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XRP Set For Major Upswing: Top Analyst Reveals Timing For $10-$20 Price Milestone

XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. 

Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. 

However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights.

Analysts Anticipate XRP Breakout

A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. 

U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. 

The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year.

Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. 

Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. 

This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. 

Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026.

‘Buy the Dip’ Opportunity? 

According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. 

Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%.

However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” 

Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity.

Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. 

XRP

At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. 

Featured image from Shutterstock, chart from TradingView.com 

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Gaming The System: Pundit Reveals Why XRP Price Will Reach $33

A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle.

Analyst Forecasts Exponential Rise In XRP Price

In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” 

Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000

Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” 

This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. 

Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. 

Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages.

It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. 

Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. 

Possible Price Correction Ahead Of Projected Surge

In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. 

Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000

Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP.  

XRP price chart from Tradingview.com

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XRP To Hit Zero Against BTC? Veteran Trader Cites ‘Pure Classical Charting’

In a recent analysis shared via X, Peter Brandt, regarded as one of the leading experts globally in applying classical charting techniques to trading futures, foreign exchange, and crypto markets, suggested that the XRP to Bitcoin (XRP/BTC) exchange rate could potentially hit zero. Brandt’s analysis applies traditional techniques inspired by pioneers such as Schabacker, Edwards, and Magee to forecast this drastic trend.

Brandt stated, “From a pure classical charting point of view (that is, Schabacker, Edwards, Magee) this chart looks like it is headed toward Zero. XRPBTC”

XRPBTC analysis

Why Brandt Thinks XRP Is Going To Zero Vs. BTC

The chart indicates a troubling trajectory for XRP when priced in Bitcoin, with key support levels being consistently tested over time. The weekly chart showcases a series of peaks and troughs with notable highs in 2017 and a sharp decline from 2018 onwards.

Recently, the XRP/BTC ratio has been hovering around a crucial support line, illustrated by a dashed horizontal line on the chart. Notably, the chart shows XRP/BTC experiencing significant volatility over the years. After reaching highs in 2017 at 0.00025 BTC, it has been on a general downtrend, especially notable after September 2018. “XRPPBTC has lost 70% of its value since the Nov 2017 post,” Brandt commented.

A critical historical support level for the digital asset is highlighted by Brandt at around 0.000007 BTC (black line), which the market is currently testing. The continuation of the bearish trend might break this support.

Moreover, two moving averages are depicted on the chart. The 8-week SMA (Simple Moving Average) is currently at 0.00000838 BTC, while the 18-week SMA stands at 0.00000990 BTC, indicating bearish momentum as the price is below both averages.

The Relative Strength Index (RSI) on the chart, with a 14-week period, is at 28.80, which is near the oversold territory. This might usually suggest a potential for price recovery, yet the persistent bearish sentiment depicted suggests caution.

Peter Brandt’s assertion that the XRP/BTC ratio could be “headed toward Zero” comes from observing the continued failure of the price to rebound from key support levels and the downtrend remaining intact without signs of reversal. His commentary reflects a stark outlook for XRP when compared against Bitcoin, emphasizing the importance of these technical levels in predicting future movements.

In a follow-up post on X, Brandt doubled down on this claim, stating, “It is actually fun poking a stick at XRP_aholics. My comparison is to BTC, not USD, so here is what I don’t understand. How can XRP bulls be so insistent in that XRP is near ATLs vs BTC, and, in fact, has only closed higher than present levels in 6 of the last 126 months?”

At press time, XRP traded at $0.49845.

XRP price

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Crypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?

The XRP price, like the rest of the crypto industry, continues to struggle against the bearish winds that have taken over. This has seen its price consistently decline in spite of bulls’ best efforts to prop it up. However, it seems all hope is not lost for the altcoin as expectations are that it will recover soon enough. More specifically, crypto analyst WalterMoon is particularly bullish on the XRP price, noting that it is possible that it will break out of its current pennant.

Analyzing The XRP Price Movement

To try and pinpoint where the XRP price is headed, the crypto analyst first analyzed the movement of the altcoin over the last few weeks. This analysis showed a consistent breakout trend, albeit short-lived, that suggests that the altcoin could be getting ready to mount another one soon.

One of these breakout trends took place last month in May when the price had entered a failing channel. Eventually, the XRP price was able to muster enough momentum, even after breaking below its support line below $0.5 and then made a run for $0.52.

Again, this is seen later in the month when the price once again fell into a falling channel. This decline saw it fall below support. But like the previous time, it was able to move upward inside this falling channel and eventually broke out of the channel.

