Tag: xrp news

XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When
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The bullish predictions for the XRP price are back, even with the bulls struggling to push the crypto on a price surge. EGRAG, a cryptocurrency expert, has made one of these positive forecasts, which is that there will be a price spike of tremendous magnitude. According to the analyst’s recent post on social media, XRP could reach the $4 price level over the long term.

Crypto Analyst Predicts 700% Bullish XRP Price Action

XRP has experienced a small decline in value over the past few days as the entire crypto market consolidates in price action. XRP’s price movement this year has largely left many of its fervent enthusiasts feeling disappointed, particularly considering the fact that it is yet to reach the $1 mark as predicted by many analysts.

Data from Coinmarketcap shows XRP now finds itself bouncing around at the $0.51 price mark after retesting the $0.435 on April 13. However, according to EGRAG, this is poised to change soon.

EGRAG, known for this very bullish stance on XRP, recently noted in his analysis that the current XRP price movement mimics the 2021 move which saw it breaking as high as $1.8. According to his analysis, EGRAG divided the price outlook into two sections blue and yellow, each depicting mirror images of 2021 price movement.

#XRP Imitating 2021 – Move:

🔵 Blue Section: The current trajectory suggests a possible reach of $1.4 by June-July, a key target. The price range between ($1.2 – $1.8) is a plausible target.

🟡 Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.… pic.twitter.com/BMUJSbb5GQ

— EGRAG CRYPTO (@egragcrypto) April 25, 2024

The blue section is more of a narrow price trajectory which suggests that XRP could reach $1.4 by June or July, with a price range between $1.2 to $1.8. Meanwhile, the yellow section is a more bullish price trajectory. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow section of 2021’s movement. Interestingly, a surge to the $4 price level would put the price of XRP at a new all-time high.

What’s Next For XRP?

EGRAG is one of the many crypto analysts who are still bullish on XRP’s price trajectory. His long-term price projection for XRP is $27, which he believes is still viable. At the time of writing, XRP is trading at $0.5148, down by 16.8% in the past 30 days.

This means in order to reach $4 in July, the bulls will have to push the crypto on a 677% increase in less than three months. Although the volatile nature of cryptocurrencies suggests this price run is possible, current market dynamics point to modest XRP price gains at best.

On the other hand, on-chain metrics have revealed that a bullish sentiment might be returning to XRP. Notably, the amount of XRP wallets holding at least 1 million coins has been surging recently, which could be a signal of a coming price surge.
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XRP at $0.51 | Source: XRPUSDT on Tradingview.com
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Featured image from Coinpedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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April 27, 2024
Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39
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The future of the XRP price has been a hot topic of contention among crypto analysts for a while now. Most of these analyses focus on the possible movements of the price as the bull market unfolds, as well as possible price targets. In the same vein, crypto analyst CryptoBull has presented their own bull case for the altcoin, giving the most realistic price targets.

Long Time Price Channel Shows Realistic Price

In the analyst CryptoBull posted on X (formerly Twitter), he shows the historical price movement of the altcoin going as far back as 2014. The analyst uses this to deduce the possible trajectory of the XRP price in the coming months using the XRP price channel.

According to CryptoBull, using this data, the most realistic price for the altcoin currently sits somewhere between $13 and $39. ”The long-term price channel shows the most realistic #XRP price between $13 and $39 in the coming months!” CryptoBull stated.

The long term price channel shows the most realistic #XRP price between $13 and $39 in the coming months! pic.twitter.com/iuePJitybs

— CryptoBull (@CryptoBull2020) February 29, 2024

While the lower end of this channel of $13 was more realistic, the upper end of $39 has drawn criticism from the community. In response to CryptoBull’s prediction, another X user, Ben McClymans, said it was “crazy talk.” This is because for XRP’s price to reach $39 per coin, then its market cap would have to be larger than that of Ethereum, which is currently the second-largest cryptocurrency in the market.

However, other community members jumped to the defense of XRP, reminding Ben that the market cap of XRP had actually flipped Ethereum before. Given this, they believe that it is possible that it will end up flipping to Ethereum once again.

XRP Price Performance Worries Investors

The XRP price performance over the last few years has worried investors because while other altcoins were hitting new all-time highs, XRP continued to struggle. However, this is understandable given that the United States Securities and Exchange Commission (SEC) sued Ripple in 2020, which adversely affected XRP’s performance.

The XRP price had crashed off the back of the announcement alone and did not recover as well as expected. There is a light at the end of the tunnel, though, as the lawsuit with the SEC seems to be coming to an end. The court looks to be leaning toward a settlement, which would put an end to the case once and for all.

To get an idea of what could happen with the XRP price when the lawsuit is over, we can take a look at what happened when Ripple secured a partial victory over the SEC in 2023. After Judge Analisa Torres declared that XRP programmatic sales did not qualify as securities, XRP jumped more than 60% in a single day.

The lawsuit is currently the biggest hindrance to the XRP price performance, and expectations are that the price will surge once it’s over. If it does so, then CryptoBull’s prediction could end up playing out.
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XRP trending at $0.58 | Source: XRPUSD on Tradingview.com
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Featured image from Bitcoinist, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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March 1, 2024
XRP Price Alert: Breakout Could Confirm Today

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The XRP price has been in a downtrend since mid-November 2023. However, the XRP bulls seem to be taking control again if the following happens. An analysis of the 1-day chart of XRP/USD reveals that a potential price breakout is imminent.

As of February 15, 2024, the price indicates an uptick in bullish momentum, with the pair currently trading at $0.55335, marking a 4.1% increase in the last 24 hours. A closer inspection reveals that XRP is challenging two critical resistance levels.

XRP Price Needs To Break These Levels

First, the Fibonacci retracement levels, drawn from the swing high at approximately $0.74854 to the swing low at $0.43085, show that the XRP price is currently facing the 0.618 level at $0.55221, which is a notable level for traders as it often acts as a pivot in market sentiment. XRP’s push through this level could indicate a shift towards a bullish outlook.

Second, the 1-day chart also features a descending channel pattern, which began forming in early-December 2023. The upper boundary of this channel has been tested multiple times, and the current price action is once again approaching this boundary. A definitive breakout above this descending channel could signal a trend reversal.

