XRP Price Prediction: Analyst Says God Candle Will Send Price To $57
2024年8月16日 - 10:30AM
NEWSBTC
Crypto analyst Amonyx has laid an ultra bullish price prediction
for the XRP price, predicting that the crypto token could reach
double digits at some point. This comes amid XRP’s continued
underperformance despite the conclusion of the case between Ripple
and the US Securities and Exchange Commission (SEC). Massive
God Candle To Send XRP Price To $57 Crypto analyst Amonyx mentioned
in an X (formerly Twitter) post that a massive God candle was
loading, which would send XRP’s price to $57. Based on the chart
that the analyst shared, the crypto token will rise to this price
level sometime next year, possibly at the peak of this market
cycle. Related Reading: Crypto Analyst Reveals What Could
Drive The Bitcoin Price To $48,000 The analyst failed to provide
insights into what could cause XRP to reach such an ambitious price
target. However, a more recent X post from the analysts suggests
that the analyst believes that the potential launch of a Spot XRP
ETF could allow the crypto token to reach such unprecedented
heights. A Spot XRP ETF is a catalyst that other crypto
analysts, like Common Sense Crypto, have also alluded to explain
why XRP’s price could even reach three digits. An XRP ETF will
undoubtedly cause new money to flow into the XRP ecosystem, leading
to a price surge. However, it remains uncertain that such a fund
can push XRP to such lofty heights. The likelihood of a Spot
XRP ETF launching looks higher following the recent conclusion of
the case between Ripple and the SEC. However, members of the XRP
community will likely be cautious about getting their hopes too
high about the launch of such a fund and the impact it could have
on XRP’s price, especially having seen how the crypto token has
performed since the lawsuit ended. The conclusion of the case
between Ripple and the SEC was projected to be a catalyst that
could send XRP to as high as $1 in the short term. However, XRP has
shown no signs of reaching that price mark anytime soon, as it
failed to break above the $0.6 resistance even after Judge Analisa
Torres’ recent ruling. XRP’s Bullish Breakout Will Send Price
To $263 Crypto analyst Javon Marks has offered a more bullish price
prediction for XRP, stating that a bullish breakout could send the
crypto token to $263 based on the Full Logarithmic Follow-Through
indicator. Related Reading: Private Investors Kicked Out Of
Top Bitcoin Holder List, Here Are The Stats The analyst added that
this bullish breakout is more than possible, noting that XRP is
nearing the converging point of a near “7-year
consolidation/pattern development.” He added that the crypto token
has also displayed multiple bullish signals, suggesting that this
bullish breakout could happen at some point. At the time of
writing, XRP is trading at around $0.56, down over 2% in the last
24 hours, according to data from CoinMarketCap. Featured
image created with Dall.E, chart from Tradingview.com
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