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Tag: XRP Price

  • From Stalemate To Surge? XRP Bulls Eye $2.94 Break For Fresh Upside

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  • XRP Millionaires Dump After Major Accumulation Trend, Will It Be A Red September?

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    XRP’s large holder cohort, specifically addresses holding between 10 million and 100 million XRP, has shifted from accumulation in the second half of August to significant dumping at the start of September. 

    On-chain data from analytics platform Santiment reveals a sharp reversal in holdings, both in terms of circulating supply percentage and the number of coins held by this cohort. This change raises concerns about the sustainability of XRP’s price, which has been facing rejections above $2.8, and whether September could be a bearish month for the token.

    XRP Millionaires Start September With A Selloff

    XRP millionaire wallets, which are addresses holding between 10 million and 100 million XRP coins, aggressively increased their holdings during the second half of August. Based on the current price of XRP, each of these addresses is sitting on $28 million and $280 million worth of XRP, depending on the size of their wallets.

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    Particularly, Santiment’s data shows that the percentage of XRP supply held by these addresses rose from 11.67% on August 16 to 12.19% by the end of the month. In terms of numbers, their stash grew from about 7.5 billion XRP coins to 7.85 billion XRP. This surge in accumulation showed the confidence among large investors, which contributed to XRP successfully holding above the $3 price level throughout the month.

    However, September has opened with an abrupt reversal. On September 1, whale holdings accounted for 12.19% of the circulating supply, but by September 3, that figure had dropped to 11.77%. In coin terms, the balance fell from 7.85 billion XRP to 7.61 billion XRP, wiping out much of the late August accumulation in just a few days.

    Source: Chart from Santiment

    This decline is clearly illustrated in Santiment’s chart below, which shows a synchronized dip in both percentage supply and absolute holdings. This rapid offloading means that these millionaire wallets may be taking profits after August’s rally, and it introduces downside pressure that could have effects on XRP’s price action throughout September.

    Could This Mean A Red September For XRP?

    September has been a mixed month for XRP, with both strong rallies and painful corrections shaping investor sentiment. According to data from CryptoRank, the last time XRP saw a red September was back in 2021, when it fell sharply by 20.1%. Since then, however, XRP has managed to string together three consecutive green Septembers, including a 46.2% increase in September 2022.

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    This track record shows that while September has the potential to bring losses, it has also been highlighted by gains. Although it is too early to declare a repeat scenario of a red September, the sell-off from millionaires at the beginning of September sets a worrying precedent.

    XRP’s price action is already showing signs of strain, with the token repeatedly facing rejections above $2.8 in recent days. If these millionaire wallets continue to offload their holdings, the bullish sentiment surrounding XRP may weaken, which may lead to further declines.

    At the time of writing, XRP is trading at $2.82, up by 0.2% in the past 24 hours.

    XRP
    XRP trading at $2.84 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

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    Scott Matherson

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  • Analyst Says XRP Price Is Set To Hit $4 If It Breaks This Resistance Line

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    The XRP price has been one of the most closely watched cryptocurrencies in the market, and technical analysts are now pointing to a major breakout setup that could send its value to new levels. According to TradingView crypto market analyst HolderStat, XRP is currently consolidating, with a critical resistance line standing between the cryptocurrency and a potential surge toward $4. 

    Daily Chart Signals Consolidation Before Breakout

    On the daily timeframe, HolderStat highlights in his chart analysis on TradingView how XRP has recently completed a breakout from a large triangle formation that developed over several months. This move carried the asset sharply higher, but after reaching its peak, the price entered into a consolidation zone.

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    The analyst’s chart now shows that XRP is trading sideways near $3.20-$3.48, indicating that buyers may be soaking up sell pressure while preparing for the next move. The analysis also identifies $3.48 as the immediate resistance line that traders are closely watching. 

    Source: Chart from HolderStat on Tradingview

    HolderStat predicts that a decisive breakout above this resistance line could pave the way toward higher targets at $3.8 and possibly $4, levels not seen since XRP’s previous ATH rally in the 2018 bull market. On the downside, $3.20 remains the key support level. If XRP fails to hold this line, it could face renewed selling pressure, potentially triggering steeper price corrections. 

    Overall, HolderStat’s chart structure suggests that momentum is building for XRP, with sideways price action viewed as a healthy pause before the next leg. At the time of writing, CoinMarketCap data shows the cryptocurrency trading at $3.00, up 2.79% over the past 24 hours and 3.33% in the last seven days. 

