The short-term price outlook for XRP is still bearish despite the recent recovery. Verified CMC and Binance KOL Marcus Corvinus on Sunday shared on x He expressed these views in his post.
Notably, XRP has rebounded over 4% from recent lows to as high as $1.90. Although this move brings with it further bullish expectations, Corvinus does not share this view.
Is Further Decline Possible in XRP?
XRP appears to be holding above a strong support point at around $1.82. Attempts to fall below this demand zone have failed three times recently. The first attempt was the $1.82 low on November 21, the second was the $1.77 level seen on December 19, and the last was the $1.82 drop three days ago.
The analyst stated that this show of strength could lead to an upward movement in XRP in the short term. According to him, it would not be surprising to see a short-term reaction increase from current levels.
However, Corvinus does not yet see a sustainable uptrend in XRP. Emphasizing that the “big picture” of XRP is still bearish, the analyst stated that possible increases will be in the form of lower peaks under the control of the falling trend line.
Although XRP in particular showed a rapid recovery after the sharp drop to $0.77 on Binance on October 10, it has been moving in a falling channel since then. Although the bulls have repeatedly defended the $1.82 support, this structure indicates a clear downtrend and is putting pressure on the XRP price.
Critical Decision Zone
Corvinus also emphasized that XRP will continue to remain in the bear zone unless it breaks above this falling channel and establishes permanence. He stated that possible increases from these levels would only be a limited reaction movement.
According to the shared chart, XRP needs to rise up to $1.98 in order to break the upper trend line resistance of the formation. This puts XRP in a critical decision zone; The next price movement will determine the direction of the cryptocurrency.
If the selling pressure decreases, XRP may experience a sharp recovery. However, if the price sinks below the $1.82 support, lower levels could emerge.
Forget XRP: Is a New 10,000% Opportunity Emerging?
XRP may or may not rise, but the bet is that the token has been struggling lately. While uncertainties still remain, whales may be turning to a new opportunity with 100x potential that remains bullish despite the overall challenges in the crypto market.
At this point, according to the statements of its team, Minotaurus (MTAUR) stands out as a must-have token. It is stated that whales are buying heavily before a big increase that may occur in this cycle. The project is claimed to have sold over 3 million USDT of tokens in a few months, demonstrating strong demand.
Why Just 10,000 MTAUR Can Be Life-Changing
Allegedly, at the current price of 0.00012618 USDT, approximately 79,000 MTAUR can be purchased for less than 10 USDT. Hypothetically, considering MTAUR had a rally similar to XRP’s 68,000% rally from its all-time low; In this case, it is claimed that an investment of 10 USDT can turn into approximately 6,810 USDT.
It is also claimed that the gain could be very high if you imagine that you buy 100 USDT, 1,000 USDT or 10,000 USDT worth of MTAUR at the current price and the token repeats XRP’s historical rally. It is also claimed that these scenarios show that under extreme conditions the potential return can be large.
To purchase MTAUR or get more information, you can visit minotaurus.io.
