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Cryptocurrency analyst Amonyx provided a very bullish price forecast for Ripple price. Based on his analysis, cryptocurrencies could soon enjoy a huge pump that will lead to a collapse Earn price Nearly 80,000%.
The price of XRP to enjoy the “Giga Pump” reaches $400
Amonyx mentioned in X post that the XRP Giga Pump is coming. Based on the accompanying chart,… Ripple price It can enjoy massive appreciation up to $400. Such a price rise would represent an increase in the price of cryptocurrencies by approximately 80,000%. The analyst made this prediction using… Elliot wave theory.
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The expected rise to $400 represents an impulsive move of wave 5, as the analyst chart shows that this move to the upside was already in effect. However, the accompanying chart fails to show specifically when this parabolic move will occur, even though it looks like a peak price target. This market cycle.
Interestingly, about a month ago, Ammonex anticipation That the price of XRP could rise to between $50 and $57 this cycle, which seemed to be the peak target for this rally. As such, his latest forecast suggests that the analyst is becoming more optimistic about XRP’s trajectory. His extremely bullish view of XRP could be related to the recent filings made by Bitwise and Canary Capital to introduce XRP ETFs.
Approval of these funds could attract more institutional investors to the XRP ecosystem, increasing inflows into the cryptocurrency and leading to a potential price rise. Amonyx also seems confident that SEC and Ripple It will resolve their ongoing legal battle. Therefore, the lawsuit will no longer act as an obstacle to the potential growth of XRP.
The settlement could also signal the potential approval of pending applications for the XRP ETF as that would confirm that the Commission no longer believes the cryptocurrency represents a security.
XRP breaks all-time high
Amid the extremely bullish outlook, cryptocurrency analyst Jayde gave a more conservative price target. analyst anticipation The price of XRP will rise to $6.5, marking a new all-time high (ATH) for cryptocurrencies. Cryptographic analyzer Egrag Crypto recently stated That XRP will at least rise to $5.89 in the worst-case scenario for cryptocurrencies in this uptrend.
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Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this uptrend. Cryptographic analyzer Creditball Crypto Prediction That the cryptocurrency could reach $10 this market cycle is based on his belief that ETH will reach $10,000.
XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, cryptanalyst Dark Defender He told market participants that there will be an “extraordinary” breakout starting this month.
Featured image created with Dall.E, chart from Tradingview.com