    6H Chart Shows Accumulation With Higher Levels

    In a follow-up analysis, HolderStat shared a 6-hour chart, which shows a similar but more detailed accumulation pattern for XRP. The shorter timeframe reveals that the token has been printing higher lows while consolidating within a channel. This type of market behavior often indicates that bulls may be taking control, as bearish pressure subsides. 

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    The analysis also underscores the importance of the $2.70 support level. As long as the XRP price holds this critical zone, HolderStat notes that the bullish structure remains intact, and the price has a strong chance of breaking higher. Building on this momentum, he predicts that a successful move beyond $3.20 – $3.40 on the 6-hour chart would confirm the bullish continuation, reinforcing the outlook presented in the previous daily analysis. 

    The analyst’s findings are further supported by other market watchers. SwallowAcademy, another crypto expert on TradingView, commented that the market appears to be coiling up, with consolidation acting as a springboard for the next potential rally. If momentum picks up, the analyst agrees that XRP could quickly advance toward $3.8 and $4 in the short term.

    XRP
    XRP trading at $3.01 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

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    Scott Matherson

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  • XRP Dips Under $3: Analyst Warns $2.6 Or Even $2 Could Be Next

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    Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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  • XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals

    XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals

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    Este artículo también está disponible en español.

    Earlier in August, the XRP community got some positive news when the court ruled that Ripple Labs should pay a $125 million fine to the United States Securities and Exchange Commission (SEC) for selling unregistered securities. However, the regulator has been unhappy with this decision, leading to an appeal of the court’s decision. Naturally, the appeal has pushed back the finish line for the 4-year battle, but the end could still be very bullish for the XRP price.

    The XRP Crash Before The Surge

    While the SEC and Ripple continue to battle it out in court, a pseudonymous crypto analyst on the TradingView website who goes by the name AnalysisParalysis has shared their expectation for the XRP price. In this case, the crypto analyst expects that the altcoin’s price will rally. But not without first suffering a decline due to the SEC appeal.

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    According to the analyst, the SEC appeal is expected to come sometime before October 6, 2024, during which time they expect the XRP price to struggle. “I believe this will be the catalyst this time around that causes XRP to crash just before its going to go on a massive upward movement,” the analyst said.

    The initial crash here is expected to cross 30%, pushing the price as low as $0.33. However, after this, fireworks are expected to follow as the XRP price begins its uptrend. From here, the altcoin is expected to clear the $1 easily, moving toward new all-time highs in the process.

    As for how high the XRP price could go, the crypto analyst believes that it could rise as high as $8.80. If this happens, it would mean a 2,566% increase from the $0.33 lows expected after the price crash. The analyst speculates that the timeframe for the altcoin’s price to touch this new all-time high is sometime in summer 2025. So, somewhere between June and September 2025.

    The State Of The Ripple Vs. SEC Lawsuit

    Currently, the battle between Ripple and the SEC rages on as the regulator has appealed the court’s decision that secondary programmatic sales of XRP tokens do not count as a securities offering. The outcome of the appeal is still heavily debated but securities lawyer Marc Fagel has offered various possibilities.

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    On an X (formerly Twitter) post, Fagel stated;

    “The Court of Appeals could conclude the district court erred in stating that XRP is not itself a security; and if it is, then the holding on programmatic sales gets reversed. But they could also reverse the programmatic sales without addressing the question of XRP being a security per se (as seems more likely).”

    However, way the appeal does play out, the consensus remains that a final end to the battle between the crypto firm and the regulator would be good for the XRP price. Projections following the outcome have ranged from a price tag of $1 to as high as $100.

    Price maintains uptrend despite market decline | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • XRP Confirms Bullish Reversal: Analyst Forecasts ‘God Candles’

    XRP Confirms Bullish Reversal: Analyst Forecasts ‘God Candles’

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    Crypto analyst Dark Defender has shared an extremely bullish technical analysis on XRP via X, suggesting a bullish reversal and the possibility of “God Candles.” The analysis uses a variety of technical indicators and chart patterns to project an optimistic outlook for XRP.

    XRP Price Poised For ‘God Candles’?

    The core of Dark Defender’s (@DefendDark) analysis is focused at two indicators which suggest a change of trend. The first one is the breakout above a descending trendline. This move is critical as it means that XRP eliminated its first key resistance and suggests a potential reversal from the downward trend which started in mid-March. It is particularly noteworthy as it indicates a shift in market sentiment from bearish to bullish.

