Crypto analysts Amonyx and Egrag Crypto have provided a bullish outlook for the XRP price with “something big” on the horizon. Based on their analysis, the long-awaited price breakout for XRP could soon happen. Something Big Is Coming For XRP Price Crypto analyst Amonyx stated in an X post that something big is coming for the XRP price. His accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar run that it enjoyed in the 2017 bull run when its price surged by over 61,000%. Related Reading: Bitcoin Price To $130,000 By January, Here’s The Roadmap The chart showed that XRP consolidated for a year before it broke out and enjoyed that unprecedented rally. In line with this, the analyst highlighted how XRP has been consolidating since then, suggesting another price breakout is imminent. Amonyx has recently been more bullish on the XRP price. Before now, he predicted that the crypto would reach between $50 and $57 at the peak of this bull run. However, his recent prediction offers a more bullish outlook for XRP. Interestingly, he also recently predicted that the crypto could enjoy a “giga pump” to $400. These bullish XRP predictions are believed to be partly because of the recent applications by Bitwise and Canary Capital to offer an XRP ETF. These funds could contribute to a significant rally for XRP since they will attract more institutional investors into the coin’s ecosystem. Therefore, these XRP ETFs will positively impact the XRP price just like the Spot Bitcoin ETFs did for the Bitcoin price. Meanwhile, in the short term, Amonyx also expects that the XRP price could enjoy a significant rally. In a recent X post, he shared an XRP/Bitcoin chart and told XRP holders that a God candle was coming soon. XRP’s Breakout Target To Keep An Eye On Crypto analyst Egrag Crypto highlighted $0.61 and $0.62 as the breakout targets to keep an eye on. He noted that the breakout point is getting lower and added that the XRP has a maximum of 70 days left before it reaches the final pinnacle of the breakout point. Related Reading: Crypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level Egrag Crypto further remarked that he is convinced that the price breakout could happen sooner than expected, within the next 15 to 30 days. According to him, the pressure is building and won’t stay contained for much longer. Indeed, XRP’s consolidation dates way back to the 2021 bull run when it failed to reach a new all-time high (ATH). The $0.60 price level has also proven to be strong resistance for the coin, as it has retested and failed to break above it multiple times since Judge Analisa Torres delivered her final judgment in the Ripple SEC lawsuit in August. At the time of writing, the XRP price is trading at around $0.55, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The ongoing legal battle between crypto payments company, Ripple ,and the United States Securities and Exchange Commission (SEC) is taking another significant step forward this week. Both parties are preparing to take the next move forward with their appeal process. This development could have far-reaching implications on not just Ripple, but the XRP price and […]
The reason behind the stagnant XRP price growth has remained a mystery, with many crypto analysts pointing to legal disputes and market volatility as key factors holding back its momentum. However, even during favorable market conditions and after gaining legal clarity following multiple Ripple Court wins against the United States Securities and Exchange Commission (SEC), XRP has still failed to experience a notable upward surge. As a result, investors have questioned the cryptocurrency’s sluggish price growth, prompting a crypto analyst to provide a detailed explanation of why XRP remains at a low price, barely showing signs of a feasible rally. Why XRP Price Struggles To Gain Momentum On October 13, a crypto analyst and researcher known as ‘Crypto Tank’ took to X (formerly Twitter) to discuss the reasons why the XRP price is not moving. In the lengthy X post, the analyst explained that the XRP price was determined by dividing the volume of XRP actively being used on the ledger by its circulating supply. Related Reading: Over $182 Million Wiped Out As Bitcoin Price Breaks $64,000 And Sends Bears To The Gallows According to Crypto Tank, XRP investors have this misconception that the total XRP in circulation is about 56 billion. However, this figure is misleading as a large portion of XRP’s supply is held in various private wallets by large-scale holders, also called “Whales.” This means that most of XRP’s supply is not actively being used in the market, but is held firmly in these wallets. The analyst revealed that what truly matters for XRP’s price movements is how much of the circulating supply is used to actively engage in transactions on the XRP ledger. Currently, only about 20% of the total XRP supply is actively engaged on the XRP Ledger daily. For XRP to be used to execute transactions, it often needs to be paired with Automated Market Makers (AMMs), which provide liquidity during trades. These liquidity pools are important for XRP to conduct global settlements, as only ample liquidity can facilitate these enormous transactions which extend to trillions of dollars. This need for substantial liquidity in the XRP Ledger is what limits its price movements. Following the analyst’s report, it is clear that XRP’s price struggles are more complicated than mere market volatility. Its ongoing legal dispute with the SEC also adds uncertainty to any potential price increases in the future. Analyst Unveils XRP Road Map To $500 While discussing the reasons why XRP’s price has remained stagnant, Crypto Tank also unveiled a road map for how XRP could reach $500. The analyst explains that if XRP could become widely adopted for global settlements like SWIFT, it could potentially reach this price target. Related Reading: Shiba Inu Price Flashes Historical Bull Flag, Here’s What Happened Last Time He disclosed that an increase in market capitalization or retail investors does not matter, as XRP would only surge to the projected $500 price if it can handle large institutional transactions through deep liquidity pools and AMMs. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Amonyx has made an ultra-bullish price prediction for the XRP price. Based on his analysis, the crypto could soon enjoy a massive pump that will lead to a price gain of almost 80,000%. XRP Price To Enjoy “Giga Pump” To $400 Amonyx stated in an X post that an XRP giga pump is incoming. Based on his accompanying chart, the XRP price could enjoy a massive rally to reach as high as $400. Such a price rally will represent a price gain of almost 80,000% for the crypto. The analyst made this prediction using the Elliot Wave theory. Related Reading: Expert Dissects $60 Forecast For XRP Price, Institutional Investors Are The Key The projected rise to $400 represents a wave 5 impulsive move, with the analyst’s chart showing that this move to the upside was already in play. However, the accompanying chart failed to show when precisely this parabolic move would occur, although it looks like a price target for the peak of this market cycle. Interestingly, about a month ago, Amonyx predicted that the XRP price could rise to between $50 and $57 this cycle, which looked to be his peak target for this bull run. As such, his recent prediction suggests that the analyst has become more bullish on XRP’s trajectory. His ultra-bullish outlook for XRP could be related to the recent filings by Bitwise and Canary Capital to offer XRP ETFs. Approval of these funds could attract more institutional investors into the XRP ecosystem, driving more inflows into the crypto and leading to a potential price rally. Amonyx also seems confident that the SEC and Ripple will settle their ongoing legal battle. Therefore, the lawsuit will no longer act as an obstacle to XRP’s potential growth. A settlement could also signal the potential approval of the pending applications for an XRP ETF since that will confirm that the Commission no longer believes that the crypto is a security. XRP To Break All-Time High Amid the ultra-bullish prediction, crypto analyst Jaydee has given a more conservative price target. The analyst predicted that the XRP price would rise to $6.5, marking a new all-time high (ATH) for the crypto. Crypto analyst Egrag Crypto recently stated that XRP would at least rise to $5.89 in the worst-case scenario for the crypto in this bull run. Related Reading: SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next? Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this bull run. Crypto analyst CrediBULL Crypto predicted that the crypto could reach $10 in this market cycle based on his belief that ETH will hit $10,000. The XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defender told market participants there will be an “extraordinary” breakout starting this month. Featured image created with Dall.E, chart from Tradingview.com
XRP has been one of the underperformers in the current crypto market cycle, remaining approximately 86% below its all-time high of $3.84 reached on January 4, 2018. Remarkably, despite significant fluctuations in the meantime, XRP is trading at a price similar to where it was one two years ago in October 2022. Crypto pundit known as CryptoTank (@Tank2033js) shared an explanation on X to clarify why the XRP price isn’t moving as some might anticipate. With 214,000 views, the thread gained a lot of attention. Why Is XRP Price Stagnating? When Will It Change? “I’m getting a lot of comments about XRP price and why it’s not moving,” began CryptoTank. “Let me explain once more how XRP price is determined for the new people to this space and those that still have trouble understanding.” According to his analysis, the price of XRP is calculated by dividing the value or volume transacted on the XRP Ledger (XRPL) by the circulating supply of XRP. However, he emphasizes that the commonly referenced circulating supply figure of approximately 56 billion XRP is misleading. “Just because 56 billion is in circulation, it does not mean that the whole 56 billion is on the ledger for use,” he noted. A significant portion of XRP is held in private wallets, by large holders known as “whales,” or stored on exchanges, and thus not actively participating in daily transactions on the ledger. Related Reading: Analyst Forecasts XRP Bullish Breakout – A 1,000% Opportunity? “What matters for price is how much of that supply is active on the ledger,” he asserts. Estimating that about 20% of the circulating supply is active daily, he suggests that around 10 billion XRP are in use within the ledger’s ecosystem. This active supply is crucial for providing liquidity in Automated Market Maker (AMM) pools, which facilitate transactions by pairing XRP with other tokens or currencies such as RLUSD (Ripple USD). He explains that banks and financial institutions planning to use the XRPL for settlements will operate with their own tokens or central bank digital currencies (CBDCs), pairing them with RLUSD and utilizing the liquidity available in the AMM pools. The XRPL employs an algorithm designed to find the most efficient path for settlements, defaulting to XRP as the primary source unless an alternative offers a better route. “This algorithm uses XRP as the default source of settlement and will only use something else if it’s better than XRP, which most likely won’t be the case,” he elaborates. To illustrate the potential magnitude of value transacted on the ledger, CryptoTank highlighted the daily settlement volumes of several major financial institutions. SWIFT, the global provider of secure financial messaging services, processes approximately $5 trillion in daily settlements. J.P. Morgan Chase, one of the largest banking institutions in the United States, handles around $10 trillion daily. Bank of America processes about $7 to $8 trillion each day, and SBI Holdings in Japan settles approximately $2 trillion daily. “That’s about $25 trillion daily in settlement with just four banks/institutions,” he points out. Moreover, Ripple, the company behind XRP, reportedly has over 1,700 non-disclosure agreements (NDAs) with various banks and financial institutions, suggesting a vast network of potential users for the XRPL. By conservatively assuming that only 10% of the settlement volume from these four institutions moves onto the XRPL, he estimated an on-ledger transaction volume of $2.5 trillion daily. To ensure smooth and frictionless transactions without failures—a critical requirement for banks—the liquidity in the AMM pools would need to be substantial. “These pools have to be about double the $2.5 trillion value to avoid failed transactions and friction within the pools. Banks cannot have failed transactions,” he stressed. This means that the total value or volume on the ledger would need to be approximately $5 trillion to accommodate the settlements efficiently. Related Reading: XRP Could Surge To $60 Overnight Using SWIFT Model, Expert Says Using these figures, he calculates the necessary price of XRP to facilitate this level of daily settlement. “To determine the price XRP needs to be to avoid friction and have deep enough liquidity pools to settle without failure between different currencies or CBDCs, you take the $5 trillion and divide it by the 10 billion of XRP in the pools,” he explains. This calculation yields a required XRP price of $500. “XRP’s price would need to be $500 to facilitate settlement daily,” he emphasizes. “This is a very basic example of what will happen when these banks start