Is ripple Heading for a New All-Time High? XRP Price Predictions
TL;DR
- XRP lags behind other cryptocurrencies in terms of earnings, but positive technical indicators and Ripple v. SEC case.
- Analysts predict the asset will reach between $2.90 and $16.10, with some predicting even higher prices if certain conditions are met.
The cryptocurrency market is glowing green today (July 1), with Bitcoin (BTC), Ethereum (ETH), solana (SOL) and more making significant gains. Ripple’s XRP is lagging behind the pack, posting a modest 1.1% price increase on a daily scale and is currently trading at around $0.47 (according to CoinGecko data).
XRP Price, Source: CoinGecko
However, some analysts, He believes that the asset is yet to experience a bull run, and predicts a rally to a new all-time high. EGRAG CRYPTO – an X-user who frequently touches on the subject – registered XRP’s monthly timeframe candlestick formation appeared to close above a major resistance level known as Fibonacci 0.236. The trader described the move as a “natural consolidation” that awaits a bounce to Fibonacci 1.618 ($6.40).
Brett Hill and Armando Pantoja were also on the rise. Old suggested He said XRP’s next target could be between $2.90 and $16.10, the latter presented Three key factors that could trigger a price rally towards the $5 milestone.
One of them contains a decision Ripple v. SEC’s legal battleIt’s been going on for over three years. The case is currently in the trial phase, and the company appears to have the upper hand after securing three crucial (but partial) court victories through 2023.
Every victory triggered a cost The bullish outlook for XRP continues, with many industry participants predicting that the asset will rally once again if Ripple wins outright. For those interested in learning more about the lawsuit and its potential impact on the token’s valuation, feel free to check out our exclusive video below:
Previous Predictions
Last month EGRAG CRYPTO guess A recent XRP rally based on the low Relative Strength Index (RSI). Technical analysis tool measures the speed and change of price movements and it changes From 0 to 100. A ratio above 70 indicates that the asset may be overbought and heading for a correction. Data demonstrations only this level has been passed three times in the last 30 days, currently on foot Around 56.
JAVON MARKS – Another X user who often speculates on XRP’s movements – was envisioned If the asset reflects its performance in previous years, a price explosion to $20 “or even higher” is possible.
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