XRP price on the cusp of a breakout, 1-day chart | Source: XRPUSD on TradingView.com

For this to happen, the XRP price needs to break above the $0.55 mark, which coincides with the 0.618 Fibonacci level. Adding to the bullish narrative, the Exponential Moving Averages (EMAs) show a potential bullish crossover in progress. The EMA 20 (red line) at $0.52865 is trending upwards, suggesting short-term momentum is gaining.

The EMA 50 (orange line) and EMA 100 (green line) are positioned at $0.54761 and $0.56331 respectively, with the EMA 200 (blue line) at $0.55985, serving as a long-term momentum indicator. A break above this cluster of EMAs, especially the 200-day EMA aka “bull line” could add to the bullish arguments.

Notably, volume levels have been moderate, and the Volume Oscillator does not show any abnormal spikes, indicating that the current price increase is not yet backed by significant trading volume. This could suggest that the breakout, if it occurs, may need to be confirmed with higher volume to sustain the move.

The Relative Strength Index (RSI) is at 59.62, which is below the overbought threshold of 70, indicating that there is still room for upward movement before the asset is considered overbought.

Breakout Confirmation Today?

Overall, traders need to keep a close eye on whether the XRP price can sustain its movement above the $0.55 to $0.56 range. If this is accompanied by an increase in volume, it could confirm the breakout from the descending channel and possibly lead to a new uptrend.

Given the current technical setup, today’s trading session is crucial for determining the short-term direction of XRP. If XRP closes above the 0.618 Fib, descending channel as well as 200-day EMA, the bulls could finally be back.

Featured image created with DALL·E, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Jake Simmons

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February 15, 2024
Exploit Causes XRP Price Crash: Ripple Co-founder Discloses Losses Of $113 Million

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XRP experienced a significant price drop early Wednesday amidst rumors of a potential exploit. The XRP price dropped more than 4% to $0.4853 but later recovered to $0.500 following a clarification from one of Ripple’s co-founders.

Personal XRP Accounts Impacted, Not Ripple’s

Initial reports suggested that Ripple had suffered a significant security breach, which was brought to light by decentralized finance (DeFi) investigator ZachXBT. These reports raised concerns about the overall security of the Ripple protocol.

According to investigations, the breach resulted in the theft of more than 213 million XRP tokens, valued at over $112 million. The stolen funds were reportedly laundered through cryptocurrency exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC.

However, Ripple co-founder Chris Larsen took to X (formerly Twitter) to clarify the situation. In a recent post, Larsen stated:

Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved.

XRP Price Analysis

Despite the recent security concerns, XRP is trading at $0.5085, marking a 3.4% decrease in the past 24 hours. However, beyond the Ripple co-founder’s personal account exploit, the XRP price has experienced a significant decline over the past month.

Over the last seven days, the token has seen a minor 1.3% drop. The decline has deepened in the previous fourteen days with a 10% decrease. This is more problematic for XRP enthusiasts because the price has lost significant ground over the past 30 days, with an 18% dip.

Nevertheless, XRP bull and crypto analyst EGRAG Crypto provides an intriguing price analysis that could potentially encourage investors toward a price recovery if the token manages to hold and consolidate above the $0.500 level.

XRP price targets are based on the Elliott Wave theory. Source: EGRAG Crypto on X

According to EGRAG, a handful of chart analysts have noted that after wave 1 of the Elliott Wave theory, wave 2 could retrace up to 90% of wave 1. The initial targets of $0.85 to $1 were successfully reached during the July pump, with the price reaching around $0.93 after Ripple’s partial victory against the SEC in its ongoing legal battle over XRP classification.

Currently, EGRAG suggests that a “wicking event” down to $0.41 is possible, considering a 10%-15% fluctuation due to the volatile nature of the crypto markets.

However, the analyst points out that the upside lies in the upcoming Wave 3, which is influenced by Wave 1 and typically has a ratio of 1.618 compared to Wave 1.

If all of this plays out, EGRAG ultimately sees the next short-term target for XRP being the all-time high (ATH) at $5. If the original wave count is adjusted, the range could be between $2.2 and $2.8.

The daily chart shows XRP’s price trading above $0.500. Source: XRPUSDT on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Ronaldo Marquez

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January 31, 2024
XRP Predicted To Rally 250% After Final Price Dip: Crypto Analyst

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In his latest technical outlook, crypto analyst Dark Defender has highlighted the key takeaways for XRP amid recent price action. Since hitting a yearly high of $0.64 on January 3, the XRP price has dropped -18.8%, leaving it at risk of further downside before the bulls could take over.

XRP Price Set For Final Dip?

According to the provided daily XRP/USD chart, the price closed below the significant level of $0.5286. As a result, the RSI has been “forced to stay below the Resistance Trend Line,” implying that bears are currently in control, exerting downward pressure on the price.

Price analysis, 1-day chart | Source: X @DefendDark

Remarkably, the price has been in a symmetrical triangle formation since November last year, which is considered a bullish continuation pattern. The XRP price has already been rejected three times at the descending resistance line. In tandem, the RSI on the 1-day chart has also formed a descending trend line. Each time the price was rejected at the resistance line, there was also a rejection of the RSI at the trend line.

Yesterday, Sunday, it looked as if XRP could break above the rising trend line of the RSI, and the price could follow suit and start another attempt to break out of the symmetrical triangle. Dark Defender wrote:

XRP moved towards $0.52-$0.53 as we expected. The target area was $0.5286 and XRP closed just above that level yesterday and had a break on the RSI. This is a great sign for XRP shortly to try the $0.60 Resistance […] But of course, will be more than happy to see XRP breaking $0.6649 first & proceed with the initial Fibonacci Target of Wave 3 at $1.88.

However, this game plan was invalidated as XRP closed below $0.5286 and the RSI trend line. Now, the analyst identifies two key support levels, the trend support at $0.5085 and the Fibonacci support at $0.4623. These levels are now considered pivotal as XRP trades under the $0.53 threshold.

Dark Defender emphasizes the importance of these supports: “So, $0.5085 & $0.4623 supports become more important now.”

The daily RSI indicator also suggests that XRP is in the oversold region, which typically indicates that the asset may be undervalued and could possibly reverse to the upside. However, the analyst cautions that the “weekly frame trumps the daily,” suggesting that longer time frames may influence the asset’s price more significantly. “The more XRP stays below $0.52, the more support becomes prominent,” he added.

