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XRP, sparking discussions among market enthusiasts about its upcoming price movements. While the digital currency is currently hovering around $1.32, its trajectory remains unclear as analysts watch for a potential shift from accumulation to distribution phase.
What are the analysts' predictions?
Famous technical expert Lars Kuestra pointed to a noticeable change in XRP's price trend, suggesting that sellers may regain control. He now interprets the previous price rise as part of a TCT accumulation pattern transitioning into the distribution phase, implying increased supply and decreased demand.
Kuestra noted that recent volatility has reflected a short-selling reversal in XRP's price, but rapid price drops have prompted him to explore new selling strategies. Currently, key resistance levels, such as the $1.30-$1.40 range, are being identified as potential entry points in case of a decline.