Analyst Says XRP Price Will Rally 10,400% To $60, Here’s When
14 Agosto 2024 - 7:00AM
NEWSBTC
A crypto analyst has shared an optimistic outlook for the XRP
price, the native token of the XRP Ledger (XRPL), predicting a
potential rally of up to 10,400% with a price target of $60. The
analyst has also outlined when to expect this anticipated price
increase. XRP Price Set To Hit $60 With Projected 10,400%
Surge In an X (formerly Twitter) post on August 12, crypto analyst,
Brett Hill expressed bullish optimism about XRP’s future price. The
analyst suggests that XRP could be on the verge of a significant
breakout, potentially propelling it to new all-time highs.
Related Reading: Ethereum Return To $4,000: Key Zones And Price
Levels To Watch He shared a chart tracking XRP’s price movements
from March 2023 to 2025. Based on his analysis, the analyst
predicts that XRP is poised to reach a price range of $50 to $60,
representing a substantial 10,400% surge from its current
value. While outlining his bullish forecast for XRP, Hill
pointed to XRP’s weekly Moving Average Convergence Divergence
(MACD). The MACD is a trend-following momentum indicator
that is used to identify entry and exit points for crypto
traders. The analyst disclosed that this unique indicator is
currently signaling a strong bullish momentum for XRP, solidifying
its potential price increase to new all time highs. He further
highlighted a key support level at the $0.5403 mark. Hill has
forecasted that XRP would potentially surge between $50 to $60 if
it stays above the aforementioned support level. With XRP currently
trading at $0.57, well above the crucial support level, this could
mean that the $50 to $60 price target may be achieveable in the
coming weeks. The analyst has also affirmed that as long as
XRP holds this support level, it is well-positioned for “big
gains.” Despite his rather ambitious and bullish prediction for the
cryptocurrency, Hill warns that investors should watch out for a
resistance level of $0.6836. He disclosed that if XRP can
break through this resistance level, it could potentially trigger a
powerful upward momentum that could send its price even
higher. Analysts Stay Bullish On XRP After Legal Win In a
previous X post, Hill forecasted that the XRP Ledger is poised for
an explosive growth following Ripple’s recent legal victory over
the United States Securities and Exchange Commission (SEC).
On August 8, the United States (US) South District Court fined
Ripple $125 million in civil penalties for violating securities
laws by selling XRP to institutional investors. Ripple’s Chief
Executive Officer (CEO), Brad Garlinghouse sees the settlement fee
as a significant win, given that the SEC had previously requested a
whopping $2 billion in settlement. Related Reading: Legendary
Fibonacci Extension Reveals When Bitcoin Will Reach $109,000
Following the Court’s rule, analysts and market watchers have
expressed optimistic outlooks about XRP’s future value. Crypto
enthusiast, Amelie disclosed that XRP’s newfound regulatory clarity
was set to inject trillions of dollars into XRPL projects.
Additionally, a crypto analyst identified as ‘CryptoBull’ on X has
projected a major bullish price target for XRP. According to the
analyst, XRP could surge anywhere between $13 and $46 within the
next 1 to 18 months. Featured image created with Dall.E,
chart from Tradingview.com
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Lug 2024 a Ago 2024
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Ago 2023 a Ago 2024