GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout
News

XRP to Break Out? Analysts Predict Mega Run with Targets Up to $1.50

Ripple xrp

  • EGRAG CRYPTO and Javon Marks foresee the potential for XRP’s surge based on technical analysis.
  • Analysts predict further growth, with targets ranging from $1.20 to $1.50.

Cryptocurrency enthusiasts are closely monitoring the recent price movements of Ripple’s native token, XRP, which has seen notable volatility in the past week. Currently trading between $0.51 and $0.54, XRP has experienced a 2% increase over the past 14 days. On-chain metrics, such as the rising long/short ratio and the total number of XRP holders, further reflect bullish sentiment among traders.

Analyst Predictions for XRP’s Future

According to an analysis by EGRAG CRYPTO, XRP’s recent performance aligns with previous expectations and Fibonacci levels, particularly the 0.702 – 0.786 range. The analyst suggests that XRP’s next target lies within the $1.20-$1.50 range, identifying the $0.70 – $0.75 zone as a critical breakout point.

Additionally, EGRAG CRYPTO points to the “Atlas line,” an ascending trendline indicating historical price rebounds and significant spikes, as further evidence of XRP’s potential for growth.

Javon Marks adds to the bullish sentiment, highlighting a “hidden bull divergence” observed in XRP’s price behavior over recent months. This divergence, according to Marks, could lead to sudden mass expansion in XRP’s value. Earlier predictions from Marks suggested that XRP was nearing a major converging point and showcased an RSI pattern indicating underlying momentum in prices.

Mixed Predictions for XRP’s Future Price Trajectory

Analysts remain divided on the future price trajectory of XRP, Ripple’s native cryptocurrency. While some, like BarriC, maintain a bullish outlook, predicting eventual price spikes to $1,000 based on historical growth patterns of other cryptocurrencies, others, such as Moon Lambo, are more skeptical. 

Moon Lambo argues that XRP’s liquidity constraints may hinder it from reaching three-figure prices, suggesting that mainstream adoption could only push it into the triple digits. More moderate predictions from analysts like CryptoBull and JackTheRippler range from $100 to $154, contingent upon the resolution of the ongoing SEC lawsuit.

Crypto analysts Babenski and U-Copy anticipate a potential breakout for XRP after years of accumulation. Babenski predicts a significant surge in price, potentially surpassing its all-time high to reach $6, while U-Copy suggests that XRP’s triangular formation could culminate in a breakout by December 2024. These predictions signal optimism for XRP’s future performance, albeit with varying degrees of bullishness.

Impact of the Ripple v. SEC Lawsuit

One crucial factor influencing XRP’s price dynamics is the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). Since December 2020, Ripple has been embroiled in a lawsuit with the SEC, which alleges that the company conducted an unregistered securities offering by selling XRP, raising over $1.3 billion.

Pro-XRP lawyer John Deaton has renewed calls for the resignation of SEC Chair Gary Gensler. Deaton contends that the SEC’s approach to crypto regulation has been overly stringent, stifling innovation within the industry. The call for Gensler’s resignation underscores the contentious relationship between regulators and certain segments of the crypto community, reflecting broader frustrations with regulatory overreach.

Latest Press

post-thumbnail
News
6 hours ago
Venezuela’s Bitcoin Mining Crisis: Government Actions and Potential Gas-Powered Solutions
Venezuelan Bitcoin miners halt operations as government disconnects power, citing strain on national...
READ MORE
post-thumbnail
News
6 hours ago
Solana Faces Bearish Pressure Despite Bullish On-Chain Metrics: What’s Next for SOL’s Price?
The post Solana Faces Bearish Pressure Despite Bullish On-Chain Metrics: What’s Next for SOL’s P...
READ MORE
default post thumbnail
News
6 hours ago
DOGE To The Moon: This Dogecoin Metric Just Turned Bullish For The First Time Since 2020
Dogecoin (DOGE) is again in the spotlight as the foremost meme coin could be ready for takeoff. This...
READ MORE
default post thumbnail
News
6 hours ago
Lido (LDO) Poised For Explosive Surge To $17, Expert Forecasts ‘Massive Breakout’
Lido Finance, the liquid staking protocol for the Ethereum (ETH) network, has experienced significan...
READ MORE
default post thumbnail
News
6 hours ago
Curve Founder Faces Massive Blow As CRV Price Dives 40%, Multi-Million Dollar Liquidations
A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in sub...
READ MORE
default post thumbnail
News
6 hours ago
Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’
Despite the price crash after rising to $69,000, the Bitcoin price remains in the game, with bulls c...
READ MORE
default post thumbnail
News
6 hours ago
Bitcoin Stuck: Here Are 2 Things That Must Happen For BTC To Break $72,000
At spot rates, Bitcoin is firm, but traders doubt the uptrend following the unexpected dump on June ...
READ MORE
default post thumbnail
News
6 hours ago
Memecoin Fight: DADDY Surpasses MOTHER Despite Insider Trading Activity Allegations
The celebrity memecoin mania has added a new player with the recently launched Daddy Tate (DADDY). T...
READ MORE
post-thumbnail
News
6 hours ago
These Altcoin Projects Have Raised the Most Capital in 2024
In 2024, several altcoin projects have secured substantial funding, showcasing growing investor conf...
READ MORE
default post thumbnail
News
6 hours ago
Paxos Reportedly Downsizes Workforce by 20%: Details
Stablecoin issuing company Paxos has laid off 20% of its workforce, decreasing its employee count by...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started