The digital token XRP fell under the category of the digital assets that bowed to the bears, fueled by the outbreak of the new coronavirus in March 2020.
Back then, XRP, the third-largest digital currency by market capitalization, lost about half of its accumulated price in a matter of days. However, going by the claims of some cryptocurrency analysts, XRP will rise again, even in a significant fashion.
Loma Says $0.24 is the Potential Target for XRP
Crypto analyst and chartist, Loma made this remark some hours ago via a chart he marked out and caption in one of his recent tweets.
According to this chart, XRP would gain price by relatively 30% in the coming two months. He then points at $0.24 as the potential price target.
Howbeit, the analyst did not give detailed information on why his price trend prediction will play out but considering his presented chart, XRP has seemingly bottomed, gathering momentum for a fresh uptrend.
Another significance of his sentiment is that it corroborates with the previous analysis of some cryptocurrency analysts.
Recall that Herald Sheets reported the assertion of a cryptocurrency analyst, Credible Crypto, who averred that the recent recovery rally in the cryptocurrency market has given room for XRP long-term chart to print its second positive signal.
In the previous week, XRP also managed to bounce off a downtrend from the all-time high, in which the digital currency was rejected four times, resulting in reclaiming a multi-year trendline.
At the time of filing this report, XRP is trading at $0.193221, with a 1.01% price upsurge in the last 24 hours.