Looking forward, Dark Defender anticipates a potential “wick below these levels to complete this exasperating correction” and hints at an eventual recovery, with expectations set towards “Wave 3 in the end.” This reference to Elliott Wave Theory suggests that following the correction, a strong upward trend could emerge. The final price target would then be $1.88.

Despite the current market conditions, Dark Defender advises the community to maintain a positive outlook: “Be positive and be strong since this will be over.” The statement conveys a sense of resilience and long-term perspective amid short-term market fluctuations.

At press time, XRP traded at $0.52297.

XRP price, 1-day chart | Source: XRPUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Jake Simmons

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January 29, 2024
Crypto Analyst Explains How XRP Could See Massive 4500% Jump To $27
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Crypto analyst Egrag Crypto has once again reiterated his prediction that XRP will hit $27 soon. This time, he provided an analysis of how that will happen using XRP’s moving average as a point of reference.

How Price Will Rise To $27

Egrag suggested in an X (formerly Twitter) post that XRP could rise to $27 while analyzing the 21 Exponential Moving Average (EMA) on the monthly time frame. The analyst assessed price percentages that occur when XRP’s price is positioned either above or on the 21 EMA. Using this, he then predicted that the altcoin hitting $27 was on the cards.

From the accompanying chart that the crypto analyst shared, one could see that he was simply hinting at XRP replicating past percentage moves. Back in 2017, XRP had risen by over 4500%. In 2018, it rose by another 1000% and saw a 500% increase in 2021 after years of consolidation.
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Source: X
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This isn’t the first time that Egrag is predicting that XRP will rise to $27. As part of his previous analysis of how XRP will rise to this price level, he stated that this was a “plausible target,” having the 2017 surge in mind when XRP saw a 61,000% gain in 280 days. Interestingly, Egrag’s recent chart shows that this price prediction could happen sometime this year.

XRP To $1.4 Before Then

In the meantime, Egrag predicts that XRP could rise to $1.4 between March and April. According to him, once that happens, it will pave the way for “swift progression to $5 and beyond.” $5 is another price level that the XRP community has its sights on, considering that the analyst had boldly claimed that the token will hit it in 90 days.

Meanwhile, the crypto analyst is also aware of the fact that XRP investors are growing anxious about the crypto token’s stagnant price action despite ultra-bullish predictions. He warned these individuals against letting their emotions get in the way as the outcome of these emotions is “suboptimal” for effective trading or investing in the crypto space.

To be successful in such a volatile market, Egrag claims that a strategic and disciplined approach is required. In the process, one is able to build mental fortitude. This is also critical as trading in the crypto space is “indeed a mental game, demanding robust, sharp, and resilient metal skills to navigate the dynamic and unpredictable nature of these markets.”

At the time of writing, XRP is trading at around $0.52, up over 3% in the last 24 hours, according to data from CoinMarketCap.
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Token price rebounds after drop | Source: XRPUSD on Tradingview.com
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Featured image from CoinJournal, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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January 27, 2024
Key Requirements For Spot XRP ETF Approval Revealed Amidst 4500% Price Surge Target

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Following Bitcoin’s spot exchange-traded fund (ETF) approval on January 11, market speculation has grown around the possibility of similar investment vehicles for major cryptocurrencies, including a spot XRP ETF. However, certain requirements and regulatory considerations must be met before such a development can occur.

Regulatory Prerequisites For Spot XRP ETF

FOX reporter Eleanor Terret clarifies the matter, stating that launching an XRP spot ETF would first require the establishment of a futures ETF.

In the case of Bitcoin, the approval of spot ETFs was conditional upon the Securities and Exchange Commission (SEC) concluding that the Chicago Mercantile Exchange (CME) Bitcoin futures market provided sufficient surveillance against fraud and manipulation.

Terret suggests that for XRP to have a spot ETF, a futures ETF must first be established, marking a step in the right direction.

Bloomberg ETF expert James Seyffart shares a similar sentiment, stating that he does not anticipate an XRP ETF launching this year. Seyffart cites the ongoing SEC case against Ripple as a factor influencing his stance, suggesting that an XRP ETF is more likely to emerge once the regulatory matter is resolved.

Seyffart adds that XRP futures trading on a regulated platform like the Chicago Mercantile Exchange would be a prerequisite for the SEC to consider any applications for a spot XRP ETF. Seyffart hints that an XRP futures ETF could also be advantageous in this context.

The SEC has maintained a cautious approach towards spot ETFs involving crypto assets due to concerns about potential market manipulation. Seyffart emphasizes that the availability of XRP futures trading on a regulated platform, such as the CME, would provide a favorable framework for the SEC’s consideration of a spot XRP ETF, especially given previous court rulings highlighting the correlation between futures and spot markets.

Amidst the ongoing speculation, blockchain firm Ripple seems to be preparing for potential involvement in the ETF space.

A recent job advertisement posted on Ripple’s website reveals their search for a Senior Manager in business Development, with a focus on institutional decentralized finance (DeFi). The role includes spearheading cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.

XRP’s Future Potential – From $0.5299 To $27?

Crypto market analyst EGRAG crypto has conducted a comprehensive price analysis of the XRP token. Despite peaking in 2023, when the price reached a high of $0.9376 on July 13, the token has retraced more than 15% since the start of 2024 to a current trading price of $0.5299.

However, according to EGRAG, the 21 Exponential Moving Average (EMA) on the monthly time frame is a significant indicator for assessing XRP’s price movement.

The analysis focuses on three price levels: $3.5, $6.5, and $27. Based on previous instances (labeled A, B, and C), EGRAG extrapolates potential future price movements using the same percentage increases observed in the past.

XRP’s price targets are based on historical patterns. Source: EGRAG Crypto on X

The first potential scenario is a significant price surge to $27, representing a massive 4500% increase. This prediction is based on a similar percentage move observed in the past (from previous instance A), seen in the chart above.

The second scenario suggests a more conservative projection, with XRP potentially experiencing a solid 1000% increase to $6.5. This projection is based on historical patterns observed in previous instance B.

In the third scenario, EGRAG anticipates a significant 500% rise in XRP’s price, reaching $3.5. Based on previous instance C, this projection indicates a significant upward movement for the token.

Whether the XRP token can successfully surpass the upper resistance levels that have impeded its rise to the $0.600 mark since late December remains to be seen.