XRP price chart from Tradingview.com

This trend was recorded a number of times in the month of May, showing XRP’s strength in the market right now. However, the altcoin has fallen inside another falling channel once again, but can it maintain its breakout trend from last month?

Gathering Support Inside A Pennant

Crypto analyst WalterMoon has identified the XRP price inside a falling channel and as it continues to decline inside this pennant, the price has taken hit after hit. But given the performance from the last month, Moon believes there is still upside to come for XRP.

According to the analyst, there is a possibility that the altcoin can exit its current pennant by bouncing off the support at $0.533. In this case, it could send the price as high as $0.54, like it did the previous times. “Now, I think that Ripple can bounce up from support line to $0.5330, thereby exiting from pennant,” the analyst said.

Despite the bullish outlook, WalterMoon’s target is still conservative for all intents and purposes. The target still remains above the $0.54 level, which, unfortunately, doesn’t show much expectation for the XRP price to cross $1.

XRP price chart from Tradingview.com

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What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?

The bulls have continued to take a beating in the market, and XRP bulls, in particular, were recently in the spotlight as $1.27 million was liquidated from their long positions. This 6,350% spike in long liquidations is likely due to XRP’s recent price action, highlighting the general sentiment in its ecosystem. 

$1.27 Million In Longs Get Liquidated

Data from Coinglass shows that $1.27 million in long positions have been liquidated in the last 24 hours. This is massive in comparison to the $19,220 liquidated in short positions during this period. This occurrence was likely due to the 3.85% drop in XRP’s price, as the crypto token dropped to as low as $0.51 in the last 24 hours. 

XRP’s price decline during this period is believed to have been caused by the sharp correction in Bitcoin’s price, with the flagship crypto dropping below $62,000 again. However, there also seems to be a bearish sentiment in the XRP ecosystem, as data in the XRP derivatives market shows that trading volume has dropped by over 26%. 

Meanwhile, options trading volume has also dropped by over 46%. These figures suggest that XRP investors are choosing to remain on the sidelines, seeing as the bears look to have the upper hand at the moment. However, the bright spot is that there has been an uptick in open interest, which means some bulls are still willing to bet on the crypto token. 

These bulls might have a good reason to gamble on the crypto token, seeing as crypto analysts are predicting significant moves for XRP. Specifically, crypto analyst Jonathan Carter recently predicted that XRP could rise to $0.93 and further to $1.68. There is also the feeling that a rally is long overdue for XRP and could be anytime soon. 

When The XRP Rally Could Come

An XRP rally could be on the horizon with the legal battle between the Securities and Exchange Commission (SEC) and Ripple almost coming to an end, with a ruling expected soon enough. Crypto analyst JackTheRippler predicted that the crypto token could rise to as high as $100 once this case ends. 

While this price level is undoubtedly ambitious, XRP could still make a significant move to the upside, considering that it also enjoyed an upward trend on the back of Judge Analisa Torres’ ruling that the crypto token wasn’t a security. 

At the time of writing, XRP is trading at around $0.51, down in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

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XRP Forms On-Chain Signal That Led To 16% Crash Last Time

On-chain data shows that many old coins have moved on the XRP network recently, a sign that proved to be bearish for the coin last time.

XRP Age Consumed Metric Has Registered A Large Spike

According to data from the on-chain analytics firm Santiment, XRP has just observed a large movement of dormant coins similar to what the asset witnessed last month.

The indicator of interest here is the “Age Consumed,” which shows “the amount of tokens changing addresses on a certain date, multiplied by the time since they last moved,” as per Santiment’s definition.

When this metric has a high value, it means that a large number of coins previously dormant have finally been moved to the blockchain. Old coins are generally less likely to become involved in selling, as they belong to the more resolute hands in the market. As such, any large movements of these coins can be worth noting since it’s not an event that happens too often.

The below chart shows the trend in this indicator for XRP over the past month or so:

XRP Age Consumed

From the graph, it’s visible that the XRP Age Consumed registered a sharp spike at the start of this month, implying that some old hands have decided to break their silence.

This latest spike has been quite massive in scale and has been reminiscent of another spike that was seen last month. Interestingly, this previous spike occurred shortly before the price of the cryptocurrency tanked 16%.

Thus, the previous spike would have corresponded to some HODLers moving to sell their coins. It’s possible that the latest large dormant coin movement was also made for a similar purpose, and hence, it can prove to be bearish for XRP.

Santiment points out that this may not be so after all, though, saying:

There is an argument that this old coin movement is related to potential #buythedip interest from key stakeholders, and prices have been climbing mildly since this May spike occurred.