    XRP technical price analysis | Source: X @DefendDark

    Supporting this trend reversal is the Fisher Transform indicator, which is crucial for identifying major price reversals. The Fisher Transform uses price data to produce a Gaussian normal distribution to signal potential changes in market direction. 

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    On the weekly chart, a ‘Golden Cross’ is visible where the faster line of the Fisher Transform crosses above the slower line, typically a bullish signal in market analysis. This event is essential as it provides confirmation of the trend reversal signaled by the breakout from the descending trendline.

    “Ladies & gentlemen, XRP had the highly bullish Reversal approval for the Fisher Indicator weekly. Initial resistance instantly broke at $0.4623!” the crypto analyst remarked. 

    However, it’s important to note that the digital asset is still navigating below the Ichimoku Cloud, indicating that resistance still lies ahead. The Ichimoku Cloud is a comprehensive indicator that provides insight into the momentum and future areas of support and resistance. 

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    While the breakout from the descending trendline and the bullish Fisher Transform signal are promising, the price remaining below the Cloud suggests that XRP has yet to clear all hurdles and establish a stronger bullish presence.

    Additionally, the chart also details several key Fibonacci levels that are critical for understanding the next potential resistance and support zones. After breaking the initial resistance at $0.4623, XRP is currently testing the interim Fibonacci level at $0.5286. Dark Defender emphasizes the significance of the price closing above this level to sustain the bullish momentum: “Our interim Fibonacci Level, $0.5286, is being tested. It would be great to close this week’s candle above $0.53.”

    Notably, the XRP price didn’t manage to close the week above this price. Despite that, XRP is currently continuing the upward trend, trading above $0.53 today. The next resistance point to level is at $0.6044. Surpassing this level could lead to the creation of multiple “God Candles,” suggesting a rapid and sustained increase in price.

    Dark Defender remarked, “Next week, we will test the secondary mid-level resistance of $0.6044. It’s crucial not to underestimate the master fundamental level for XRP, which is $0.6649. Above it, we can expect multiple God Candles, which will open the path to Heaven’s Stairway.”

    At press time, XRP traded at $0.53494.

    XRP price
    XRP reclaims the 200-day EMA, 1-week chart | Source: XRPUSD on TradingView.com

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

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    Jake Simmons

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  • XRP Set For Massive Rally: Analyst Points To Ultra Rare Signal

    XRP Set For Massive Rally: Analyst Points To Ultra Rare Signal

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    The latest chart analysis by crypto analyst @Cryptobilbuwoo0, published via X, offers a compelling narrative for XRP’s potential upward trajectory when juxtaposed against the total cryptocurrency market capitalization. The analyst emphasizes key technical indicators and historical patterns, suggesting that XRP might be on the brink of a significant bullish phase.

    XRP Price Poised To “Bounce”

    The XRP/Total chart primarily illustrates a descending trajectory that began forming from its early 2018 peak. This overarching downtrend is marked by successive lower highs that articulate a consistent descending trendline.

    Moreover, @Cryptobilbuwoo0 highlights the ‘Bounce Back Line,’ a horizontal support line that has historically acted as a crucial reversal point for the XRP price action. The chart shows several instances where the price of XRP, upon reaching this line, has rebounded dramatically.

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    The last instance of XRP interacting with the “Bounce Back Line” was on December 28, 2020. Following this touchpoint, the price soared over 1,100%, climbing from $0.18 to $2. Earlier, on February 27, 2017, XRP escalated from just under $0.02 to $3.35 within 10 months. Currently, XRP is once again nearing the “Bounce Back Line.” Given the historic outcomes following support from this level, the analyst predicts another significant rally may be on the horizon.

    XRP price analysis | Source: X @Cryptobilbuwoo0

    The chart analysis further deepens with a nuanced look at the Relative Strength Index (RSI) and the Wavetrend Indicator (WT Krypt), which are pivotal to understanding the market’s momentum and potential reversals. The 14-day RSI is currently nearing 31, approaching the oversold territory which historically signals a buying opportunity or a trend reversal. This is evident in the past markings on the chart, where similar RSI levels have coincided with the “Bounce Back Line” and substantial upward price movements.

    The Wavetrend Indicator, used for spotting the start and end of cycles in the cryptocurrency’s price, has shown several bullish signs. Bullish divergences have been a critical focus, occurring when the price of XRP makes new lows while the indicator does not follow suit, suggesting a decrease in downward momentum. Moreover, the recent crossover of the Wavetrend lines (red crossing over blue) is typically interpreted as a bullish entry signal, indicating potential upward price movement.