Additionally, the market eagerly awaits a catalyst that could prompt a breakthrough in XRP’s seven-month downtrend structure, potentially resulting in a price surge above $0.700.

The daily chart shows XRP’s downtrend. Source: XRPUSDT on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Ronaldo Marquez

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January 27, 2024
Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move
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Crypto analyst Jaydee has outlined a scenario in which the XRP price could rise to as high as $20 at the peak of the next bull market. According to him, this price level is possible if certain factors are considered.

What Will Facilitate XRP Price Rise To $20

Jaydee mentioned in an X (formerly Twitter) post that $20 is a “possible top” for XRP using the market cap as a marker. For this to happen, he also noted that there must be a structure break on the charts.

The analyst, however, is not holding his breath for that to happen. He further remarked that he was going to take profits once XRP was overbought on multiple higher timeframes. Interestingly, Jaydee had once shown his skepticism about XRP rising to between $10 and $15. As such, his latest analysis came as a surprise to some of his followers.

Meanwhile, crypto analyst Egrag Crypto recently provided an analysis of XRP’s current state. He stated that things are looking bullish on the monthly time frame. He further hinted that a major pump was “brewing,” but there could be more move to the downside before that happens. This, he says, will be “enough to spook the weak hands.”

The analyst also gave an insight into how low XRP could drop in another X post. He noted that XRP was currently in a critical zone and that a weekly close below the ascending triangle’s edge could trigger a price downturn to $0.34. On the other hand, if XRP were to close above $0.75, Egg believes that would invalidate his current setup.

In the meantime, the analyst sees these current dips in the XRP market as an opportunity to accumulate more tokens while preparing for the pump that will “roll in fast mode.”
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Token price falls to $0.5 | Source: XRPUSD on Tradingview.com
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The Bottom For XRP’s Current Trend

The current belief among different crypto analysts seems to be that XRP is likely to decline further before it makes any parabolic move to the upside. Crypto analyst Ali Martinez had previously predicted that XRP could drop to $0.34 if it failed to hold above the $0.55 support level (which it has failed to do).

Now, crypto analyst XRP Shark is also echoing almost similar sentiments as he shared his belief that the price ranges between $.35 and $0.45 could be the bottom area for XRP’s move to the downside. Once the crypto token drops to that price range, he predicts that a “violent move to the upside” will follow.

As Egrag suggested, this move to the downside looks necessary to shake out weak hands before XRP experiences new highs. Crypto analyst Crypto Rover predicts that XRP will experience a “massive breakout” sometime in March.

Featured image from Coinpedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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January 23, 2024
XRP Price Set To Spike As Ripple Enters Another $1.5 Trillion Industry
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Global crypto payments provider Ripple is poised to venture into a substantial $1.5 trillion industry, signaling a potential surge for XRP. The company is strategically positioning itself to provide solutions to the financial complexities within this industry.

Ripple’s Strategic Expansion

In a recent Wednesday report published on X (formerly Twitter), Ripple, a blockchain-based digital payments network, revealed its latest expansion target to be the $1.5 trillion IT industry. The crypto network has envisioned a transformative role for Ripple in the IT industry where difficulties with cross-border payments and other financial challenges have long persisted.

“97% of payments leaders believe blockchain and digital assets will have a significant role in enabling faster payments within the next three years. In our latest payments guide, discover how to accelerate global payments for an IT services business,” Ripple stated.

While Ripple expressed its ambition to extend into this thriving industry, the crypto payments provider also outlined several ways IT service providers can utilize blockchain-based payments to overcome their financial problems.

According to Ripple, by using blockchain technology, many IT services can easily streamline payments to suppliers overseas. Additionally, blockchain-based payments can effectively solve issues like slow and expensive international wire transfers, high transaction fees, restrictive banking hours, and a lack of transparency.

While Ripple anticipates the IT industry to hit $1.5 trillion by 2024, the crypto payments provider has also expanded its focus to other sectors. In November 2023, Ripple announced its intention to dominate the $300 trillion payments sector.

This strategic expansion aligns with the company’s vision to revolutionize the traditional finance system and could serve as a catalyst to trigger a long-awaited surge in XRP prices.
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Token price declines to $0.57 | Source: XRPUSD On Tradingview.com
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What’s Next For XRP – Potential Surge?

Ripple’s possible entry into a trillion-dollar industry comes as a ray of hope for XRP ‘hodlers’ who have been waiting years to see a significant shift in the price of XRP. If Ripple’s advanced payment technology successfully becomes integrated into the vast IT industry, demand for its native token, XRP may rise.

Since 2023 till date, XRP has been unable to break resistance to reach the $1 price mark. However, Ripple’s move into a multi-trillion dollar market could lead to broader adoption of the cryptocurrency, potentially pushing XRP’s price to values predicted by various crypto analysts in the industry.

At the time of writing, XRP is trading at 0.5771 according to CoinMarketCap. The cryptocurrency is still trading miles below its all-time high of $3.84 in 2018.

Featured image from Zipmex, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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January 4, 2024
Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It's Impossible
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XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief.

Why The XRP Price Cannot Rise To $20,000

In a video on his YouTube Channel, Moon Lambo explained that XRP’s market cap will need to run into quadrillions of dollars if it were to achieve that price level based on its current market cap. However, from his calculation, there is not enough money in the world for such an occurrence, as at least $100 trillion will need to flow into the XRP ecosystem for that to happen.

According to the YouTuber, there is a “0% chance” that this will happen. He dismissed any argument that some assets could be sold off to fund this amount of inflows into the XRP ecosystem. This is unlikely to happen as those assets will need to go to zero to get the amount of liquidity needed to get the XRP price to $20,000, Moon Lambo argued.

XRP being worth that amount would also mean the crypto token having a market cap worth over ten times more than the value of the US stock market. Moon Lambo says that it is “utter nonsense” to think that this will happen. He believes there is no way that XRP can be more valuable than all the foremost companies in the US put together.

He also alluded to arguments that XRP can attain this price by becoming the currency for the global reserve. He says that swapping out the dollar, which currently accounts for a huge chunk of the global reserve, won’t still see the crypto token get the required liquidity to hit $20,000.
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XRP price at $0.63 | Source: XRPUSD on Tradingview.com
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Enough Reason To Still Be Excited As An XRP Holder

Despite his stance, Moon Lambo is still bullish on the XRP price. He stated that the crypto token doesn’t need this “crazy hype nonsense” for one to be excited as an XRP holder. The crypto analyst believes that as far as XRP is widely adopted, there is enough money that can flow into it, which could cause its price to hit three digits.