While this dormant coin movement may turn out to be bullish this time around, there is another signal brewing for the asset that can also be something to keep an eye on.

As highlighted in the same chart, the Total Open Interest for XRP, which keeps track of the number of derivative positions currently open on all exchanges related to the asset, has been going up recently.

This metric is now at a 3-week high of $483.4 million, implying that there is a notable amount of speculation in the market right now. Historically, this has led to volatility in the price.

In theory, this volatility can take the asset in either direction, but it’s worth noting that the crash last month occurred after the Open Interest hit extreme levels. So far, though, the indicator hasn’t quite yet reached the same highs.

XRP Price

XRP is yet to make any significant recovery from the crash last month as its price is still trading around $0.52.

XRP Price Chart

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Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price?

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price. 

Ripple Unlocks 500 Million XRP Tokens

Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market. 

Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so. 

It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow. 

Talks About Ripple Dumping On The Market Resurface

Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales. 

On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges. 

Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission. 

At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Ripple)

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XRP Price Edges Up As Ripple Forms Major Partnership In Japan

Ripple has announced a major partnership with Tokyo-based HashKey DX, a consulting company of the HashKey Group, to deploy XRP Ledger (XRPL)-powered enterprise solutions in Japan’s burgeoning blockchain sector. The announcement led to an immediate 1.9% increase in XRP’s price, although this gain was slightly pared back; as of the latest data, XRP stands 1.1% higher since the news broke.

The Ripple And HashKey Partnership: Details

The collaboration leverages the substantial success HashKey Group has seen in mainland China. HashKey‘s blockchain-powered solutions for supply chain finance have registered over 4,000 companies, including 23 banks and 4,300 suppliers. The total transaction volume through these solutions has exceeded $7 billion, with almost $3 billion in financing transactions.

In Japan, these blockchain solutions will be adapted and deployed through a partnership involving Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The XRPL will be the foundational technology platform. This blockchain specializes in tokenizing and exchanging both crypto-native and real-world assets.

Andy Dan, a representative from HashKey DX, highlighted the efficiency and suitability of XRPL for their needs, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution. With its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.”

Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, echoed this enthusiasm for the partnership: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.”

XRP Price Analysis

The initial spike in XRP’s price post-announcement reflects the market’s optimistic reception of Ripple’s strategic moves. However, the broader price action context reveals more complexity.

Over recent weeks, XRP has experienced volatility, notably breaking down from a symmetrical triangle pattern on the weekly chart that began forming in September 2021. This pattern typically indicates a period of consolidation, with the eventual breakout direction suggesting the prevailing market force.

XRP price

Currently, the breakdown suggests that sellers have gained the upper hand, with the triangle now acting as a resistance zone. XRP faces multiple hurdles ahead as it is currently trading below several critical exponential moving averages (EMAs) – 20, 50, 100, and 200-week EMAs, all nested within the former triangle pattern. This setup presents significant resistance levels that need to be overcome for bullish momentum to resume.

The Relative Strength Index (RSI), currently at 49, hovers near the neutral 50 mark, indicating that neither bulls nor bears have definitive control. This neutral position underlines the market’s current uncertainty, waiting for a catalyst that could drive the next significant price movement.

Should the bulls regain control and push the price above the triangle’s resistance, the 0.236 Fibonacci retracement level at $0.68410 could initiate a shift in sentiment and potentially more robust gains for XRP.

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

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 price chart from Tradingview.com

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XRP Whales Are Active: Here’s Where They Are Sending Coins

On-chain data shows the XRP whales have been active during the past day. Here are the destinations their moves have been heading to.

XRP Whales Have Moved Around Big Amounts In Last 24 Hours

According to data from the cryptocurrency transaction tracker service Whale Alert, several large XRP transactions have been witnessed on the blockchain in the past day.

More specifically, five transfers in total that are of scale often attributed to the whales have occurred on the network inside this window. Since whale transactions involve the transfer of a significant sum of capital, they can sometimes cause fluctuations in the market.

The implications any whale transfers might have for the market depend on their intent. However, the exact purpose behind any transfer can be hard to ascertain. Nonetheless, the address details of the transaction may provide at least some hints about the context surrounding it.

First, here are the details regarding the oldest XRP whale transfer from the past day:

XRP Whale Deposit

As is visible above, this transaction involved the movement of 29.74 million XRP, worth $15.7 million at the time of the transfer. The sender was an unknown wallet, likely a whale’s address.

On the other hand, the receiver was a wallet attached to a known centralized platform: the cryptocurrency exchange Bitso. Thus, the whale here made a deposit to the exchange from their personal address.

