Market analysts see ‘1500% pump’ at the XRP price at several ETF applications.

XRP (XRP) has deleted almost 23% of its value over the last seven days and has decreased by about $ 2.42 on February 7 and 3% over the last 24 hours.

Meanwhile, many spots XRP ETF applications and optimistic technologies can be viewed by two digits.

XRP ETF gains great traction

The rise in XRP is supported by the XRP Exchange-Traded Funds (ETF) applications, including 21Shares, Bitwise, Canary Capital and WisDomtree.

According to a report from COINTELELEGRAPH, the company submitted a spot XRP ETF to US Securities and Exchange Commission through CBOE BZX Exchange.

The 19B-4 submission will lead to the first XRP ETF of the country if it is approved and approved for the change of rules proposed in the SEC.

This report follows the recent XRP ETF, filled with coin shoes and 21 communist goods.

This submission is consistent with the tendency to integrate cryptocurrencies into traditional investment means, following the approval of the SEC to Bitcoin and Ethereum ETF of the SEC.

The approval of the SPOT XRP ETF must improve liquidity because the ETF provides a regulated path so that institutional investors can get exposure without direct encryption ownership.

This increases the demand for XRP, which can increase prices due to the inflow of institutional capital and broad market participation.

JPMORGAN believes that last month, SPOT XRP ETFS can attract $ 4 billion to $ 8 billion in net new assets for the first 12 months of launch, and can potentially lead to prices exceeding 5-$ 8.

After US President Donald Trump took over the office on January 20, there was hope for the XRP ETF approval, and most analysts expected the major regulations to help the encryption industry.

The analysts can see the price of XRP in the future.

The XRP is less than $ 3, and analysts say that the XRP price can see the trend reversal with the target of more than $ 27 in the current sale.

According to EGRAG Crypto, a popular market analyst, the XRP price can be seen as two digits within 4 weeks within 4 weeks.

In his latest analysis, he used BMSB (Bull Market Support Band), a moving average support band used to determine whether we are in a bull or bear cycle.

The XRP price is higher than BMSB and suggests that the market is still optimistic.

This leads to a rapid increase of 1500%in just four weeks, reflecting the 2017 fractal when the XRP price is almost hit by the Purple Foundation and bumps into BMSB. The rally aimed to expand the 1.618 FIBONACCI expansion.

Currently, XRP has been soaked in the purple foundation of this cycle and contacted with BMSB as you can see in the chart below.

If history is repeated, the analyst says that as in 2017, it will benefit 1500%for the next four weeks.

“The measurement starts at $ 1.71 and will land for $ 27 around FIB 1.618 if this prediction is maintained!”

Javon Marks, a fellow analyst, said, and the XRP’s current technology setting is “very similar to 2017.”

Marks explained that in 2017, the price was integrated at a lower price than the previous highest level, recovering and invading the triangle as the second target of the triangle.

relevant: After the market conflict is less than $ 2, the trader ‘aggressively’ XRP is purchased -Analyst

If the 2017 scenario is repeated, the brake out will be $ 99 to the second triangle, and the price will rise by more than 3,900% at the current level.

“The second goal of XRP is more than $ 99, 3,900% more than 3,900% away, here more than 40 times away, and the next waves can be huge based on past achievements, and eventually leading to the destruction of the above as well as the meeting. there is. ‘

These are very ambitious goals, but other analysts have set conservative forecasts for XRP.

Based on Elliott Wave theory, encryption analyst Dark Defender predicts that XRP can record $ 5.85 in the short term and $ 18.22 in the long run.

On the other hand, Credibull Crypto sees XRP falling between 30-1.30 regions for the next few weeks, and the buyer can act as a powerful demand area and the buyer is likely to enter.

This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.