using XRP daily for settlement,” he adds. He acknowledged that other factors could further enhance the value on the ledger, such as the tokenization of assets, debt, and real estate. “There are other factors like tokenized assets, tokenized debt, tokenized real estate, etc., that will all add value to the ledger in the future,” he notes. Addressing skeptics who doubt the potential for XRP to reach such high valuations, he states: “For anyone saying XRP will never be a high price, you really don’t understand what XRP is going to be used for or how it works. Retail doesn’t matter, market cap doesn’t matter, charts are nice to look at but don’t matter either.” He argues that traditional metrics used to assess cryptocurrency value are less relevant in the context of XRP’s intended utility for institutional settlements. “You can’t chart how much liquidity or depth of AMM pools will be needed to handle the settlement of those 1,700+ NDAs on a daily basis,” he contends. “Nobody has any clue how high that number will be. XRP must be a high price or it won’t work efficiently to do what it was designed to do, which is handle large transactions fast and cheap.” However, not everyone in the crypto community agrees with his assessment. A user representing chart analysts on X responded to his thread, stating: “Wrong: The chart is the only thing that matters. Buy coins based on chart technical analysis and you do a lot better than buying narratives and hoping for it to pump. That’s why 99% of retail fails. Sad but true.” In response, CryptoTank defended his position, emphasizing the impending shift in the crypto landscape due to institutional adoption. “You clearly have no idea how utility tokens work or what is about to take place globally in this space,” he retorted. “Soon retail speculation will be dwarfed by institutional adoption and usage. 99% of coins will become obsolete. The big money is coming into the game and everything will change.” At press time, XRP traded at $0.542. Featured image created with DALL.E, chart from TradingView.com
Ben Armstrong, widely recognized as BitBoy across social media platforms, has once again attracted attention from members of the crypto community with his firm endorsement of XRP. In a recent post on X, the influential crypto commentator emphasized the significance of investing in XRP at its current price level. BitBoy underscored his belief that potential […]
Ripple has announced a major upgrade to its Ripple Custody service, aiming to deliver bank-grade crypto custody solutions to fintech firms and crypto businesses. The enhancements include integration with compliance tools, expanded hardware security module (HSM) options, support for tokenizing real-world assets on the XRP Ledger (XRPL), pre-configured policy frameworks, and an improved user interface, […]
The crypto ETF market is expanding at an alarming rate, with news of a second XRP Exchange Traded Fund (ETF) filing spreading across the space. Canary Capital, a boutique Sydney investment and corporate advisory firm has just filed an XRP ETF, following Bitwise’s lead. With the new ETF filing, the price of XRP could see a possible change in the future. Canary Capital Files New XRP ETF On Tuesday, October 8, Canary Capital submitted an official S-1 filing for an XRP ETF with the United States Securities and Exchange Commission (SEC). This filing comes just after Bitwise, another top asset management company filed for an ETF on September 30, marking the first ever XRP–based ETF in the crypto market. Related Reading: Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle According to Canary Capital’s new filing, the Trust’s investment goal is to provide direct exposure to the value of XRP, enabling investors to access this cryptocurrency’s market through a brokerage account. Through this method, Canary Capital intends to limit the potential barriers to accessing the market and reduce the risks involved in acquiring and holding XRP. Canary Capital has also stated that it aims to track the performance of XRP in the market, as measured by the Trust’s Pricing Benchmark. This pricing benchmark will utilize a similar methodology to the real-time price of the Chicago Mercantile Exchange (CME) CF Ripple index. While divulging the objectives and risk factors associated with an XRP ETF, Canary Capital failed to disclose the identity of the custodian for its potential XRP ETF. The investment management company also did not provide details on the ticker to be used for its XRP ETF, however, revealed that the Trustee for the investment product would be the Delaware Trust company. Despite the optimism Canary Capital’s new XRP ETF filing has generated in the crypto community, both its application and Bitwise’s still require approval from the SEC before they can launch in the market. Presently, the likelihood of a swift approval appears low, considering Ripple’s ongoing legal battle with the regulator. Earlier this month, the US SEC submitted a new appeal to challenge the court’s July 2023 ruling that programmatic sales of XRP are not considered securities. XRP Price Falls As Regulatory Uncertainty Clouds Optimism Despite Canary Capital’s new XRP ETF filing, the price of XRP has been on a downward trend, showing no signs of moving out of bearish momentum trends. CoinMarketCap’s data shows that XRP has fallen by 0.72% in the last 24 hours and another 0.79% over the past week. Related Reading: Bitcoin Price Fails At MA-200, Is A Crash To $52,000 Coming? The cryptocurrency has been in the red for the past few weeks, only seeing slight gains when market conditions turn significantly favorable. With the new XRP ETF, many would expect the XRP price to rally, as anticipation for the investment product builds in the crypto space. However, XRP is still consolidating around the $0.5 mark, even experiencing a decrease in its 24-hour trading volume. It is clear that XRP’s bullish momentum has been completely overshadowed by regulatory uncertainty and negative sentiment. Despite this, many in the XRP community continue to maintain a positive outlook, expecting the price of XRP to break out to the upside soon. Featured image created with Dall.E, chart from Tradingview.com
On Wednesday, October 2, the United States Securities and Exchange Commission (SEC) took a formal step in extending the XRP lawsuit with Ripple by filing a Notice of Appeal of Judge Torres’s ruling. This move came on the heels of the final judgment by the US District Court, Southern District of New York on August […]
Bitwise Asset Management has officially filed for a spot XRP exchange-traded fund (ETF) with Delaware’s Division of Corporations on September 30. The filing encompasses the registration for establishing a Delaware statutory trust, a business-oriented trust recognized under Delaware state law. This strategic move aligns with precedents set by prominent financial entities such as BlackRock and […]
