Popular alternative currency XRP It is gaining momentum in the cryptocurrency market as the digital asset continues to attract bold predictions from inspired crypto enthusiasts following a recent price rebound due to overall market recovery and strong investor sentiment.
Is XRP preparing for another historic bull run?
In a bold prediction, Edrag Crypto, market expert and trader, has done just that shown Detailed path to a potential 10x price rise in XRP, sparking a frenzy in the cryptocurrency community over its potential. The expert’s diagnosis is based on the analogy of the total projection zone from the point of view of gravity, which includes 3 distinct zones such as Zone A, Zone B, and Zone B*.
This prediction is in line with broader expectations for the altcoin to potentially hit a new all-time high in the ongoing cycle if that happens. Legal battle The relationship between the US Securities and Exchange Commission (SEC) and financial giant, Ripple, over digital assets has come to a complete end.
According to the expert, the total consolidation was located in the first zone, where XRP was relaxing. However, the boundaries of the landing zone in the region have been drawn, and Alternative currency It fell to the second zone (Zone B) from $0.15 to $2.
As a result, Edrag Crypto urged investors to commit as the token should approach bearish zone B. When that happens, XRP could be poised for a massive launch from the $2 level to the $15 price mark.
Moreover, the analyst highlighted that after that, Area B* will see the next total consolidation, which is similar to Area B, but slightly different from each other. Specifically, this move will see the token go from $15 to around $115.
Although this move may seem extreme, Edrag Crypto claims that it is less volatile than the previous move from $0.15 to $2. The sharp increase from $0.15 to $2 has a staggering 1,233.33% volatility, while the move from $15 to $115 represents a volatility of over 666.67%, “making it a much more stable area,” he emphasized.
Possible extended positive outlook for the asset
XRP is currently showing promising price performance, as it breaks through critical resistance levels. This rise can be attributed to several factors, such as favorable market conditions and growing acceptance rippleBlockchain technology in the financial landscape.
At the time of writing, XRP is trading at $0.55, showing an increase of over 3% in the past day. Meanwhile, in the broader forecast, the altcoin rose by about 3.26% in the past week and fell by about 5% in the past month.
The renewed price strength appears to have attracted a wide range of investors Investors and traders The asset’s trading volume saw a significant rise of over 106% in the past day, indicating strong sentiment about the possibility of the altcoin achieving further gains in the coming days.
Featured image from Adobe Stock, chart from Tradingview.com
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