$XRP
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$3 XRP Dream Delayed—No Bull Run Before November, Says Top Analyst
In a recent analysis of the XRP market, Dr. Cat, a prominent crypto strategist, shared insights indicating that the $3 news for XRP might not materialize as quickly as some investors hoped. According to his Ichimoku-centric assessment, significant bullish momentum is unlikely before November. Dr. Cat expressed doubt about XRP reaching $3 or hitting all-time highs anytime soon, particularly not in June.
XRP Bulls Facing Challenges
The XRP-USD chart shows the cryptocurrency hovering near $2.14, struggling to push past the flat Kijun-sen at $2.35. Despite a promising break above the cloud in early May, momentum faltered, resulting in prices retreating back into the cloud. With the Tenkan-sen dipping below the Kijun-sen and the Chikou span entangled in a neutral zone, signals suggest a lack of strong bullish alignment necessary for a significant price surge.
Market Conditions and Future Outlook
Dr. Cat warns that building a bullish market in Ichimoku terms requires considerable time and effort—often a full 26-period cycle. Missing the current window could delay any potential rally. He notes that the current setup on the lower-medium timeframes shows consistent selling pressure, with the XRP/BTC pair struggling to hold the 2041-satoshi support level.
Weekly and Monthly Perspectives
The weekly chart offers few bullish signals, with an expanding kumo ahead of the price and an unresolved bearish Tenkan-Kijun crossover. However, the monthly chart still shows some latent strength against the USD, suggesting not all bullish potential is lost.
Short-Term Risks and Long-Term Potential
In the short term, Dr. Cat sees a potential drop to $1.89, a critical support zone, before any rebound. A decisive break above the upper cloud boundary near $2.40 could shift the outlook, potentially setting the stage for a move towards $3 by year-end.
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Conclusion
While the immediate future for XRP might not hold a bull run, the groundwork for a future upswing by November, when market conditions could be more favorable, is still possible. Investors should monitor key support levels closely and remain patient. For further insights into cryptocurrency trends, visit [Binance](https://www.binance.com/).
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