Cryptocurrency analyst Chad Steingraber It was made Very bullish price forecast for the price of XRP, explaining that the price of the cryptocurrency token could rise to three digits. The analyst also explained when this price target will be achieved.
XRP will reach $250 this market cycle
Steingraber is mentioned in X (formerly Twitter) mail That XRP will reach $250 by 2025, which he believes it will represent Top of the market For the encryption code in That's bull run. He made this prediction while saying that Bitcoin and Ethereum will reach $250,000 and $25,000 in 2025, which will also be their highest market price.
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Steingrabber did Previously presented There are several reasons why he is so bullish on XRP and believes the cryptocurrency token can reach such heights. He once hinted at a potential XRP ETF as a factor that could lead to significant spikes in XRP prices. He explained that the XRP ETF will give the cryptocurrency token an additional benefit as a source of funds for XRP ETFs They will direct their assets to the institutional liquidity center.
A. believes XRP ETF This will increase the demand for the cryptocurrency, eventually causing its price to rise when a supply shock occurs. Steingraber also believes that Securities and Exchange Commission (SEC) The lawsuit against Ripple is one of the factors that has suppressed the price of XRP so far.
He had earlier claimed that the price of XRP did not rise because new money did not flow into its ecosystem and asserted that the cryptocurrency token would likely see an influx of new money once it was released. SEC case against Ripple I finish. Steingraber is not the only one who believes that the price of XRP could rise to triple digits once the lawsuit ends.
Cryptocurrency analyst JackTheRippler also And he expected That XRP will rise above $100 once the issue is over. The analyst even gave a more bullish prediction than Steingraber's, noting that XRP reaching $10,000 was possible after the lawsuit. CryptoBull cryptocurrency analyst as well And he expected The price of XRP could reach triple digits, rising 28,900% to $154.
XRP price reaches $7.5 in the meantime
Egrag Crypto Cryptocurrency Analyst He suggested that XRP rising to $7.5 is a target price to watch before the cryptocurrency token reaches the heights that analysts like Steingraber expect. in Share XHe stated that “$7.5 is the No. 1 target.” Igraj went on to explain how this is done Move to $7.5 It is likely to happen.
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He stated that he is fully convinced that XRP will break the white triangle (on the chart he shared) and reach The movement measured at $1.5. From there, XRP is expected to move to $7.5. However, he warned that the 1.618 Fibonacci area where $7.5 is located is a “critical” area and that many… Take profits It will happen there, suggesting that XRP could fall significantly once it reaches these highs.
Egrag added that the next targets for XRP would be “mid-double numbers near Fibonacci 2.414 and 2.618” if XRP posts a weekly close above Fibonacci 1.618.
Featured image created with Dall.E, chart from Tradingview.com