Investors usually make such transactions whenever they want to use one of the services platforms like these provide, including selling. As such, exchange inflows can prove to be bearish for the price.

The second-oldest whale transaction from the past 24 hours was also an exchange inflow, this one towards Bitstamp. Interestingly, the sending address for this one was the same as the Bitso deposit, so the same whale was probably behind both of these moves.

The large investor shifted 27,430,000 XRP ($14.5 million) to the exchange in this second move. Naturally, if the whale has made these large moves for selling, they could be a bad sign for the asset’s price.

Though, perhaps fortunately for the XRP investors, two exchange outflows have also occurred recently, which may cancel out these inflows. Below are the details of the two larger withdrawals.

XRP Withdrawal

In this move, a whale took out around 26.67 million XRP ($14 million) from Binance. Today’s exchange outflow also involved Binance, with another 20.85 million tokens ($10.6 million) leaving the platform.

The fifth and final transfer was the largest during the past day at a whopping 100 million XRP ($53 million), but this move involved unknown wallets on both sides so it’s impossible to say why the move would have been made.

The reason could have been anything, from a change of wallets to selling through over-the-counter (OTC) means.

XRP Price

XRP had recovered to $0.57 earlier in the week, but it appears that the coin has lost this progress; it’s back at $0.52 now.

XRP Price Chart

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XRP Price Ready For 70% Breakout As Long-Term Consolidation Nears Its End

The XRP price has seen some level of recovery over the last two days that has seen positive sentiment returning to the latocin once again. This has carried forward with the expectation that the price will continue to surge. One crypto analyst in particular, who goes by RLinda, has revealed why the cryptocurrency is set to surge 70%.

XRP Price Completes A False Breakdown

In the analysis that was posted on the TradingView website, crypto analyst RLinda outlined a number of reasons why the XRP price may be getting ready for a surge. One of these reasons is the fact that the altcoin has completed a false breakdown.

This is referring to the price crash that sent the price falling from $0.7 to $0.42, recording an almost 50% crash. However, the crypto analyst believes that this crash was bullish for the coin as it was basically a false breakdown, followed by a breakout.

In scenarios such as this, the XRP price could be headed for a breakout similar to the breakdown and eventual recovery between August and November 2023. Such a case could see the price rise 50% with a higher end of 70%.

XRP price chart from Tradingview.com

Additionally, the XRP price has also been in long term consolidation, another factor that could contribute to this breakout. “XRPUSDT is forming a technical false break of support, in the long term consolidation above the zone should be formed with the purpose of continuation of growth, the potential of which can be opened by 50-70%,” the analyst stated.

The State Of XRP

XRP has already seen investors returning once it was clear the worst of the crash. Crypto whales, in particular, have been making their bets, moving 600 million XRP tokens. As NewsBTC reported, whales holding between 10 million and 100 million XRP increased their holdings by 30 million in just one week. But even more interesting is the fact that they have moved up to 600 million tokens in the space of two weeks.

These moves come ahead of crypto analysts prediction major upside for the cryptocurrency. One of those is crypto analyst Egrag Crypto who predicted that the XRP price is ready to spike as high as $1.4. This would mean an over 100% increase in price.

However, XRP has not exactly been the market favorite in recent times. Its daily trading volume has seen a notable decline, with Coinmarketcap reporting a 20% drop to $1.33 billion in the last day. Nevertheless, the altcoin remains the 7th-largest in the space, with a market cap of $30.3 billion.

XRP price chart from Tradingview.com

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Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets

Crypto analyst Egrag Crypto has singled out VeChain (VET) and XRP as two crypto tokens that could soon witness significant price surges. The analyst also outlined price targets crypto investors can expect these tokens to attain.

VeChain Could Rise To As High As $2.5

From the chart Egrag shared in his X (formerly Twitter) post, one could see that he was hinting that VeChain hit $2.5 at its market peak. He also elaborated on how the crypto token will rise to that level by breaking its price action into three targets. The first target was the yellow channel, which he highlighted on the chart. 

VeChain

VeChain is expected to rise to as high as $0.18 when this target is fully achieved. Egrag noted that this will mark the “forging of the MACRO-Bottom.” The second target will see the crypto token rise to almost $0.9. The analyst pointed out that this channel “aligns with the Fib 0.702 & 0.786 levels,” forming what he referred to as the “Mid-Bull-Cycle.”

VeChain is expected to rise to as high as $2.5 when the last target is achieved. Egrag remarked that this target aligns with “key Fib levels 1.236, 1.414, & 1.618, suggesting the potential cycle top for #VET.” This isn’t the first time the crypto analyst has laid a bullish narrative for the VeChain token. 