Unlike a price prediction of $20,000, XRP’s price hitting three digits is still within the “realm of possibilities.” However, Moon Lambo doesn’t see that instantaneously happening as he says that it could take “many market cycles.” The good news is that anyone who has been in on XRP for some time is already well-positioned for such a multiplier effect.

Meanwhile, analysts who have in the past made such “impossible” price predictions of $20,000 were not spared in the crypto analyst’s rant. Moon Lambo mentioned that such people only make baseless claims and do not provide justification for such assertions.

He provided insight into why these analysts make such predictions as he suggested that they were doing this to get more audience. He remarked that he would probably get more subscribers if he jumped on this “bandwagon.” However, he has no intention to do that as he says it will be “intellectually dishonest” to do that.

Featured image from Tekedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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January 3, 2024
Top Banker Reveals Why XRP Price Will Rise 390,000% To $2,500
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Crypto analyst Egrag Crypto recently shared an interesting story of his discussion with a top banker regarding the XRP price. The discussion centered around XRP, with Egrag and the banker analyzing how the altcoin could be worth $2,500 in the near future.

XRP Price To $2,500 Is A Possibility

Talks about XRP hitting $2,500 arose when the banker challenged Egrag to explain how 40,000 XRP could end up equalling $100 million. The banker was aware of Egrag’s knowledge of technical analysis and, from the story, seemed to have posed the question to see if Egrag believed XRP could attain such heights of $2,500.

The crypto analyst took up the challenge and explained to the banker, using a chart that he shared in his post, how XRP will hit $2,500. Egrag did justice with his explanation as the banker had nodded in agreement. The banker also went on to pinpoint how the financial cycles were aligned for the token to achieve this price action.

From the chart, the XRP price hitting this price level could happen by 2029. That is why the banker sees the altcoin as a long-term investment, as he says that holding the altcoin till then could yield incredible rewards. The crypto analyst provided insights into this banker’s wealth of experience as he is said to boast connections across all spheres in the banking and finance sector.

The banker had also alluded to how Ripple’s CTO, David Schwartz, had raised the prospect of 40,000 ETH being equal to $100 million. Then, it might have sounded implausible to many, but it has somehow materialized. He sees the same thing happening with XRP, just that this time, it could take longer, considering that ETH hit $2,500 in a shorter period.
```
Token price still showing strength  Source: XRPUSD on Tradingview.com
```
Holders Need To Be More Patient

Egrag has continued to reiterate that patience is key if XRP holders want to enjoy huge returns on their holdings. Going by this recent prediction, the XRP price could make a 390,000% gain for investors by 2029. However, it will require a lot of belief and perseverance if these holders hope to partake in such a mammoth gain.

In the meantime, the analyst is encouraging the community to accumulate as much XRP as they can. He stated that the banker told him that the crypto token could be the “ultimate savior” for liquidity when the tides slow down. This is a possibility, especially considering that a crypto founder had recently asserted that the crypto will surpass Bitcoin.

At the time of writing, the XRP price is trading at around $0.64, up by over 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from CoinMarketCap, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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December 28, 2023
Crypto Analyst Says Ignore FUD, XRP Is Headed To $5.85
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Crypto analyst Dark Defender has also weighed in on the recent narratives revolving around the XRP tepid price action. The analyst is choosing not to listen to any of those as he is confident that the future trajectory of the XRP token is bullish.

No Need To Listen To FUD

In a post on his X (formerly Twitter) platform, Dark Defender mentioned that he doesn’t listen to the FUD (Fear, uncertainty, and doubt). He also seemed to be urging the XRP community to ignore the FUD as he stated that the token is still proceeding according to “our plan” based on the weekly time frame.
```

Source: X
```
He alluded back to several comments and analyses he had made about XRP’s price action. One of them was on June 4, when he had set Wave 1 on the charts to $0.89. On June 21, he also detailed the target levels that XRP could attain. Meanwhile, he had set the limit for Wave 2 to $0.46 and Wave 3 to $1.88 on September 13.

Dark Defender noted that nothing has changed since then, as the targets “were and are the same.” The crypto analyst was basically suggesting that there was no need to be worried about XRP’s price action as everything was going according to plan from a technical analysis perspective.

XRP Still Headed To $5.85

As to XRP’s future trajectory, Dark Defender reaffirmed that the upcoming target is still $1.88 and $5.85 based on the Elliot Waves, which he had highlighted months back. From the accompanying chart that he shared, Dark Defender focused more on the $5.85 price level.
```
Source: X

```
He is confident in XRP hitting that price because he foresees the token touching the “261.80% Fibonacci Level at $5.85.” It won’t, however, be up from $1.88 as the crypto analyst predicts that there will be a correction from that price level.

Going by Dark Defender’s past price predictions, $5.85 won’t be the peak, as one can still expect upward price movement. The crypto analyst had previously mentioned that XRP would hit $18 soon enough. He noted then that XRP was likely going to face a strong resistance at $1.08. However, he projects that it will be “kaboom” once XRP is able to break from that level.

In the meantime, many will be hoping that XRP can at least experience a significant rally to end the year. At the time of writing, XRP is trading around $0.61, up over 1% in the last 24 hours, according to data from CoinMarketCap.
```
Token price at $0.61 | Source: XRPUSD on Tradingview.com
```
Featured image from U.Today, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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December 21, 2023
Changelly Releases Updated Predictions For XRP Price, When Will It Cross $10?
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Cryptocurrency exchange Changelly has released an updated prediction for the XRP price that spans almost a decade from now. The prices in the new predictions deviate heavily from their previous predictions, and this time around, the predictions include when the XRP price will cross $10.

XRP Price Will Cross $10 In 2030

While the XRP community members remain very optimistic that the XRP price will cross $10 in the next few years, with a number of crypto analysts presenting chart data to support this, Changelly does not believe that this will happen anytime soon. In fact, for the next couple of years, the crypto exchange expects a lot of growth but double-digits is seemingly off the table.