The XRP price has struggled for the last three years, staying down even when Bitcoin and other altcoins rallied to possible new all-time highs. However, even through this, the XRP community has remained steadfast in their belief that the altcoin’s price will reach new peaks. Forecasts have ranged from reaching $1 to as high as $1,000. The latter has been hotly debated among crypto investors. However, one crypto researcher believes that the XRP price will be able to touch $1,000 eventually, giving reasons for why this could happen. Dominating Global Banking Systems The selling point of the XRP token has always been the fact that it is to be integrated into the world banking systems, allowing for cheaper, faster, and smoother transactions. The expectations for the token’s use in banking were the initial reason behind its meteoric rise, and this has continued to foster belief in its future. Related Reading: Shiba Inu Price Could Jump 200% To $0.00006 In October, Here’s Why Crypto researcher CryptoTank took to X (formerly Twitter), to reiterate the value proposal of this for the XRP Price, alluding to this utility. The researcher points out that SWIFT is already integrating the RippleNet into its systems, and given SWIFT’s volume, it could mean a lot of inflow for the token. They point out that SWIFT currently does around $5-$7 trillion in daily volume, even with high fees of $20-$50 per transaction. However, compared to this, using RippleNet would bring fees down to pennies, allowing the payment platform to save hundreds of billions of dollars yearly. Furthermore, the researcher explains that even if Ripple were to only get 10% of SWITF’s trading volume, it would mean a substantial $500 billion at least passing through RippleNet daily. At this rate, the low XRP price would not be adequate to handle the volume from SWIFT alone. Thus, the researcher believes that the XRP price would rise to be able to compensate for this new volume. “XRP has to be very high to move just 10% of Swifts daily volume,” the researcher said. “When you start adding the other banks in it gets crazy how high XRP will go.” XRP Price To $1,000 Debate The recent debate surrounding the XRP price reaching $1,000 began with the Uphold crypto exchange asking the community what they would do if the XRP price were to hit $1,000. This sparked speculations on whether or not the altcoin can actually reach this price, triggering input from various angles. Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi However, on-chain investigator TruthLabs debunked this possibility, citing how much the market cap would have to grow for it to hit this target. According to the investigator, the XRP market cap would have to reach $100 trillion, whi Featured image created with Dall.E, chart from Tradingview.com ch is 50x the current market cap of the entire crypto market. Featured image created with Dall.E, chart from Tradingview.com
On-chain data shows the XRP whales have participated in a significant amount of buying recently, a potential reason behind the asset’s surge. XRP Whales Have Added 470 Million Tokens To Their Supply Recently As explained by analyst Ali Martinez in a new post on X, the XRP whales have expanded their holdings over the last 10 days. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which keeps track of the total amount of tokens that a given wallet group is carrying right now. Addresses or investors are put into these groups based on their current balance. Wallets with 5 coins, for instance, fall inside the 1 to 10 coins group. In the context of the current topic, the whale entities are the addresses of interest. Related Reading: Bitcoin Breaks $66,000, But Analyst Warns Against Fresh Longs—Here’s Why This group’s range is typically defined as 100 million to 1 billion XRP. At the current exchange rate, the lower end of this range converts to around $63.1 million, while the upper one to $631 million. Generally, the influence of any entity on the network goes up the more holdings that they carry, so the whales, who have quite the humongous balance, would carry some degree of power. As such, the behavior of these investors can be worth keeping an eye on, because even if it may not directly impact the price, it can at least tell us what the sentiment among this cohort is like. Now, here is a chart that shows the trend in the Supply Distribution of the XRP whales over the past several days: As displayed in the above graph, the supply of the XRP whales has registered a notable increase recently. More specifically, these humongous investors have added more than 470 million (almost $300 million) tokens to their wallets during the last ten days or so. From the chart, it’s visible that the bulk of this buying had come while the asset had still been trading around the $0.58 mark, suggesting that the whales believed the level to be offering a profitable window into the coin. The bet of these investors has clearly paid off, as the cryptocurrency’s price has increased from below the $0.59 mark to above the $0.63 level over the past weekend. Related Reading: Shiba Inu Rallies 34%, But Will FOMO End The Rally? While things have been going well for the coin so far, the indicator could be to keep an eye on in the near future, as what this cohort would do next can end up reflecting in the asset’s price once again. Naturally, if the indicator continues to go up, it will be a bullish sign for XRP since it would imply the whales are supportive of a further surge. On the other hand, a decline could be bad news, as it would mean the whales are participating in profit-taking. XRP Price At the time of writing, XRP is trading around $0.631, up 8% over the past week. Featured image from Dall-E, Santiment.net, chart from TradingView.com
