As Ripple (XRP) continues its recent bearish trend, forecasts surrounding its long-term upside potential are once again drawing market attention.

In the short term, U.S. stock market corrections and shrinking risk appetite are acting as headwinds. However, some analysts believe that the medium- to long-term trend could shift depending on whether key resistance levels are breached.

"A Break Above $2.00–$2.10 Keeps the $9.50 Target Valid"

Cryptocurrency market analyst Egrag Crypto presented a long-term outlook for XRP on the 19th via X (formerly Twitter). He analyzed that if XRP breaks above the $2.00–$2.10 range and the 2-month Relative Strength Index (RSI) exceeds the 50 line, a long-term target price of $9.50 or higher could remain valid. He assessed the current zone as a pivotal point in a long-term upward cycle.

Market Environment Remains a 'Challenge'

However, the recent market environment has not been favorable. In the U.S. New York stock market, profit-taking sell-offs centered around large-cap AI-related tech stocks have dampened investor sentiment. The Federal Reserve's (Fed) cautious stance on cutting the benchmark interest rate is also weighing on the risk asset market.

In fact, as Bitcoin was pushed down to the $62,000 level, volatility across altcoins expanded, and XRP also showed vulnerability to selling pressure.

Key Variables to Watch Going Forward

The market expects U.S. inflation and employment data, along with remarks from Fed officials, to serve as key variables determining the future direction of the virtual asset market. Investors are increasingly focusing on whether major resistance levels will be broken and changes in trading volume, rather than short-term price fluctuations. Some analyses suggest that if XRP reclaims the $2 range in the future, the long-term bullish narrative could regain momentum.

[This article was written with the assistance of AI. This article does not constitute investment advice, and any losses arising from virtual asset investments are the sole responsibility of the investor.]