By 2024, the crypto exchange predicts that the XRP price will reach a max price of $1.11, but still expects it to stay relatively high with a minimum price of around $0.94. In the next few years, the growth is expected to continue, rising to as high as $5 in 2028.
```
Source: Changelly
```
However, for the XRP price to reach $10, investors would still have to wait another extra two years according to the report. In 2029, it predicts a maximum price of $8.07. And then finally, in 2030, Changelly expects the price to beat the coveted $10 mark.

Moving further from 2030, expectations are that the price will not fall below $10 again. Rather, it is expected to double in the next two years, hitting as high as $24.95 by the year 2032, which is nine years from now.
```
XRP trending at $0.596 | Source: XRPUSD on Tradingview.com
```
Expecting A Very Underwhelming 2024

The price predictions by Changelly for 2024 broken down into the individual months paints a picture of lackluster performance from the coin. The highest point expected for the XRP price puts it at only a 35% increase from the current price of $0.59 at the time of writing. The expectation given is that the highest price point would come at $0.8.

Changelly’s prediction seems to be a deviation from the norm where a number of predictions expect the XRP price to hit the high prices in the next two years. One crypto analyst known as EGRAG Crypto expects the price of the altcoins to reach $5.5. Interestingly, the analyst expects the price to hit this price in the next two weeks.

Another analyst known as Austin Hilton has also predicted that the XRP price will reach $1.5 once the SEC approves the Spot Bitcoin ETFs. According to Bloomberg analysts, these funds could be approved in January 2024, which means the XRP price could reach $1.5 in a month.

Featured image from Crypto News Flash, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Scott Matherson

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December 18, 2023
Crypto Analyst Predicts Short-Term XRP Price Rally To $18
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A crypto analyst has provided some optimism regarding the XRP price as many contemplate whether or not to continue to hold on to their XRP tokens. This comes as the crypto token’s underperformance has been a cause of concern to holders, with talks about a potential manipulation resounding through the community.

XRP Price To Hit $18 In The Short-Term

In a post on his X (formerly Twitter) platform, crypto analyst Dark Defender shared an interesting analysis where he noted that XRP could hit $18 soon enough. To back up his prediction, he noted that XRP was retesting the $0.6649. According to him, this level is “not a joke” as it is a very crucial one. An upward trend is expected from that price level based on his assertions.

Meanwhile, Dark Defender also shared XRP’s monthly chart in his post. From the chart, he noted that XRP was currently above the price level of $0.6649, which he had earlier referenced. This happening could see XRP move close to $1. On the chart, he highlighted $0.88 and $1.05 as targets that will be “achievable shortly.”

The rally, however, doesn’t stop there, as the crypto analyst claimed the “5 Wave EW Structure in the Monthly Chart is still in play.” This indicator points to XRP hitting $18.22 in the short mid-term. The journey to $18 isn’t expected to be all smooth, as he mentioned that XRP would face a strong resistance at $1.08.

The good news is that once XRP is able to break from that level, “it will be Kaboom,” in the words of Dark Defender. As to how soon XRP could hit $18, the accompanying chart suggests that this could happen between July and October 2024.
```
Token price falls to $0.62 | Source: XRPUSD on Tradingview.com 
```
A Growing Frustration In The XRP Community?

Over the weekend, a pro-XRP crypto influencer, Chloe, released an X post where she voiced her frustration at XRP’s price decline and stated that she had “sold it all.” Before that post suggesting that she had sold her XRP holdings, she had made an earlier post where she seemed very displeased with XRP’s price action.

Although Chloe later came out to clarify that she didn’t sell any “single XRP,” her earlier posts exemplify the growing frustration in the XRP community. At the moment, many seem puzzled by XRP’s abysmal price action. One of them is pro-XRP legal expert Bill Morgan, who recently questioned the reason for XRP’s underperformance.

In an X post, the lawyer stated that XRP has failed to outperform most of the other tokens in the top 10 by market cap despite gaining regulatory clarity. Interestingly, he noted that XRP’s price was higher five years ago than it is now. According to Morgan, there needs to be a better explanation for XRP’s price movement than just “saying it follows the market.”

Featured image from CoinGape, chart from Tradingview.com
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Scott Matherson

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December 11, 2023
Why Is XRP Price Up Today? Ripple’s Massive Buyback May Have The Answer
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XRP is one of the top gainers in the last 24 hours. As to why the crypto token is up, a popular crypto sleuth has some answers, as he recently revealed a significant move made by Ripple. This revelation also has the possibility of ending talks that XRP’s price is being manipulated by Ripple, considering that the crypto firm has so far shown that it has XRP’s best interest at heart.

Ripple Allegedly Buys Back Around 700 Million XRP

In a post on his X (formerly Twitter) platform, crypto sleuth Mr. Huber mentioned that Ripple bought back around 700 million XRP from the open market. According to him, Ripple usually does this to keep the XRP markets stable and liquid. This endeavor could explain why the token’s price has suddenly picked up.

The XRP price has underperformed in recent times, with many speculating why this could be happening. Some simply stated that the price was manipulated as there was no other logical reason to explain the underperformance, especially considering that other altcoins were enjoying significant gains.

However, Mr. Huber had another plausible explanation for this decline as he stated that it could be one of Ripple’s ODL customers selling their XRP tokens on the open market. It had previously been reported that Ripple’s XRP sales to these ODL customers do not impact prices on exchanges. However, it does when these customers, in turn, start to sell these XRP tokens to retail investors.

Therefore, noticing the trend of the XRP sales from ODL customers, Ripple could have bought back these XRP tokens in order to stabilize the XRP price. It is worth mentioning that Mr. Huber seems to have reached his conclusion of a massive buyback due to the decline in XRP’s circulating supply. He asserted that Ripple’s holdings are not calculated in the circulating supply.
```
XRP recovers above $0.68 | Source: XRPUSD on Tradingview.com
```
XRP Price Underperformance Is Concerning

Before his revelation about Ripple’s massive buyback, Mr. Huber had raised concern about XRP’s worrisome price action. He noted that the XRP price had “lost literally” all the gains it made against the broader crypto market following Judge Analisa Torres’ ruling. The Judge had ruled that the crypto token wasn’t a security in itself.

Many had predicted that this legal clarity was going to help boost XRP’s price, and it actually did in the weeks after the ruling. However, the XRP price has been on a notable decline since posting those gains. It has even become concerning ever since the broader crypto market picked up as many continue to wonder could be the reason for XRP’s rather relatively tepid movement.