The XRP recent price movements have caused a major stir in the crypto market, with the cryptocurrency experiencing a significant price surge and breaking out of crucial resistance levels. Driven by its recent bullish momentum, XRP has succeeded in breaking a key bullish pattern, as a result, a crypto analyst has predicted that it could potentially jump 4X to new highs of $2.6. XRP Price Set Sights On Midterm Target At $2.3 After experiencing slow growth and bearish momentum in the past few weeks, XRP has sparked renewed confidence amongst investors with its latest price surge. Over the last seven days, XRP has skyrocketed by 8.93% and is showing signs of more gains in the future. Related Reading: PEPE Confirms Breakout From Symmetrical Triangle: How Far Can It Go? This bullish outlook is shared by prominent crypto analyst, Captain Faibik, who disclosed in an X (formerly Twitter) post on September 28, that XRP has just broken a unique bullish pattern, indicating a potential for a major price rally. In Faibik’s XRP price chart, a multi-year bullish symmetrical triangle pattern can be seen. This triangle pattern began forming in October 2021 and has extended through to September 2024, with XRP undergoing significant price fluctuations throughout this period. After experiencing its first substantial price surge in weeks, XRP successfully broke out of this bullish triangle pattern. The extent of XRP’s recent price increase is evident in CoinMarketCap’s data, which indicates that the cryptocurrency has jumped by 4.73% in the last 24 hours. This significant price increase suggests that XRP may be aiming to push significantly above its previous consolidation levels of around $0.5. As of writing, XRP is trading at $0.64, underscoring a possible rise in investor interest and demand for the cryptocurrency. By breaking out of this bullish triangle pattern, Faibik believes that XRP could be on track for a massive rally that could push its price by 4X. The analyst has declared that XRP is currently heating up for a massive breakout to mid-term targets at $2.3. XRP Breaks Critical Trendline A crypto and Elliott Wave analyst, identified as ‘XForceGlobal’ on X has highlighted a unique trendline in XRP’s price chart. According to the analyst, XRP has just broken the “multilayer BD trendline,’ and may be heading towards a price increase. Related Reading: Ripple Vs. SEC Battle Far From Over As Regulator Opposes Court’s Decision XForceGlobal has suggested that if XRP can maintain a price above this trendline for a few more weeks, it could witness a price increase between $7 to $10. The analyst has expressed confidence in his bullish forecast, indicating that a surge within this range was inevitable if the right conditions were met. To be more precise, the analyst predicts via a detailed chart that XRP’s price could potentially rise to $8.67, marking a 1,482% increase from its current price of $0.6. Featured image created with Dall.E, chart from Tradingview.com
Pro-XRP attorney Fred Rispoli, founder of HODL Law, continues to assess the likelihood of an SEC appeal as higher than the probability of the agency letting the case conclude without further action. Following the US District Court for the Southern District of New York’s final judgment on August 7, 2024, the SEC now has less […]
The latest weekly digital asset fund flows from CoinShares shed light on the ongoing dynamics among institutional investors when investing in altcoins such as XRP, Solana, and Cardano. Most of the inflow activity went into Bitcoin, but the report also highlights a diverse set of trends among altcoins to show preferences and strategies investors are […]
XRP whales are bucking the trend with noticeable moves amidst a wider backdrop of uninspiring price movements for the cryptocurrency. A recent surge in XRP acquisitions has caught the crypto community’s attention, as large-scale investors acquired $228 million worth of the digital asset in a few days. Interestingly, this noticeable spike in buying comes on the heels of the launch of the Grayscale XRP Trust and an optimistic price prediction that sees XRP potentially hitting $5 in the next six to ten months. Whale Accumulation Increases Amidst Bullish Predictions This exciting movement by XRP whales was revealed through the crypto’s supply distribution on the social media platform X by Ali Martinez. According to the Santiment chart shared by the crypto analyst, wallets holding 10 million to 100 million XRP tokens recently pushed their total balance to a September peak of 7.17 billion XRP after adding about $288 million worth of XRP tokens in ten days. Related Reading: Grayscale XRP Trust Surges 11.44% One Week After Launch, Here’s The Catalyst Based on the average price of the altcoin during this period, this equates to the acquisition of approximately 390 million tokens by this group of large holders, representing about 6.9% of the total circulating supply moving into the hands of a few key players. Although the total balance of the whales had dropped to about 7.11 billion XRP at the time of Martinez’s post, recent developments point to continued accumulation in the coming days. One of these developments is the recent launch of the Grayscale XRP Trust, which seems to be already attracting institutional investors to the token. However, despite this uptick in whale activity, XRP has not mirrored the price jumps in other major cryptocurrencies following a favorable U.S. Federal Reserve decision. The Federal Reserve’s 0.5% interest rate cut has fueled a broader inflow into the cryptocurrency market, propelling assets like Bitcoin and Ethereum to notable gains. In contrast, the price has struggled to break above the $0.60 mark, even with heightened whale activity. Crypto analyst Ash Crypto predicted that the altcoin could reach $5 in the next six to ten months. This forecast aligns with a wider backdrop of optimism within the crypto space, with multiple assets experiencing upward momentum as the effects of the Federal Reserve’s policy changes continue to ripple through markets. Related Reading: Dogecoin Open interest Remains Muted Below $500 Million, What’s Going On? XRP $5 Prediction According to a recent outlook by Ash Crypto, XRP is on target to perform a 300% to 740% increase in the current market cycle. Such a rally puts the altcoin at a price target between $3 and $5. Notably, the crypto analyst’s outlook isn’t based on a technical analysis but on fundamentals and a predicted rally by the general crypto market. As such, Ash Crypto’s outlook also forecasts Bitcoin trading between $150,000 and $250,000 and Ethereum trading between $10,000 and $15,000 in the next six to ten months. At the time of writing, XRP is trading at $0.5828. Featured image created with Dall.E, chart from Tradingview.com
A recent buzz on the X (formerly Twitter) social media platform has sparked speculation that the XRP price could hit $1,000. However, a crypto pundit has slammed these overly inflated and seemingly unrealistic predictions, pointing to market capitalization and the coin’s current fundamentals as clear obstacles to such a price surge. Analyst Criticizes $1,000 XRP […]
