Cryptocurrency analyst expects that XRP priceThe native cryptocurrency XRP Ledger (XRPL) is expected to see a 1,000x surge soon. Despite the recent significant price drop in the cryptocurrency, the analyst remains confident about XRP’s future prospects.
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XRP is poised for a 1000x surge
A crypto analyst named “Mickle” has been identified on X (formerly Twitter). subscriber Bullish views on the future value of XRP, confirming the cryptocurrency’s ability to break out of bearish trends and witnessed Mass demonstration To new heights.
During his video post, Mikel revealed that XRP could see a massive surge of up to 1000x soon. This means that the cryptocurrency analyst XRP price expected to rise From its current value of $0.57 to $570 in this bullish cycle.
The analyst based his analysis on: Ambitious predictions On positive regulatory change in the United States. According to Mickel, the United States is set to witness a massive political shift that will benefit the industry by providing Systems In order for cryptocurrencies to flourish. As a result, prominent cryptocurrencies including XRP are poised for a major breakthrough.
Mikel revealed that the cryptocurrency community has suffered a severe crisis. Hostile environment in the United Stateswhich has been marked by several leading regulatory bodies taking seemingly aggressive enforcement action against the industry. Despite this ChallengesThe analyst noted that the encryption space showed Remarkable flexibility and perseveranceemerging stronger after winning multiple court cases and successfully pushing for pro-crypto legislation.
Despite recent events XRP price dropMikel continues to be optimistic, reinforcing his predictions in his latest post. According to the analyst, XRP price action is currently in the process of completing a massive formation similar to symmetrical triangle pattern Seen between 2013 and 2017.
michael Spotlight During the formation of the XRP triangle from 2013 to 2017, the cryptocurrency faced multiple declines and bearish sentiments. However, despite DowntrendXRP has seen an unexpected surge, reaching new price levels.
Based on this analysis, the crypto analyst suggests that XRP is currently in a similar downtrend but with bullish outlook for the futureIt is believed that if XRP succeeds in completing this symmetrical triangle pattern, it is likely to witness a massive upside. Breakout to the top.
XRP Price Drops Below $0.6
Earlier this week, XRP price The dollar price was trading above the $0.6 level, indicating a strong tendency to break out of the downtrend and continue its upward momentum. However, in the last 24 hours, Cryptocurrency has fallen Up a massive 10%, it is currently trading at $0.57.
According to CoinMarketCap, XRP has also seen a sharp drop of 4.2% over the past seven days. This unexpected price drop comes as Legal battle Negotiations between Ripple and the US Securities and Exchange Commission (SEC) are nearing their end.
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However, the market intelligence platform, Santiment, has open When prominent cryptocurrencies like XRP, ETH, BTC, etc. show low returns to traders on average for 7 days, it indicates an increasing likelihood of price bounce.
Featured image by Seeking Alpha, chart by TradingView
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