgrades of Ripple signal that XRP could experience a surge in the coming months. So, it appears like an asset with long-term potential. If you plan to purchase, try to do maximum research on your own to finalize an entry point in this dip. Always DYOR!