Cryptocurrency analysis company Amonyx has put Very bullish price forecast As for the price of XRP, expect the cryptocurrency to hit double digits at some point. This comes amid continued underperformance by XRP despite Conclusion of the case Between Ripple and the US Securities and Exchange Commission (SEC).
Massive Divine Candle Will Push XRP Price To $57
Cryptocurrency analyst Amonyx was mentioned on X (formerly Twitter) mail This is huge. God’s candle It was loading, which would XRP price rises to $57Based on the chart shared by the analyst, the cryptocurrency will rise to this price level sometime next year, possibly at the peak. This market cycle.
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The analyst failed to offer insights into what might cause XRP to reach such an ambitious price target. However, the latest X Post Analysts indicate that the analyst believes that the potential launch of XRP ETF It may allow the cryptocurrency to reach such unprecedented heights.
The XRP Spot ETF is a catalyst that other crypto analysts, such as Common Sense Crypto, have pointed to as an explanation for why XRP’s price has reached triple digits. An XRP Spot ETF would undoubtedly inject new funds into the XRP ecosystem, driving up the price. However, it remains uncertain whether such a fund could push XRP to such lofty heights.
The likelihood of launching a Spot XRP ETF seems higher after the recent conclusion of the case between Ripple and the SECHowever, members of the XRP community 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 price of XRP, especially after seeing how the cryptocurrency has performed since the lawsuit ended.
The conclusion of the Ripple-SEC case was expected to be a catalyst that could push XRP to as high as $1 in the near term. However, XRP has shown no signs of hitting that price mark anytime soon, failing to break the $0.6 resistance level even after Final ruling by Judge Analisa Torres.
XRP Bullish Breakout Will Push Price to $263
Cryptocurrency Analyst Javon Marks And more has been shown. Expect prices to rise For XRP, statement A bullish breakout is expected to send the cryptocurrency to $263 based on the full logarithmic follow-through indicator.
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The analyst added that this bullish breakout It’s possible, he said, noting that XRP is approaching the convergence point of “a roughly 7-year pattern/consolidation.” He added that the cryptocurrency also showed Multiple bullish signalsindicating that this bullish breakout may occur 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 using Dall.E, chart from Tradingview.com