In February, he predicted that the crypto token could witness a 140x price increase if it repeats its price action from around 2021 when it rose by 14.638%. 

XRP Run To $1.4 Still In Play

Egrag provided his bullish analysis of XRP in a separate X post. He stated that the crypto token’s double formation was giving a “strong bullish signal.” He added that he is confident that the “thrust will soon.” This recent analysis was an update to a previous one where he predicted that XRP would rise to $1.4 soon enough. 

XRP

 Back then, he was also confident that this move to the upside was imminent, noting that the bulls had accumulated all the XRP tokens that the bears had dumped. He urged XRP holders to “stay steady” in anticipation of the life-changing opportunities that may arise due to the crypto token’s parabolic surge. 

Egrag has remained bullish on the XRP token despite its unimpressive price action. He has predicted at different times that the crypto token could rise to as high as $27 at its market top. 

At the time of writing, XRP is trading at around $0.54, up in the last 24 hours, according to data from CoinMarketCap.

VET price chart from Tradingview.com

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XRP Surges 12% As Bulls Take Charge, Expert Raises Target To $1.4

XRP has shown notable signs of renewed bullish momentum in the market. It bounced back from a significant 11% price drop on April 12th, which took the token to its lowest level of the year at $0.4230. 

However, last week saw a solid 12% price recovery, with XRP outperforming the other top 10 altcoins in the market, behind only Solana (SOL) and Binance Coin (BNB). 

Signs Of A Strong Bullish Trend Ahead For XRP? 

On Tuesday, XRP hit a high of $0.5571, demonstrating its bullishness and outperforming its peers. This resurgence was paired with a spike in wallet activity, a positive sign for the token’s overall market sentiment. 

According to the network intelligence platform Santiment, the number of wallets holding at least 1 million XRP has steadily increased over the past six weeks, rising by 3.1%. It is now just one wallet away from reaching an all-time high (ATH).

XRP

In addition, crypto analyst Ali Martinez reported a notable buying spree among XRP whales, who purchased over 31 million tokens in the past week alone. This has contributed to the cryptocurrency’s price recovery, emphasizing renewed confidence in its uptrend prospects.

Regarding price action, market analyst Egrag Crypto points out that XRP has formed a double bottom pattern, considered a strong bullish signal. This pattern, combined with the transition of the consolidation zone into a supply zone and the wicking area into a demand and accumulation zone, indicates a promising outlook for the token, according to the analyst. 

Egrag Crypto is confident that a significant price spike or “thrust” is imminent, and the analyst has updated his target to $1.4 for XRP. 

Critical Resistance Levels To Watch 

Despite initial bullish outlooks for XRP, the token has retraced to the $0.5474 price level as of the time of writing, accompanied by a 14% decrease in market capitalization over the past 30 days.

Moreover, as XRP aims to reach higher levels, potential resistance barriers may impede the token’s recovery and the bullish trend. Analyzing the XRP/USD chart below reveals the immediate resistance at $0.5644, which has prevented consolidation above current levels for the past week.

XRP

After that, the final obstacle before a retest of the $0.600 zone lies at the $0.5884 level. This level previously served as a support floor for the token, leading to a rebound during the uptrend seen in March, which took XRP to its yearly high of $0.745.

Conversely, monitoring the support levels at $0.52910, $0.5184, and $0.5044 is crucial. If a bearish scenario develops in the coming days, these levels may prevent XRP from falling below $0.500.

Featured image from Shutterstock, chart from TradingView.com

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Analyst Says XRP Price Will Reach $100, But This Needs To Happen First

Crypto analyst JackTheRippler has raised the possibility of the XRP price rising to $100 soon enough. As part of his prediction, he mentioned what needs to happen for the crypto token to attain such ambitious heights. 

How XRP Price Could Rise To $100

JackTheRippler suggested in an X(formerly Twitter) post that the XRP price hitting $100 was “inevitable” once the case between the Securities and Exchange Commission (SEC) and Ripple came to an end. Furthermore, he predicted that XRP could rise to as high as $10,000, claiming that the crypto token hitting five figures was achievable after the lawsuit.

Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading

The analyst’s remarks again highlight the belief among members of the XRP community that the SEC’s lawsuit against Ripple has greatly hindered XRP’s growth. Specifically, the lawsuit is believed to be why XRP underperformed in the 2021 bull run, having made remarkable strides in the 2017 bull run (long before the lawsuit was instituted). 