The XRP price has experienced a notable surge in recent days amidst the wider backdrop of the crypto industry. At the time of writing, many cryptocurrencies are starting to reverse their seven-day gains due to Bitcoin’s failure to break above $60,000 on Monday. However, XRP continues to stand firm, registering a 2.23% gain in the past 24 hours. This positive price movement has sparked discussions within the crypto community about the potential for a significant breakthrough. Analyst Identifies $0.75 As A Crucial Target EGRAG CRYPTO’s highlight of the $0.75 price mark for XRP is based on an XRP/USD price chart on the weekly candlestick timeframe, which he shared on social media platform X. Interestingly, the latest highlight comes as an update to his XRP analysis from January 2024. This analysis focuses on XRP’s price structural formation, sentiment status, MACRO range, and psychological zone, all in critical price zones. The most notable are the MACRO range, which starts at $0.71, and the psychological zone at $0.932. Related Reading: Dogecoin At $0.1 Is A ‘Gift’, Falling Wedge Breaking Bullish To Send Price To $0.2 According to crypto analyst EGRAG Crypto, the key resistance level for XRP is $0.75, which could make or break its journey to $1. As EGRAG noted, all these levels can be shattered with just one strong daily candle, with emphasis on $0.75. For XRP, the $0.75 mark is within the MACRO range. Interestingly, XRP is yet to break above $0.75 this year, with its highest point so far being $0.718. Should the cryptocurrency manage to close above this level on a weekly timeframe, it could pave the way for a more substantial price rally. Will The XRP Price Sustain A Rally To $1? At the time of writing, the XRP price is trading at $0.5851 and is still on 8.4% gains in seven days. Based on the recent update, EGRAG noted that the move towards $1 is still in play, as XRP is poised for a massive breakout. Although EGRAG only noted the $0.75 price as the most crucial for a breakthrough, there exist other resistance levels that serve as forerunners. Looking at the XRP price chart, XRP has been trading below $0.62 since March. Interestingly, the cryptocurrency has retested this price level at least six times since then and has failed to break above. Related Reading: Bitcoin Accumulation In Full Swing As $1.3 Billion Exits Exchanges, $75,000 Next? From a technical perspective, $0.62 has emerged as a pivotal price point, acting as a short-term hurdle that XRP bulls must conquer before setting their sights on the more significant $0.75 resistance. A clear break above these levels would signal increasing buyer strength and potentially open the door for a campaign to $1. From a fundamental point of view, the XRP price is starting to campaign to the $1 mark in light of recent events in the XRP ecosystem. One such event is Grayscale’s recent unveiling of the first XRP trust in the US. This move has prompted speculation that an XRP ETF will hit the market soon. Another noteworthy development is the relisting of XRP on the European version of Robinhood. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst is mega bullish on the future outlook of the XRP price, predicting a massive price surge to $40 for cryptocurrency. Despite XRP’s stagnant price growth over the years, this crypto analyst remains confident in the cryptocurrency’s short-term and long-term prospects. XRP Surge Incoming, Don’t Panic Sell XRP, the native token of the XRP Ledger (XRPL) is currently showing incredibly bullish signals according to ‘Steph Is Crypto,’ a market expert on X (formerly Twitter). Sharing a video discussing his analysis of the XRP chart, Steph Is Crypto disclosed that cryptocurrency is gearing up for a substantial breakout in the immediate short term. Related Reading: Analyst Says Bitcoin Is In A ‘Healthier’ Place Now, Here’s Why The analyst disclosed that XRP is currently shaping a “larger inverted head and shoulders” technical pattern. As a result, he predicted that a breakout would be confirmed in XRP when a daily candle was seen close to the neckline at the $0.65 level. Once XRP closes above this crucial price level, the cryptocurrency could witness a price increase to $1.11, representing a 106% surge from its current value. Steph Is Crypto further revealed that on the monthly time frame, XRP’s price is getting closer to the apex of its distinctive symmetrical triangle pattern. A symmetrical triangle is a neutral chart formation consisting of two converging trend lines that suggest a potential price breakthrough after a period of sideways trading. Based on XRP’s triangle chart pattern, the analyst believes that the cryptocurrency could experience a massive price surge to $40 in the next few weeks. Considering the ambitious nature of this price forecast, Steph Is Crypto has warned investors to take it with a grain of salt, noting the market’s unpredictable nature. However, should XRP break above the downward-sloping resistance line on its symmetrical triangle pattern, the cryptocurrency could see a rapid move to the upside. A jump to $40 would mean that the XRP will require a 75.5% rally from its present price of $0.53. Looking at the Fear and Greed index of the broader crypto market, the majority of investors are in a fearful state due to the recent market decline and volatility. However, Steph In Crypto has urged XRP investors to stay bullish, emphasizing that now is the worst time to panic sell their holdings. He also revealed that XRP is witnessing a significant build-up of liquidity from short positions. As a result, he recommends that investors keep an eye out on the cryptocurrency’s liquidity margin, predicting a short squeeze or a move upwards soon. Related Reading: Bitcoin Recovery Path To $60,000: Analyst Reveals Why $55,881 Is Important Update On XRP Price Analysis Despite XRP’s bullish forecast from analysts and its newfound legal clarity, the cryptocurrency continues to experience sluggish growth. CoinMarketCap’s data has shown that XRP is still consolidating around the $0.5 price level, showing only modest gains even during favorable market conditions. In the last 24 hours, the price of the cryptocurrency has jumped by 1.06%, however in the previous week it also fell by 1.90%. Featured image created with Dall.E, chart from Tradingview.com
Input | Output, the research and engineering entity behind Cardano, along with Hedera, have been named the final founding members of the Decentralized Recovery (DeRec) Alliance, a new coalition aimed at fostering interoperability and enhanced security across the crypto industry. The alliance, established by leaders within the Hedera and Algorand ecosystems and formalized in January […]
Fred Rispoli, a pro-XRP lawyer and the founder of HODL Law, has adjusted the likelihood of an SEC appeal in the case against Ripple to 60%. This comes after a new legal development where Ripple and the SEC agreed to secure 111% of a monetary judgment in an escrow, a move suggesting an anticipation of […]
