XRP Dips 10% to $3.21 but Eyes 2018 High in Altcoin Rally
XRP fell over 10% to $3.21 after peaking at $3.66 earlier this year but could still break its January 2018 all-time high of $3.84. Bitpanda deputy CEO Lukas Enzersdorfer-Konrad says the next leg up hinges on a sustained altcoin season and capital rotation from Bitcoin. The Altcoin Season Index has flipped in favour of altcoins, and Bitcoin dominance has dropped by 5.4% in the past month, pointing to growing liquidity. Technically, XRP remains above its 50-day exponential moving average and its relative strength index sits in neutral territory. Analyst Dom forecasts a potential rally to $7–$10 if market sentiment stays positive. Traders should monitor altcoin momentum, Bitcoin dominance trends and regulatory developments for clues on XRP’s next move.
Bullish
Although XRP has dipped over 10%, key indicators remain positive. The shift in the Altcoin Season Index and a 5.4% drop in Bitcoin dominance signal growing liquidity for alternative tokens. XRP’s support above its 50-day EMA and a neutral RSI suggest balanced market pressure and readiness for a rebound. Combined with analyst forecasts of a $7–$10 rally, this news is likely to boost trader confidence both short-term and long-term, underpinning a bullish outlook for XRP.