Cryptocurrency analyst Amonyx said: Very bullish price prediction As for the XRP price, we predict that the crypto token could reach double digits at some point. This comes amidst the ongoing underperformance of XRP. Conclusion of the case This is a deal between Ripple and the U.S. Securities and Exchange Commission (SEC).
Massive God Candle Pushes XRP Price to $57
Cryptocurrency analyst Amonyx mentioned on X (formerly Twitter) mail That’s huge Candle of God It was loading, Send XRP price to $57According to a chart shared by the analyst, the crypto token will likely rise to this price level sometime next year, possibly when it reaches its peak. This market cycle.
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The analyst did not provide any insight into what could have caused XRP to reach such an ambitious price target. However, recently X Post According to analysts, analysts believe a potential launch is possible. Spot XRP ETF It could allow crypto tokens to reach unprecedented heights.
The Spot XRP ETF is the catalyst that other crypto analysts, such as Common Sense Crypto, have explained why XRP prices could reach triple digits. An XRP ETF would undoubtedly bring new money into the XRP ecosystem, leading to a surge in prices. However, it is unclear whether such a fund would be able to push XRP to such high levels.
With the recent settlement of the lawsuit, the possibility of a Spot XRP ETF launch has increased. Ripple and SEC. However, XRP community members are likely to be cautious about getting their hopes up too high about the launch of such a fund and the impact it could have on the XRP price, especially given how the cryptocurrency token has performed since the lawsuits were settled.
The settlement of the lawsuit between Ripple and the SEC was expected to be a catalyst that could push XRP up to $1 in the short term. However, XRP failed to break through the $0.60 resistance level, showing no signs of reaching that price anytime soon. Recent rulings by Judge Analisa Torres.
XRP’s bullish breakout could push the price up to $263
Cryptocurrency Analyst Javon Marks I suggested more bullish price prediction For XRP, State According to the Full Logarithmic Follow-Through indicator, a bullish breakout could see the crypto token rise to $263.
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The analyst added: Strong breakout He said this is entirely possible, noting that XRP is nearing a convergence point of “a consolidation/pattern development that has been going on for nearly seven years.” He added that the crypto token has also been flagged as: Multiple bullish signalsThis suggests that such a bullish breakout could occur at some point.
At the time of writing, XRP is trading at around $0.56, down more than 2% over the last 24 hours. data On CoinMarketCap.
Featured image made with Dall.E, charts from Tradingview.com