At the time of writing, XRP is trading at around $0.69, up over 7% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Watcher Guru, chart from Tradingview.com
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Scott Matherson

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December 9, 2023
XRP Price To Go Parabolic? Crypto Analyst Confirms 1000% Golden Cross Has Returned
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The XRP price is still underperforming the general crypto market raising concerns among holders. However, it is not all bad for the cryptocurrency which boasts of one of the strongest communities in the sector. As for its price, the optimism toward a recovery remains high as crypto analyst JD has given a rather bullish prediction for the altcoin’s price.

XRP Price Confirms Golden Cross Fo 1000% Rally

In his latest analysis of the XRP price, crypto analyst JD has pointed out a bullish formation that could bode very good news for the altcoin. According to him, the cryptocurrency has confirmed a rare Golden Cross on its 4-day chart, and historical performance points to an at least 700% increase following this.

JD’s chart shows what happened the last two times that the XRP price confirmed such a Golden Cross. The first was back in 2017 when the asset’s price completed the Golden Cross after a four-year trendline breakout. Following this, the XRP price would go on to rise 700% in short succession.
```
Source: X
```
The next time that the Golden Cross appeared on the chart was back in 2020 just as the bull market was starting. This time around, there was a 1000% surge in the XRP price after this pattern was confirmed, mounting an even bigger rally than the previous occurrence.

If the XRP price sticks to this historical performance, then there could be an 800% increase, on average, for the price of the coin. However, if it also follows the trend of the most recent surge being higher than the last, the token could be looking at a more than 1000% increase, which would put its price above $6.
```
XRP locks above $0.64 | Source: XRPUSD on Tradingview.com
```
Beware The Pullback Before The Rally

While JD’s analysis paints an incredibly bullish picture for the XRP price, the analyst also warns of a pullback in the price before the rally. Both times that the Golden Cross has appeared, the token’s price has seen a pullback before confirming the breakout.

In 2017, there was a 64% price correction before the 700% surge. Then again in 2020 when the Golden Cross appeared, there was a 40% price correction before the price rallied 1000%. So it stands to reason that there will be a pullback this time around before a rally begins.

Currently, XRP bulls seem to be waking up once again after a brief period of consolidation. The price broke out above $0.64 on Thursday, and the bullish trend is expected to continue as Bitcoin and the crypto market recovers.

Featured image from Watcher Guru, chart from Tradingview.com
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Scott Matherson

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December 8, 2023
Valour XRP ETP Set To Begin Trading, Can Institutional Inflows Drive Price To $10?
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The XRP price may be gearing towards a bullish momentum with the potential release of multiple ETPs and the anticipated launch of Valour’s XRP ETP into the European markets next month.

Valour XRP ETP To Enter European Markets

Valour, a publicly traded company backed by DeFi Technologies, a crypto-based software organization, has announced a new XRP Exchange Traded Product (ETP). In a press release published on Wednesday, DeFi Technologies disclosed the launch of Valour’s XRP ETP in December 2023.

A popular YouTuber, Zack Rector has stated in a recent YouTube video that the token is positioned to take advantage of a large flow of liquidity driven by the initiation of multiple XRP ETPs.

Including Valour’s ETP, there have been many other ETPs launched by industry-leading crypto companies. 21 Shares, a Swiss financial institution, is one of the prominent companies that issued its XRP ETP (AXRP) in 2019. Since its launch, AXRP has recorded approximately $49 million in assets under its control and the ETP earns a year-to-date return of +69%.

Rector disclosed that the growing number of ETPs could trigger significant institutional inflows that could push the adoption of the token and possibly drive its price upwards. Furthermore, the integration of an XRP ETP has the potential to significantly advance the ecosystem by enhancing liquidity and improving accessibility for retail and institutional investors.

ETP Influence On The Price

The announcement of Valour’s XRP ETP comes as a positive development for the community and the broader crypto space. Various crypto investors have expressed their optimism about the significant impacts these ETPs could have on the XRP market.

Just as the news of Spot Bitcoin ETF applications propelled Bitcoin’s price above $37,000, institutional flows from Valour’s XRP ETP could drive the token’s price to $10.

The ETP issued by 21 Shares Ripple is a prime example of how XRP ETPs have performed in the past. After being traded 447 times on the market, this particular ETP generated $5 million in revenue.

Valour’s upcoming ETP has become a focal point for investors seeking strategic investment opportunities. Crypto investors are closely monitoring the market to assess the potential gains that may follow the ETP’s debut.

The anticipated launch of Ripple’s IPO and the final resolution of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) are also major events that could help drive the price of the token to higher levels.
```
Token price falls tot $0.619 | Source: XRPUSD On Tradingview.com
```
Featured image from Analytics Insight, chart from Tradingview.com
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Scott Matherson

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November 24, 2023
XRP Price Outlook: Expert Forecasts Potential Rise To $5.5
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In the evolving cryptocurrency market, XRP, currently ranked as the fifth largest digital asset, has recently exhibited a modest price increase compared to its major counterparts.

However, when examining XRP’s performance across various time frames, the token has reported significant gains. Nonetheless, it is worth noting that XRP is currently trading well below its yearly high, in contrast to its peers who have achieved and surpassed new highs in 2023 during the recent bullish surge.

Impending XRP Price Breakout?

Prominent industry expert using the pseudonym “Crypto Insight” on the X platform (formerly known as Twitter) shared an intriguing update with his over 20,000 followers, signaling an impending XRP blastoff.

According to Crypto Insight, it becomes apparent that XRP tends to lag behind the price action of Bitcoin (BTC), the leading cryptocurrency. However, there are indications that XRP breakouts are gradually converging with the movements of BTC.

Analyzing historical data, Crypto Insight highlights that the time taken for XRP to experience significant breakouts has been decreasing over time.

The first major breakout took approximately 22 days, while the most recent pump occurred within a shorter time frame of 13 days. If this trend of closing the gap between XRP and BTC continues, it suggests a potential breakout date around November 15th.

Additionally, XRP has undergone a cooling-off period in the 4-hour time frame, implying that there might be further room for a downside correction before a reversal to the upside occurs.

Crypto Analyst Targets $5.5

Crypto analyst Egrag Crypto has recently unveiled a noteworthy forecast for XRP, centering around the Multi-Year Ascending Triangle (MYAT) pattern, which holds significant implications for XRP’s price movements.