Crypto analyst Dark Defender has predicted that the XRP price could rise to $8 and explained what could spark such a parabolic rally for the crypto. As part of his bullish prediction, the crypto analyst also revealed what could lead to XRP rising to $18. XRP Price To Rise To $8 If Repeat Of 2017 Bull Run Occurs Dark Defender predicted in an X (formerly Twitter) post that XRP would rise to $8 if a repeat of the 2017 bull run were to occur. Back then, XRP recorded a price rally of 61,000% in 280 days to its current all-time high (ATH) of $3.84. Related Reading: Major Dogecoin Indicator Flashes Bullish, Is It Time To Buy? The crypto analyst seemed confident about this 2017 price surge happening again, stating that the XRP community is having a “deja vu of 2017 by standing weeks in front of the XRP bull run.” Dark Defender added that if a similar run is in place, $18.22, the Fibonacci level of 361.80%, is expected to be the upper target level of XRP’s Wave 3 impulsive move. From the accompanying chart, this projected move to $8 and possibly $18 is expected to occur sometime between October and early 2025. The crypto analyst also provided an analysis of XRP’s current price action and highlighted critical support levels XRP needs to hold above if it is to rise to this unprecedented height. Firstly, he noted that the crypto has been consolidating between $0.3917 and $0.6649. Meanwhile, in the weekly time frame, XRP’s relative strength index (RSI) dips have formed a parallel with price dips. At the same time, the weekly RSI Golden Cross is said to be in place. Dark Defender again highlighted the importance of the $0.6649 price level. He claimed that this level, above the weekly Ichimoku clouds, is a “crucial marker” that must be in place before XRP makes its parabolic run. The analyst also noted that $0.5286 and $0.4623 are critical support levels, which XRP holders should keep an eye on. XRP Could Rally By 5,000% And Rise To $27 Crypto analyst Egrag Crypto has also offered a more bullish price prediction for XRP, suggesting that the crypto could enjoy a 5,000% price gain and rise to $27. As a more conservative price prediction, he remarked that XRP could enjoy a 2,400% price gain and climb to $17. He made these predictions based on the Bullish Hammer Candle Stick formations, which he noted have historically produced massive price gains for XRP. Related Reading: Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News This isn’t the first time Egrag has predicted that XRP could rise to as high as $27 in this bull run. In November last year, he mentioned that this price level was a “plausible” target, especially if the crypto repeats its 2017 bull rally. At the time of writing, XRP is trading at around $0.55, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The XRP price has dropped to $0.55 as the crypto token continues to struggle to break above the $0.60 resistance level. This recent drop is due to several factors, including Ripple’s recent token unlocks. Ripple’s Unlocks Causes Price To Drop According to the on-chain analytics platform Whale Alert, Ripple unlocked 1 billion XRP tokens ($559 million) from its escrow wallet on September 1. This formed part of the token unlocks, which the crypto firm is known to carry out monthly. These token unlocks were carried out in three transactions, with 500 million XRP, 200 million XRP, and 300 million XRP unlocked from the escrow wallet in these three transactions. Related Reading: Dogecoin Eyes Massive Bull Surge As Metrics Turn Green This sparked a bearish sentiment for the XRP price, causing it to drop. Ripple’s XRP unlocks always create a supply shock, which causes XRP investors to panic and sell off their holdings in fear that the crypto firm may be looking to offload some or all of the tokens that it has unlocked from escrow. This panic among XRP investors comes despite reports that Ripple’s XRP sales do not impact the crypto’s price on exchanges, as they are likely done over the counter. Meanwhile, Ripple once again received criticism from some members of the XRP community following the recent token unlocks, with one of them calling the crypto firm a “scam.” Another reason the XRP price plunged to $0.55 is the current bearish sentiment in the broader crypto market. Bitcoin (BTC) dropped below $58,000 on September 1, thereby sparking a downtrend for other crypto tokens. The flagship crypto’s price action has remained indecisive, weighing on the fate of other tokens. The XRP price is undoubtedly at risk of dropping lower if Bitcoin fails to establish a bullish trend soon enough and rises above $60,000. Some Positives For The XRP Price Despite the panic caused by Ripple’s XRP unlocks, it is worth mentioning that the crypto firm locked 800 million XRP ($442 million) tokens back in escrow. This is a bullish development for the XRP price as it will help allay the fears of XRP investors who believed that Ripple was looking to sell the 1 billion XRP tokens that were earlier unlocked. Related Reading: The Curse Of September: Is Another Massive Bitcoin Sell-Off Coming? Another positive for XRP and its holders is that the likelihood of the US Securities and Exchange Commission (SEC) appealing its case against Ripple is dropping as the 60-day window for the Commission to do so draws closer. If the SEC eventually chooses not to appeal, that will provide some bullish momentum for the XRP price, considering how much impact the lawsuit has had on the crypto so far. At the time of writing, XRP is trading at around $0.549, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
In a series of pointed criticisms leveled against the US Securities and Exchange Commission (SEC), pro-XRP lawyer Bill Morgan has highlighted what he views as repeated judicial victory against the SEC’s approach to crypto regulation by enforcement. His remarks draw on several recent cases where federal judges have questioned the SEC’s stance that digital tokens […]
Pro-XRP lawyer Bill Morgan has updated his assessment for the likelihood of a SEC appeal in the Ripple case. His reassessment follows closely on the heels of the ruling in the SEC’s case against Kraken, where US District Judge William H. Orrick III made a decision that might have significant implications for the SEC’s ongoing […]
