Analysts Say XRP’s 19% Drop Is Normal

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XRP price is down today due to overheated conditions, but analysts say it’s a normal market pullback that could precede a stronger rebound in the short term.

XRP drops 19% from eight-year highs and 12% in 24 hours, with $113 million in liquidations.

Analysts see the pullback as healthy, with $10-$15 upside targets still viable.

XRP price is down 12.5% today, dropping in tandem with the broader crypto market, which has slipped 3% in the last 24 hours to $3.79 trillion.

Despite this correction, analysts are terming this a “healthy pullback” with double-digit XRP price targets still in play.

XRP drops 19%, sees $113 million in liquidations
XRP price dropped as much as 19% to an intra-day low of $2.95 on Thursday from its multiyear high of $3.66, data from Cointelegraph Markets Pro and TradingView shows.

Cascading liquidations and thinning liquidity fueled XRP’s drop as over-leveraged longs got flushed across the board.


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