The price of Ripple (XRP) has been consolidating inside an ascending pattern, potentially setting the stage for further gains, according to some market analysts, even as overall investor sentiment has turned decidedly negative.
Noted crypto trader Ali posted a technical analysis on the social media platform X, highlighting an ascending parallel channel governing XRP’s price action dating back to June 2022. This price formation occurs when an asset trades between two upward-sloping and parallel trendlines, indicating steady buying pressure.
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According to Ali’s analysis, if Ripple XRP continues tracking within the confines of this channel, prices could push towards the mid-line at around $0.80 or even test the upper boundary, which currently sits near the key $1.10 level.
Is the $1.10 level for the coin realistic soon?
The upbeat prognosis contrasts markedly with another tweet from Ali pointing to extremely bearish market sentiment for XRP based on crowd psychology metrics. According to the post, weighted sentiment is now at its lowest level of pessimism, going back to May of last year.
The depressed state of investor sentiment can indicate weak hands have finished selling out their positions while leaving underlying positive fundamentals unchanged. For XRP, that may include growing real-world usage of the affiliated Ripple payments network and positive developments in Ripple’s ongoing lawsuit with the Securities and Exchange Commission, according to legal experts.
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According to Changelly experts, Ripple XRP is likely to hit $1.10 in July 2025. However, it also depends on the overall market conditions and sentiment.
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