Crypto pundit and YouTube influencer Levi Rietveld has projected a bold price target of $10,000 for XRP with his 117,000 followers. His prediction is backed by major developments within Ripple’s adoption and integration into Central Bank Digital Currencies (CBDCs). Notably, the prediction is influenced by James Wallis, Vice President of CBDCs at Ripple, who has been vocal about Ripple’s ongoing global projects and pilots. In a video that gained significant attention on social media, Levi outlined the potential trajectory for XRP, emphasizing its use in extensive pilot projects and private ledgers across multiple continents—excluding Antarctica. According to Levi, these initiatives could catapult the XRP price to “skyrocket past $10,000 per coin if it all falls into place.” Is $10,000 Per XRP Possible? Levi is referencing interviews with Wallis where he details Ripple’s approach for partnerships with central banks worldwide. He explains that Ripple has been developing private versions of the XRP Ledger (XRPL) tailored to the specific needs of central banks that prioritize privacy and security, leveraging the robust, open-source technology of the public XRPL. Related Reading: XRP Set To Explode? Top Analyst Predicts $33 Rally This strategy allows central banks to utilize a blockchain platform without exposing sensitive transaction data. “The XRP Ledger technology is proven; it has been processing billions of transactions,” Wallis stated, underscoring the reliability and scalability of the technology. Wallis’s unveiled a strategic pivot towards creating a hybrid blockchain system that combines the transparency and efficiency of public blockchains with the privacy controls essential for central bank operations. This bespoke approach has reportedly gained traction, with Ripple working on more than ten active projects across various continents, as Bitcoinist reported. Levi’s enthusiasm for XRP’s potential price explosion is further fueled by recent regulatory developments. He emphasizes significant victories for Ripple against the US Securities and Exchange Commission (SEC). “Our recent wins from the SEC prove that well these institutions are going to start being able to use the XRPL how they see fit,” Levi commented. Related Reading: Crypto Analyst Predicts 42,263% Breakout For XRP Price To $280, Here’s The Roadmap The pundit linked these regulatory advancements directly to potential massive adoption, implying that as legal barriers diminish, financial institutions could integrate XRPL more broadly and deeply into their operational frameworks. This adoption would enhance transaction efficiencies and reduce costs, making XRP more indispensable as a bridging currency in international trade and finance. The anticipation of XRP’s integration into mainstream financial operations has stirred considerable excitement among the XRP army. The potential application across CBDC projects could have a substantial impact on the token’s price. An extensive adoption could significantly increase demand for XRP, driving up its price. Levi’s projection of XRP reaching $10,000 is predicated on the convergence of technological adoption and regulatory acceptance, which could “skyrocket” its value. However, it is important to note that even in the community, the price target of $10,000 is more than controversial. To reach this price, XRP would have to rise by a whopping 1,700,000%. At press time, XRP traded at $0.50. Featured image created with DALL.E, chart from TradingView.com
The XRP price, despite struggling over the last few years due to the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), continues to enjoy a lot of support from the community. This has materialized in the form of countless bullish predictions that the altcoin will rally and regain its lost glory. […]
The XRP price is trading around the psychological barrier of $0.60 after breaking through earlier in the week. Notably, XRP has exhibited interesting price action amidst wider market uncertainty, although many cryptocurrencies are starting to turn positive. While some market participants are still bearish on XRP, others are looking out for a very bullish trajectory. A crypto analyst has revealed an XRP technical analysis that many bullish proponents can resonate with. According to the analyst, XRP is set to surge to $32 in the coming months. XRP Price Surge Of Epic Proportions Despite the broader volatility, many cryptocurrencies have begun to show signs of recovery, with XRP also a focal point of interest. The XRP analysis in question was posted through the social media platform X by Tylie Eric. This analysis was accompanied by an XRP / U.S. Dollar price chart on the 1D candlestick timeframe. As such, the price chart shows XRP’s price action as far back as late 2020. Central to the analysis is the depiction of a symmetrical triangle pattern, which has been gradually forming since early 2021, when XRP reached a peak trading value of $1.96. Related Reading: Historical Data Suggests Bitcoin Could Rise 1,000%, Here’s Why Over the years, XRP has displayed a series of lower highs and higher lows, which have progressively tightened into a narrower trading range. This pattern is often regarded by technical analysts as a sign of a potential breakout, where the price could move significantly in either direction once there is a breakout. #XRP WELCOME TO MONDAY. I’m a visual individual. Let this chart rekindle the spark. pic.twitter.com/xZXe4cpou1 — Tylie E (@TylieEric) August 19, 2024 Recent price action now puts the XRP price trading at the upper trendline of the triangular pattern. A breakout to the upside would cement a bullish rally for the cryptocurrency. According to the price target noted by Tyler, this breakout could see XRP initially surging to its current all-time high of $3.5 before facing resistance. However, the sheer nature of the bullish breakout would see XRP quickly clearing this resistance and going as high as $32. His timeline for this happening is between now and the end of the year. This projection, if realized, would represent a substantial 5,230% increase from the current price of XRP. What’s Next For XRP? Market sentiment around XRP is currently mixed. Tylie Eric’s forecast is particularly bold, predicting that the XRP price could climb as high as $32 by the end of the year. While surges of such proportions are not new to the crypto XRP, the chances of such an XRP surge happening are very slim at the moment. However, XRP has seen several other bullish predictions of a similar nature in recent weeks, particularly in the wake of the conclusion of the Ripple-SEC lawsuit. Related Reading: Glassnode Report Reveals Why The Bitcoin Price Dropped Below $50,000 On the other hand, a segment of the market remains bearish on XRP. One analyst recently even went so far as calling XRP the “biggest scam in crypto.” At the time of writing, XRP is trading at $0.6008 and is only on a 1.29% gain in a 30-day timeframe. Featured image created with Dall.E, chart from Tradingview.com
The founder of Dizer Capital, Yassin Mobarak, recently revealed why crypto investors should not miss out on investing in XRP despite its unimpressive price action so far. The crypto analyst made this revelation while also acknowledging how difficult it is to hold the crypto token for now. The XRP Rally Will Be Massive Mobarak suggested […]
XRP Ledger developer Marvin Sunday, alias @MarvinSunday4 on X, is leveling serious accusations against RippleX and Ripple for allegedly failing to provide financial compensation due to participants of the XRPL Ambassadorship program, which officially concluded on December 20, 2023. Marvin’s public outcry has brought significant attention to the practices of Ripple’s community engagement strategies, raising […]