Meanwhile, in his remarks, JackTheRippler alluded to XRP gaining regulatory clarity once the case between the SEC and Ripple was over. This statement caught the attention of some of his followers, who pointed out that it had gotten clarity following Judge Analisa Torres’ ruling that XRP isn’t a security. 

Interestingly, XRP has failed to mount any significant run despite gaining this clarity last year. This is one reason why some XRP holders seem to have lost faith in the crypto token, as expectations were high following Judge Torres’ ruling. However, nothing much happened as the crypto token briefly rose on the back of the ruling but steadily declined in the following weeks. 

Therefore, these holders will likely be cautious about getting their hopes high despite JackTheRippler’s optimism since XRP could still maintain its unimpressive price action even after the SEC’s lawsuit is over. 

The SEC’s Lawsuit May Not Be Ending Anytime Soon

Meanwhile, it is worth noting that the case between the SEC and Ripple could even drag on beyond this year, irrespective of the outcome of the penalties stage, as both parties are likely to appeal certain rulings. This means that XRP holders might have to wait a while to see if the crypto token hits $100 based on JackTheRippler’s prediction. 

If the case is prolonged beyond this year, XRP could miss out on achieving its true potential in this bull run if the lawsuit is indeed acting as a stumbling block to its progress. The lawsuit has, however, not stopped crypto analysts like Egrag Crypto from making bullish predictions for XRP in this bull run. He predicts the crypto token could rise to as high as $27 at this market peak. 

At the time of writing, XRP is trading at around $0.54, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Ripple crypto analyst)

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XRP Wallets Holding At Least 1 Million Coins Nears All-Time High As Sentiment Improves

With the crypto market on the rise once again, XRP has seen positive headwinds and this has triggered an improvement in sentiment among investors. This positive recovery has seen more crypto investors move to acquire the altcoin, pushing a very important holder cohort toward new all-time high levels.

Wallets Holding More Than 1 Million XRP Nears ATH

Over the last year, there has been a lot of selling among XRP investors as the price continued to struggle. This poor performance continued despite Ripple securing multiple partial victories against the United States Securities and Exchange Commission (SEC), prompting investors to jump ship.

One XRP holder cohort that witnessed a lot of selling is the addresses holding at least 1 million XRP tokens. At current prices, it would mean that these wallets are holding at least $500,000 on the lower end of the cohort, making this the cohort that includes the dolphins and whales.

The number of addresses holding at least 1 million tokens had hit its all-time high back in June 2023. But with the price falling, these large holders began to sell, and at one point, the number of wallets sat around 50 wallets below its all-time high of 2,014.

However, with the crypto market moving toward another bull market, expectations are that the price of XRP will follow the rest of the market, prompting large investors to return. Data from Santiment, an on-chain data aggregation platform, shows that over the course of 2024, the number of wallets holding 1 million tokens or more rose steadily and by April, this figure is now sitting at 2,013, one wallet away from reaching its previous all-time high, and two wallets away from setting a new record.

Why Are Large Investors Returning?

One reason why large investors are returning to XRP could be that the indicators are finally turning bullish for the altcoin. There was also an opportunity for these investors to buy the tokens for cheap when the market crashed and altcoins like XRP suffered almost 40% losses.

Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices

Popular crypto analyst TonyTheBull took to X (formerly Twitter) to reveal the significance of this price crash. According to the analyst, it was the final capitulation shakeout for the altcoin. Comparing it to a similar shakeout in 2017 shows that after this, XRP could go on a massive rally.

The large investors could be expecting this rally as well, hence, why they have been buying up large amounts of coins. If the 2017 rally is anything to go by, then the XRP price could quickly barrel through $1, printing significant returns for investors.

XRP price chart from Tradingview.com

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Ripple Vs. SEC Update: Is The Lawsuit Finally Coming To An End With A Settlement?

The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws. 

Ripple Proposes $10 Million Fine Instead

In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than $10 million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of $1,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales.

Specifically, the SEC proposed that Ripple pay a civil penalty of $876,308,712 alongside a prejudgment interest of $198,150,940 and disgorgement of $876,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than $10 million. 

Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed $10 million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.”

Therefore, Ripple argued that the Commission’s request for a civil penalty of over $876 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than $10 million more appropriate. 

Accounting Error From The SEC

Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.”

Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost $2 billion was an appropriate fine. 

Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.”

Ripple Also Opposes SEC’s Proposed Injunction

As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction. 

The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.” 

The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations. 

