A crypto analyst has claimed that XRP may reach $28 in the next cycle even though it is still flowing in the bearish zone.

XRP is currently holding the bearish position. The coin was hanging out at the $0.25 level and dropped from that level. Now, the coin has dropped further from this point and at the time of writing is standing at $0.21 with a change of -1.39% in 24 hours.

The important thing to note here is that the price of the coin was almost the same in mid-fall 2017 when the price of coin surged to $3.

Despite this bearish behavior of XRP, a crypto analyst has claimed that the coin will soon touch $28 mark.

XRP Bullish Predictions

Some crypto analysts are making predictions about XRP price. A Crypto analyst named @vajolleratzii has made a bullish prediction and said that XRP is soon going to touch the mark of $28 in the upcoming cycle. He presented a thread of XRP on twitter.

A thread on $XRP and why I believe we will hit $28 in this next cycle. $XRP has quickly become everyone's favorite coin to, "hate" which is why I am taking this as an early sign to accumulate more before the coming explosion… pic.twitter.com/TCZzuoMoRi — D.I.Y Investing (@vajolleratzii) November 18, 2019

Apart from this, another crypto analyst has also made a bullish prediction about XRP price. A crypto analyst CryptoBull presents an XRP chart and says that I am expecting that XRP will soon hit $40000 in long run.

This is the #XRP chart I am looking at. This is why I don’t have any concerns about daily or weekly price drops. The monthly chart is all you need. https://t.co/lb2a0LGkXW — CryptoBull (@CryptoBull2020) November 25, 2019

Ripple has been stretching XRP’s utility

Ripple has expanded its token utility. Recently, we have seen that it has been stretching the utility of its token by offering more liquidity on its asset.

XRP Ledger transactions have reached an all-time high. @CrptoWelson says that XRP has left behind other ledgers such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

$XRP Ledger Transactions Hit All-Time High, Blast Ahead of Bitcoin, Ethereum, Bitcoin Cash and Litecoin. pic.twitter.com/EJS6capeC6 — Welson 📊 (@CryptoWelson) November 24, 2019

Also, XRP’s liquidity index reached an all-time high on Bitso which is considered as the number one exchange in Mexico. Bitso is a partner of Ripple-powered MoneyGram.

Whale Alert has reported that an unknown wallet has transferred an amount of $11 million worth almost 50 million XRP to Bitstamp exchange. Some are saying that XRP may be aiming at another XRP dump.