JWK Show’s cryptocurrency analyst predicts a rise for XRP and expects a near-term Bitcoin rally while awaiting ETF approval.
The analyst stated that he was personally invested in XRP at the time of the video and that it was trading at around $0.62. He said he “bought more XRP” on December 3 based on certain technical analysis signals.
Based on the current chart, we expect XRP to rise. We expect XRP to hit this high around $0.71. Let’s see if it works.
JWK Show
In addition to the analyst’s technical analysis, he believes that a broader rise in the cryptocurrency market, fueled by the rally in Bitcoin (BTC), will benefit XRP. Moreover, analysts see little potential for Bitcoin investment.
Bitcoin’s rise is good for the overall cryptocurrency market. Good for XRP. Good for ETH. Great for all coins etc. But Bitcoin doesn’t have much benefit. Even if Bitcoin goes up to $100,000 and you invested $20,000, which almost no one has invested, that’s only 5x your investment. There is very little money you can make with Bitcoin.
JWK Show
The analyst also noted recent data showing that the XRP-USD trading pair is the fifth most popular trading pair in the cryptocurrency, despite XRP ranking eighth among digital assets by market capitalization.
Analysts believe that cryptocurrency adoption is rapidly accelerating, especially in trading activities. He expects a “rapid acceleration of crypto adoption” in the coming years, which could provide a tailwind for XRP along with Bitcoin and the broader crypto space.