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    In addition to the primary indicators, the analyst has annotated the chart with past price actions and highlighted areas and patterns, such as bullish divergences. These annotations serve to emphasize significant trading zones and anticipated trend shifts based on historical data. The marked sections of the chart indicate that each time similar conditions were met, there followed a significant increase in the XRP price, reinforcing the bullish outlook presented in the current analysis.

    @Cryptobilbuwoo0’s analysis suggests that XRP, currently positioned at a historically significant price level and supported by bullish indicator signals, is poised for a potential breakout. This outlook is bolstered by the RSI nearing oversold conditions and the positive signals from the Wavetrend Indicator. If the historical pattern repeats, the crypto asset could see a substantial rally, affirming the analyst’s perspective:

    Looking at the XRP/Total chart, XRP has always risen significantly from the rebound line. Indicators are also calling the bulls. XRP always moves alone like a maverick. XRP’s showtime begins.

    At press time, XRP traded at $0.49.

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

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

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    Jake Simmons

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  • Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds

    Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds

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    Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP’s unimpressive price action, which continues to paint a bearish outlook for the crypto token. 

    Ripple Sells 150 Million Tokens

    On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock, which is set to continue until 2027. As expected, this sale has raised concerns, considering the impact many believe it could have on the market. 

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    Moreover, this sale follows Ripple’s recent unusual transactions, when the crypto firm moved 3 billion XRP tokens ($1.5 billion) across different wallets in the space of 30 minutes. However, crypto analyst Michael Nardolillo explained that those transactions were mainly internal movements and escrow re-lockups.  

    This recent sale of $150 million XRP tokens will again raise the theory of price suppression by Ripple. While it has been revealed that the crypto firm’s XRP sales have no impact on prices on crypto exchanges, it undoubtedly adds to the bearish sentiment that crypto investors already have towards the token. 

    Furthermore, Ripple’s XRP sales lead to a positive supply shock, with more XRP tokens being injected into circulation. Such development tends to have a negative impact on a crypto’s price and could lead to significant price declines. 

    It is also worth mentioning that this sale comes at a time when the market sentiment towards XRP is as bearish as it can be. This is partly thanks to the fact that the crypto token remains one of the worst-performing crypto assets since the year began, with a year-to-date (YTD) loss of over 18%. 

    XRP Will Still Be Great

    Despite XRP’s unimpressive price action, crypto analysts have continued to predict the crypto token will still have its moment when it will experience that price breakout and make a parabolic move to the upside. Crypto analyst Javon Marks recently mentioned that the XRP is about to make a name if it hadn’t already done so. 

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    He made this statement while revealing that a Hidden Bullish Divergence setup had formed on the altcoin’s chart. He claimed that XRP’s price went up by over 63,000% in less than a year the last time this happened. He suggested that such a move could be on the horizon again with XRP at its breaking point. Meanwhile, Crypto analyst CryptoBull also recently predicted that the cryptocurrency could enjoy a 28,900% rally and rise to $154. 

    At the time of writing, XRP is trading at around $0.49, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

    Token price falls amid sell-offs | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low

    Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low

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    Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as $7.5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever. 

    Time For An XRP Price Breakout

    Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to $7.5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle” breakout on the chart, which he stated is “aligning perfectly” with the previous charts and the Fib 0.702 to 0.786 levels. 

    Source: X

    He added that the measured move is projected to be between $1.2 and $1.5 before XRP could take off and climb to $7.5. Egrag further remarked that the “critical breakout point” for XRP is around $0.70 and $0.7’5 and that the crypto token is “poised” to achieve this breakout in the “next couple of weeks.

    Egrag warned that XRP could still experience significant declines before then, stating that a retest of the breakout might be on the cards. However, he is convinced that a “MEGA RUN for XRP is on the horizon.”

    Meanwhile, for the second scenario of how XRP could achieve its impending breakout, Egrag Crypto highlighted an ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is at $0.6799. He noted that XRP is still holding strong “like a boss” on the atlas line, suggesting it shouldn’t be long before it breaks above $0.6799. 

    In the meantime, $0.5777 and $0.5000 are key price levels that XRP holders should monitor. Egrag labels them resistance and support levels for XRP’s upward trend along this atlas line. 

    XRP price 2
    Source: X

    XRP Hits Its Lowest RSI In History

    Egrag revealed in a more recent X post that XRP’s RSI is at its lowest ever. He noted that this assertion was based on the monthly time frame and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRP, stating, “If this isn’t a positive signal, I don’t know what is.”

