Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39
01 März 2024 - 2:45PM
NEWSBTC
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. Related Reading: Bitwise CEO Says Bitcoin At
$250,000 Is Closer Than You Think According to CryptoBull, using
this data, the most realistic price for the altcoin currently sits
somewhere between $13 and $39. ”The long-term price channel shows
the most realistic #XRP price between $13 and $39 in the coming
months!” CryptoBull stated. The long term price channel shows the
most realistic #XRP price between $13 and $39 in the coming months!
pic.twitter.com/iuePJitybs — CryptoBull (@CryptoBull2020) February
29, 2024 While the lower end of this channel of $13 was more
realistic, the upper end of $39 has drawn criticism from the
community. In response to CryptoBull’s prediction, another X user,
Ben McClymans, said it was “crazy talk.” This is because for
XRP’s price to reach $39 per coin, then its market cap would have
to be larger than that of Ethereum, which is currently the
second-largest cryptocurrency in the market. However, other
community members jumped to the defense of XRP, reminding Ben that
the market cap of XRP had actually flipped Ethereum before. Given
this, they believe that it is possible that it will end up flipping
to Ethereum once again. XRP Price Performance Worries Investors The
XRP price performance over the last few years has worried investors
because while other altcoins were hitting new all-time highs, XRP
continued to struggle. However, this is understandable given that
the United States Securities and Exchange Commission (SEC) sued
Ripple in 2020, which adversely affected XRP’s performance. Related
Reading: Solana On A Roll: Crypto Analyst Predicts Push To $600 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
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024