XRP price chart from Tradingview.com (Ripple vs. SEC)

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Analyst Outlines XRP Price Scenarios Ahead Of Ripple-SEC Case Update

In a chart analysis shared via X, the crypto analyst Dark Defender provided insight into the potential price movements of XRP ahead of this week’s Ripple-SEC case update. The analysis, conducted on a monthly time frame, reveals that XRP has been holding above a critical support trend marked in blue. With the crypto community’s eyes set on the new Ripple filings expected next week, there’s a mix of anticipation and caution.

XRP Price Enters Potentially Crucial Week

Dark Defender notes that although market news does not typically have a direct correlation with price movements, the “last puzzle piece” pertaining to the Ripple case may add a layer of enthusiasm to the market sentiment surrounding XRP. The question posed is: What could happen if XRP fails to maintain its position above the blue support line?

XRP price analysis

According to the analysis, if XRP breaks below this blue support line, it will likely approach the two critical Fibonacci retracement levels at $0.4623 (38.2% retracement level) and $0.3917 (23.6% retracement level). These figures are derived from the swing high and low points on the chart, traditionally considered potential support levels where the price could stabilize or bounce back.

In the context of the current chart, a drop below these levels, particularly if the price closes under $0.3917 for two to three days consecutively, would invalidate the bullish five-wave structure that Dark Defender suggests could propel XRP to a high of $5.85. On the flip side, should XRP reclaim the 61.8% Fibonacci level at $0.6044, it could signify a first step towards a strong upward move.

Between the price range of $0.6649 and $0.3917, any price movement is considered a sideways trend. A breakout above the 70.2% level at $0.6649 would likely confirm a bullish trend, with the analyst highlighting this as a significant threshold for a positive price trajectory. Above this level, XRP would then eye the next Fibonacci extension levels of $1.8815 (161.8% extension) and potentially $5.8563 (261.8% extension), which are ambitiously projected targets.

The chart also highlights a “Main Resistance Trend” line that has capped the price since the peak of early 2018, and the current price action is pinched between this descending resistance and the ascending support trend lines, forming a converging pattern that traders often interpret as a potential breakout signal.

A breakout could be the first bullish indication of a larger rally, with at least one monthly close above the line required. In the past, several attempts at a breakout have failed, and even one monthly close was followed by a fall back below the trendline the following month.

Ripple Vs. SEC: What To Expect This Week

Ripple Labs is gearing up to file its response to the US Securities and Exchange Commission’s (SEC) remedies briefing on April 22, a pivotal moment in their protracted legal battle. This response from Ripple is in reaction to the SEC’s briefing that put forth potential remedies including disgorgement of profits derived from XRP sales and civil penalties. The financial stakes are high, with the SEC calculating fines that could reach around $2 billion, claiming that Ripple engaged in an unregistered securities offering with its XRP sales.

The legal and financial communities expect Ripple to mount a formidable defense against the SEC’s claims. Key to this counter-argument will be undermining the SEC’s assertion of the necessity for disgorgement, given the alleged lack of demonstrable financial harm to XRP purchasers. Furthermore, Ripple is likely to leverage favorable recent legal decisions and regulatory developments, aiming to weaken the SEC’s position.

According to the schedule, Ripple is expected to submit a public redacted version of its opposition brief along with associated declarations and exhibits today, if these materials are devoid of any SEC-designated confidential information. If confidentiality is a concern, Ripple will file the documents under seal and submit a redacted public version by April 24. Following this, the SEC will have the opportunity to reply, with their response anticipated to be filed under seal by May 6.

At press time, XRP traded at $0.53.

XRP price

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Ripple CEO Walks Back $5 Trillion Crypto Marker Prediction, Unveils New Target

The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industry’s future market capitalization, acknowledging that he had underestimated the market’s potential surge. 

Ripple CEO Underpredicts Crypto Market Cap

Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year. 

The Ripple CEO was questioned about his previous optimistic forecast for the crypto industry’s market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion. 

In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the market’s potential for further growth. He admitted to underpredicting the industry’s potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases. 

Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies. 

He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoin’s value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoin’s supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrency’s supply. 

Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving. 

Regulations Are Vital For Market Development

Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future. 

He explained that one of the primary factors hindering the growth of this evolving market was the United State’s prevailing anti-crypto stance, suggesting that the country’s enforcement actions on the developing industry were “problematic.”

The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market. 

Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler.

Crypto total market cap from Tradingview.com (Ripple CEO)

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XRP Whales Are On The Move Again, But Are They Bullish Or Bearish?

XRP could continue a price correction in the short term as recent price action has put it rebounding against a resistance level of $0.5. On-chain data has also revealed a row of transactions from whales of the cryptocurrency in the past 24 hours, but are they bullish or bearish on XRP? These large transactions have been a mix of both, although the trading volume of each transaction could point to them being bearish rather than bullish. 