    XRP price 3
    Source: X

    The chart he shared showed that XRP’s Relative Strength Index is at 38, which is indeed bullish for the crypto token. Low RSI levels are considered a buy signal since they suggest that the coin is oversold and undervalued. Therefore, crypto investors might be looking to accumulate XRP, with these buy orders expected to trigger a move to the upside for the crypto token. 

    At the time of writing, XRP is trading at around $0.52, up almost 1% in the last 24 hours, according to data from CoinMarketCap. 

    XRP price chart from Tradingview.com
    XRP price suffers drawdown | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When

    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. 

    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. 

    XRP at $0.51 | Source: XRPUSDT on Tradingview.com

    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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  • Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39

    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.

    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.

    XRP trending at $0.58 | Source: XRPUSD on Tradingview.com

    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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  • Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent?

    Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent?

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    XRP’s price action for the last three years has been majorly disappointing, with the crypto yet to turn positive for its holders. Notably, XRP’s price action for the past three months has been brutal and needs to catch up when compared to other large cryptos.

    Despite this underwhelming price movement, many analysts haven’t stopped predicting a potential rally for XRP in the coming months. Particularly, attorney Bill Morgan, who is known for his bullish stance on XRP, recently took to social media to share his take on the asset’s lackluster performance, calling it “unnatural.” 

    Pro-XRP Lawyer Calls The Decline ‘Unnatural’

    Morgan’s recent observation on XRP goes along with the wider thought among investors. According to him, XRP’s performance over the past 90 days has been so unnatural, raising the question of how this poor performance came to be. This observation came as a reply to a chart shared by another investor comparing crypto gains. 

    According to the data, XRP is currently on a 17.8% decline in the past 90 days. However, other top cryptocurrencies like Bitcoin, Chainlink, BNB, and Ethereum have performed 30% gains in the same timeframe amidst wider crypto market rallies. The insights made by Morgan have not only shed light on the underperformance of XRP but have also sparked discussions among supporters.

    The general consensus has been of an unnatural price action. The unnatural in this case has mostly been caused by the legal tussle between the SEC and XRP’s payment company, Ripple, which has lingered for the past three years. Although Ripple has made major headways against the SEC in the past year, the recent price action indicates that XRP is yet to garner support from institutional and large investors.

    Ripple currently trading at $0.54459 on the daily chart: TradingView.com

    Reversal Into A Rally?

    The XRP community remains optimistic about the digital asset’s future. Many long-term XRP holders, often called “XRP Army” members, believe the lackluster price action is temporary and that XRP will rebound significantly in the coming months. 

    According to Crypto Rover, a crypto YouTuber, XRP is on the verge of breaking out of a triangular price action to the upside. His XRP/USD price chart indicates the formation of lower highs and higher lows for the past three years and is now at a squeeze. Morgan also relayed optimism to the analysis, stating “Now or never!”

    At the time of writing, XRP is trading at $0.54, down by 3.50% in the past seven days. Crypto analyst Dark Defender forecasted a $0.66 price point and beyond in the coming months. Talks continue to linger around the potential of a spot XRP ETF.

    Featured image from Adobe Stock, chart from TradingView

    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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  • XRP Price Alert: Breakout Could Confirm Today

    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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  • XRP Records Highest Single Day Whale Accumulation Since Ripple’s Partial Victory Over SEC

    XRP Records Highest Single Day Whale Accumulation Since Ripple’s Partial Victory Over SEC

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    Market intelligence platform Santiment recently revealed how XRP whales look to be going all in on XRP following significant purchases of the crypto token. Notably, these buys are said to be the most since Ripple’s partial victory over the Securities and Exchange Commission (SEC). 

    XRP Records 217 Whale Transactions

    Santiment stated in an X (formerly Twitter) post the XRP Ledger processed 217 ‘$1 million whale transactions’ on the network on January 31. This happens to be the most transactions of such magnitude recorded in a single day since Judge Analisa Torres ruled that XRP wasn’t a security in itself last year July. 

    Just like Santiment noted, such an occurrence has the potential to impact XRP’s price positively. XRP had risen to as high as $1 on the back of Judge Torres’ ruling as it strengthened the conviction of the altcoin’s holders, who then decided to double down on their investments. If such a similar scenario plays out again, then XRP is expected to experience price surges soon enough. 

    The market intelligence platform also added that some key signals indicated that XRP was “one of the better candidates for a bounce, assuming Bitcoin Bitcoin can stabilize the rest of the week.” The altcoin had dropped below the crucial support level of $0.5 following Bitcoin’s recent decline. However, it is back above that level as the market shows signs of recovery. 