XRP’s MYAT pattern. Source: Egrag Crypto on X.

According to Egrag’s analysis, The MYAT pattern indicates that XRP experienced a breakout above the Symmetrical Triangle after reaching the 70% completion mark, which aligns with the timeline of July on the chart.

The surge in price to $0.93 and the subsequent retest at the breakout point are seen as part of a standard retest process, indicating potential strength in the upward momentum.

Looking ahead, Egarg Crypto highlights several key projections for XRP:
1. XRP appears to be poised to reach a target of $1.3, as indicated by the Blue Ascending Triangle on the chart. This level represents a significant milestone that XRP could potentially achieve in the near future.
2. The next notable move for XRP could potentially propel it to $5.5. However, it is important to note that at this price level, a considerable selloff by retail investors is anticipated, according to Egrag.
3. Building upon the larger symmetrical triangle pattern, Egarg Crypto suggests that XRP could see a remarkable 500% price increase in the future, indicating the potential for a substantial pump.
XRP’s consolidation above $0.600 on the daily chart. Source: XRPUSDT on TradingView.com

Currently, XRP is grappling with the challenge of establishing consolidation above the crucial $0.600 level, which holds significant implications for the cryptocurrency’s future price uptrend and overall prospects. In the past 30 days, XRP has recorded a gain of 35%.

However, the sustainability of this price action for the anticipated second leg up in November remains uncertain.

Featured image from Shutterstock, chart from TradingView.com
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Ronaldo Marquez

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November 10, 2023
Want To Get Into XRP? Crypto Analyst Reveals The Ideal Price
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As the market continues to rally, many begin to feel that they have missed the chance to get in early on their favorite altcoins, including XRP. However, a prominent crypto analyst has provided hope to those still looking to get in on the token as he talks of the possibility of a correction and the ideal price to accumulate the crypto token.

The Right Time To Be A “Buyer”

In a post shared on his X (formerly Twitter) platform, the CEO and founder of MN Trading, Michaël van de Poppe, acknowledged how the price of XRP has been rallying in recent times. He further went on to hint at the fact that XRP has always corrected whenever it experienced such rallies. The one that he pinpointed was when the token corrected from $0.93 to $0.45 before its resurgence.

As such, his belief seems to be that the XRP will dip once again. This time, he stated that an ideal time to be a buyer will be if XRP is able to correct to around $0.54.

However, many in the XRP community will be hoping that XRP continues to rally from henceforth, especially considering that it just recently hit the $0.7 price mark. The technical and fundamental analysis surrounding the XRP ecosystem seems to be bullish, with many predicting more upward trend from the $0.7 mark.

In a recent X post, renowned crypto analyst Egrag, who had predicted that a god candle was coming for XRP, mentioned that that XRP just witnessed an “exciting development.” This is because the 21 Exponential Moving Average (EMA) has crossed over the 55 MA. According to him, this “bullish crossover” historically signifies the beginning of “significant price explosions.”
```

Source: X
```
To consolidate this development, he stated how XRP closing above the $51.3 billion Fib 0.702 level was critical as it could be the “watershed moment for our victory.”

XRP Fundamentals Are Also Bullish

The Ripple Swell Conference 2023 is currently ongoing, and the event has lived up to the hype following Ripple’s latest announcements. Apart from the rebranding of its payment service as Ripple Payments, the crypto company also announced how its partner Onafriq will begin utilizing its payment service. This move would see Ripple open up the cross-border payments structure across three continents: Africa, Europe, and Australia.

The crypto company is also expected to make more announcements before the conference comes to a close on November 9. Ripple isn’t resting on its laurels, as the company feels more confident than ever to keep expanding. By extension, this will increase the utility of the XRP token, which is an important piece in its Ripple Payments service.
```
Token price readies to retest $0.7 | Source: XRPUSD on Tradingview.com
```
Featured image from Decrypt, chart from Tradingview.com
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Scott Matherson

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November 9, 2023
Crypto Analyst Says XRP Price Has Entered Markup Phase, Why This Is Important
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The XRP price is still in an incredibly bullish position despite the recent pullback and the general sentiment in the community matches this bullishness. One crypto analyst explains the current trend as the altcoin having entered what is referred to as a “markup phase.”

XRP Price Leaves Accumulation To Markup Phase

Crypto analyst and trade The Signalyst took to TradingView to share an interesting phase that the XRP price had entered. Using a chart, the crypto analyst outlined where the altcoin’s price had been in the past, where it is now, and where it is headed using distinct terms.

The first phase outlined in the chart is the markdown phase which took place after the price surge following Ripple’s first victory over the United States Securities and Exchange Commission (SEC) in July. This markdown phase saw the price go from as high as $0.9 to as low as $0.45 when all was said and done.

What came after the markdown phase was complete was the accumulation phase. Here, the XRP price traded in a pretty tight range, offering an opportunity for investors to buy as many coins as possible. During this phase, the price never crossed above $0.55.
```
Source: TradingView.com
```
Next came the markup phase which is where the XRP price is currently residing. This markup phase is when the price starts to recover. “After breaking above the 0.55 level mentioned in my previous idea, XRP exited the accumulation phase and entered the markup phase,” the analyst said.

This markup phase is important in the fact that it possesses the strength for the XRP price to continue to grow. However, like with any rally, it faces a good measure of resistance from bears who continue to try to pull the price down.
```
XRP recovers above $0.68 | Source: XRPUSD on Tradingview.com
```
The most important level for bulls to break in this markup phase, according to the analyst, is $0.7345, from which the price has already been rejected once on Monday. The Signalyst believes that if this level is broken, then bulls can maintain control of the price. The chart suggests a rise as high as $0.8 following a break of this resistance; an event that would cement XRP’s bull rally.

“Meanwhile, XRP could still face rejection at the resistance, which can be confirmed on lower timeframes,” the analyst warned. “In this scenario, a correction towards the 0.55 support level would be anticipated.”

Despite the drawdown, the XRP price is still showing bullishness and a high level of interest from investors. Its daily trading volume is up 32% in the last day, breaking above $3.3 billion. Its price is currently sitting at $0.69, up 1.63% and 21% on the daily and weekly charts, respectively.
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Best Owie

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November 7, 2023