XRP Whales On The Move

Large XRP transactions, often indicators of whale activity, have spiked recently. XRP has seen some major whale movements over the past few weeks that point to a bearish sentiment among big players amidst a price correction for the cryptocurrency in the past seven days. However, while some of these big transfers are going into crypto exchanges for a potential selloff, some are also anonymous wallets shifting huge amounts of tokens from crypto exchanges into private wallets.

Whale transaction tracker Whale Alerts posted on social media platform X (formerly Twitter) instances of enormous transactions on April 16. The first notable transaction was the transfer of 158 million tokens worth $77 million from a private wallet into the crypto exchange Binance. This massive transfer into the exchange ignited worrying signs for holders hoping for a reversal from bearish momentum into a price surge. Similarly, there was a transfer of 28.9 million XRP worth $14.2 million into Bitstamp. 

On the other hand, Whale Alerts also indicated the outflow of XRP from Binance into private wallets. Particularly, the tracker noted the transfer of 100 million XRP, worth around $48 million, into private wallets. These transfers were made with three transfers in rapid succession, with each transfer of 33.33 million XRP worth $16.2 million. 

Interestingly, the tracker also noted the movement of large amounts of tokens on April 15. Overall, there were transfers of 457 million XRP worth over $234 million into crypto exchanges Bithumb, Bitvavo, and Bitstamp. The largest transaction was the transfer of 390 million tokens worth $201 million into Bithumb.

What’s Next For The Altcoin?

Whale transactions are very important in the world of cryptocurrencies. Prices could swing massively at any time based on the actions of a few big players. For regular XRP investors, these whale transfers highlight the volatility and uncertainty in the current price of XRP. At the same time, their movement into crypto exchanges is bearish, and they give investors a glimpse of the the altcoin’s price trajectory in the short term. 

At the time of writing, XRP is trading at $0.4986. Although currently up by 1.79% in the past 24 hours, XRP seems to be reversing after hitting $0.5 again. The altcoin is still in a price correction on the larger timeframe, as it is currently down by 18% and 20% in the past seven and 30 days, respectively.

According to a crypto analyst, XRP is set to go on a massive rally to $22. Additionally, many experts believe that the price of the altcoin will experience an enormous price increase after the next Bitcoin halving.

XRP price chart from Tradingview.com

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XRP Price Set For 3,000% Rally To $22, Analyst Predicts

Crypto analyst Crypto Egrag has provided an update on his recent analysis, where he predicted that XRP would experience a significant price decline. Having called that correctly, Egrag has now predicted what the next move will be for the crypto token. 

XRP Price Could Rise To As High As $22

Egrag mentioned in an X (formerly Twitter) post that XRP’s next move “could be between 1000% and 3000%.” He acknowledged that the current market conditions might make it hard for anyone to envisage XRP seeing such a move. However, he added that the chart indicates that XRP would rise to between $10 and $22 if historical moves from 2017 or 2021 repeat themselves. 

XRP price

Egrag also noted that XRP had hit the lower target he had predicted for the crypto token, suggesting it was well primed for such a parabolic rise due to this price correction. In his earlier analysis, the analyst had predicted that XRP could drop to as low as $0.44, which it eventually did on April 13. Since then, the token has recovered and is looking to break the $0.50 resistance level in preparation for its parabolic rise. 

Meanwhile, crypto analyst Lunc Maxi’s recent analysis also echoes sentiments similar to those shared by Egrag Crypto. The crypto analyst shared XRP’s daily chart and noted that it looks exactly like 2017 and “even had the same drop.” If XRP’s current price action follows 2017, then there is a greater likelihood of XRP hitting $22 than just stopping at $10 since Egrag’s chart showed that a similar move to 2017 will take the crypto token to that price level.

XRP’s Short-Term Price Target

In a subsequent X post, Egrag suggested that XRP might be headed to $1.4 in the short term. While he admitted that there could be further price declines before this move occurs, he added that XRP bulls have shown that they are willing to match the selling pressure from the bears. Therefore, it shouldn’t be long before the bulls take control and cause XRP’s price to surge. 

He further urged XRP holders not to be deterred, stating that these price dips are “just opportunities for your bids to be filled, and these bids could be life-changing opportunities.” XRP’s rise to such price levels would indeed be life-changing for XRP investors. However, considering its unimpressive price action so far, it remains to be seen if the crypto token will attain such heights. 

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

XRP price chart from Tradingview.com (Crypto analyst)