    Meanwhile, despite XRP’s relatively stagnant price action, these whales do not seem to be worried. Santiment revealed that wallets holding at least 10 million XRP tokens combined to hold 67.2% of the available supply, the most since December 31, 2022. 

    Token price at $0.5 | Source: XRPUSDT on Tradingview.com

    Binance Freezes $4.2 Million Worth Of Tokens

    Binance CEO Richard Teng stated in an X post that the crypto exchange had managed to freeze $4.2 million worth of XRP, which was part of the proceeds from the recent XRP exploit. NewsBTC had reported how there was a breach on the personal XRP accounts of Ripple’s co-founder Chris Larsen, which led to the theft of more than 213 million tokens. 

    Teng also mentioned that the Binance team will help retrieve the remaining funds in any way they can. He added that they were closely monitoring the majority of the funds in the exploiter’s external wallets just in case they tried depositing these tokens to Binance. 

    The exploiter is reported to have laundered some of these funds through crypto exchanges like MEXC, Gate, Kraken, OKX, and HitBTC. 

    Featured image from Analytics Insight, 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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  • Exploit Causes XRP Price Crash: Ripple Co-founder Discloses Losses Of $113 Million

    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.

    XRP price
    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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  • XRP Predicted To Rally 250% After Final Price Dip: Crypto Analyst

    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
    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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  • XRP Price Will See 1,000% Rally When ‘Black Cloud’ Dissolves, What This Means

    XRP Price Will See 1,000% Rally When ‘Black Cloud’ Dissolves, What This Means

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    The host of the ‘Discover Crypto’ YouTube channel has boldly claimed that the XRP price could surge by 1000% from its current price range. He highlighted the Securities and Exchange Commission’s (SEC) case against Ripple as one of the factors that could spark this price surge. 

    XRP Price Could Do A 10X When Ripple And SEC Settle

    In a video posted on the YouTube channel, the analyst suggested that XRP would rise significantly once Ripple and the SEC finally settled. He described this long-running legal battle between both parties as a  “black cloud” that has continued to cause uncertainty in the XRP market.

    He further noted how investors strongly dislike uncertainty, which could explain why they have continued to trade with caution rather than doubling down on their XRP investments. Meanwhile, the ‘Discover Crypto’ host believes that irrespective of how much Ripple ends up being fined, a settlement will no doubt be ‘positive news’ and the trigger for the price surge. 

    The crypto analyst went on to break down four other reasons why he believes that XRP’s price could surge by 1000%. First, he stated that a Ripple Initial Public Offering (IPO) could also trigger a significant rally for XRP. This price pump, he claims, will be facilitated by market makers and whales who would want to create a positive sentiment around the IPO launch.

    To back up this point, he alleged that the biggest move for Bitcoin in 2021 wasn’t as a result of Bitcoin Halving or any market cycle but because of the Coinbase IPO. These same market makers are said to have pumped the flagship crypto’s price then. 

    Token price at $0.53 | Source: XRPUSD on Tradingview.com

    Other Factors That Could Spark XRP’s Parabolic Move

    The crypto analyst outlined crypto legislation as the third reason why XRP could rise exponentially from its current price levels. While admitting that the entire crypto market will benefit from this, he expects XRP to be one of the tokens that enjoy the most gains from this development. 

    Institutional adoption is also predicted to be another catalyst in XRP’s parabolic move. The ‘Discover Crypto’ host noted how the Spot Bitcoin ETFs have opened the doors to mainstream adoption. As such, he expects that more entities will want to add crypto tokens like XRP to their portfolio alongside their Bitcoin exposure.

    The fifth factor that could spark the 1000% rally for XRP is the Bitcoin Halving. The crypto analyst predicts that all crypto tokens, including XRP, are going to pump post-halving. As such, he believes that buying XRP at $0.50 now is definitely a steal. 

    Featured image from Crypto News, 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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  • Crypto Analyst Explains How XRP Could See Massive 4500% Jump To $27

    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. 

    Source: X

    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. 

    XRP price chart from Tradingview.com (Crypto analyst)

    Token price rebounds after drop | Source: XRPUSD on Tradingview.com

    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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  • Key Requirements For Spot XRP ETF Approval Revealed Amidst 4500% Price Surge Target

    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.

    XRP ETF
    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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  • Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move

    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.”

    Token price falls to $0.5 | Source: XRPUSD on Tradingview.com

    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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