- Ben Armstrong believes now could be the last chance to buy XRP at its low price range.
- He predicts XRP could reach $1 or revisit the $2 range before Bitcoin’s halving.
- XRP battles bearish volatility, crashing by over 8% to 0.6017 in the last 24 hours
With XRP at $0.6017, well-known crypto analyst Ben Armstrong argued that now could be the last chance to join the XRP train at this low price range. Armstrong voiced this sentiment in a recent video analyzing the various tokens with potential for the fast-growing bull market.
At press time, XRP battled bearish volatility, crashing by over 8% in the last 24 hours. Meanwhile, Armstrong noted that he is anticipating an explosive rally for XRP that could shock market participants. He asserted that upon XRP reclaiming the $0.70 mark, the stage is set for a further surge to the $1 threshold.
Furthermore, Armstrong speculated on three potential scenarios for XRP leading up to the highly anticipated Bitcoin halving, approximately 40 days away. In his first projection, Armstrong suggested that XRP might revisit its all-time high of $3.84 before the April halving, although his confidence in this outcome remains moderate.
On the other hand, Armstrong proposed that XRP could test $2 before the Bitcoin halving event if it falls short of reclaiming its all-time high. His third scenario posits that XRP must at least reach the $1 target before Bitcoin halves. Considering XRP trades at $0.6017, attaining $1 requires about 66.1% gains.
Meanwhile, Armstrong depicted a bleak outlook for the crypto market leading up to the halving event. He indicated the potential for one or two weeks of downward momentum preceding the halving, implying that the current bullish trend might culminate around the end of March, coinciding with the close of the year’s first quarter.
Following the projected bearish trend, the analyst noted that market participants could anticipate more substantial gains before the bull season concludes next year.
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