XRP price forms a hammer candlestick: Is this a great opportunity to buy XRP on the dip?

According to a report by Bijie Network: Ripple (XRP) is currently trading at $1.62, and the market is closely watching its trend, with analysts discussing its future direction. Despite a recent increase and having obtained an EU electronic money license, the price movement remains cautious. Analyst JD pointed out that a hammer candlestick pattern has appeared on the chart, indicating a possible bullish reversal. Historically, the hammer pattern often signals the emergence of a local bottom, followed by an upward trend. Some predictions suggest that XRP's short-term target price is $2, while the long-term target could reach as high as $9, mainly driven by the clarity of ETF and regulatory prospects.