Crypto analyst warns: XRP community should pay attention to June 4-6

In recent developments within the cryptocurrency market, XRP is making headlines as it seeks to surpass the crucial price level of $2.20. This comes after a period of price fluctuations, which have raised eyebrows among investors. According to a report by News.Az, XRP has shown some positive momentum over the last 24 hours, inching its way upwards after a challenging week.

The past few days have been a rollercoaster for XRP, as it experienced a rally that briefly pushed its price above $2.65 in early May. However, that momentum was short-lived, and the cryptocurrency descended to around $2.10 by the last day of May. This fluctuation has led to increased scrutiny over the timing of XRP’s next major price movement.

In light of these developments, a prominent crypto analyst known by the pseudonym WatersAbove has issued a warning and a prediction that all XRP investors should heed. According to WatersAbove, significant events could unfold between June 3 and June 6 that might determine the short-term and long-term price trajectory of XRP. During this period, the analyst believes that XRP could hit its bottom before embarking on a potential upward trend.

One key concern raised by WatersAbove is the likelihood of market manipulation during this timeframe. He suggests that larger players in the crypto market may engage in tactics to “shake out” weaker investors, creating artificially low prices before a potential rally. The analyst’s message was clear: “In the meantime, watch out for this week ahead.”

While WatersAbove didn’t provide specific technical charts to support his predictions, his assertions have resonated with many XRP investors, who are now attentively monitoring these key dates for signs of a price bottom. The responses on social media reflect a growing sense of anticipation among the XRP community.

In a bold move, WatersAbove went beyond merely forecasting a bottom. The analyst has set a price target of $10 for XRP by late July or early August, which would represent nearly a fivefold increase from current price levels. This optimistic outlook echoes past price surges, notably during the fourth quarter of 2024 and back in 2018. However, for this kind of breakout to materialize, significant institutional inflows will be required.

Interestingly, WatersAbove predicts that the rally will take off around June 18, following the anticipated market manipulation. This timeline is particularly notable, as other analysts are also forecasting a potential breakout into double digits. For instance, EGRAG CRYPTO outlines a similar trajectory, suggesting XRP could soon be heading into a much higher price range. On the flip side of the spectrum, some analysts remain cautious. Notably, Dr. Cat (@DoctorCatX) believes that any significant bull run for XRP could be postponed until November 2025.

As of now, XRP is trading at approximately $2.20, exhibiting a modest 1.63% increase in the last 24 hours. Should the predictions of WatersAbove come to fruition and XRP hit the analyst’s price target of $10, that would represent an astronomical 350% increase from its current value.

In conclusion, the XRP community is treading carefully as they await the developments expected from June 3 to June 6. Observers are measuring the potential for short-term price manipulation against the backdrop of long-term bullish sentiment surrounding XRP. As the situation continues to evolve, investors should be prepared for a thrilling ride ahead in the world of cryptocurrency.

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