Posted on

Exploit Causes XRP Price Crash: Ripple Co-founder Discloses Losses Of $113 Million

XRP experienced a significant price drop early Wednesday amidst rumors of a potential exploit. The XRP price dropped more than 4% to $0.4853 but later recovered to $0.500 following a clarification from one of Ripple’s co-founders.

Personal XRP Accounts Impacted, Not Ripple’s

Initial reports suggested that Ripple had suffered a significant security breach, which was brought to light by decentralized finance (DeFi) investigator ZachXBT. These reports raised concerns about the overall security of the Ripple protocol.

According to investigations, the breach resulted in the theft of more than 213 million XRP tokens, valued at over $112 million. The stolen funds were reportedly laundered through cryptocurrency exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC.

However, Ripple co-founder Chris Larsen took to X (formerly Twitter) to clarify the situation. In a recent post, Larsen stated: 

Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved.

XRP Price Analysis

Despite the recent security concerns, XRP is trading at $0.5085, marking a 3.4% decrease in the past 24 hours. However, beyond the Ripple co-founder’s personal account exploit, the XRP price has experienced a significant decline over the past month.

Over the last seven days, the token has seen a minor 1.3% drop. The decline has deepened in the previous fourteen days with a 10% decrease. This is more problematic for XRP enthusiasts because the price has lost significant ground over the past 30 days, with an 18% dip.

Nevertheless, XRP bull and crypto analyst EGRAG Crypto provides an intriguing price analysis that could potentially encourage investors toward a price recovery if the token manages to hold and consolidate above the $0.500 level.

XRP Price

According to EGRAG, a handful of chart analysts have noted that after wave 1 of the Elliott Wave theory, wave 2 could retrace up to 90% of wave 1. The initial targets of $0.85 to $1 were successfully reached during the July pump, with the price reaching around $0.93 after Ripple’s partial victory against the SEC in its ongoing legal battle over XRP classification.

Currently, EGRAG suggests that a “wicking event” down to $0.41 is possible, considering a 10%-15% fluctuation due to the volatile nature of the crypto markets.

However, the analyst points out that the upside lies in the upcoming Wave 3, which is influenced by Wave 1 and typically has a ratio of 1.618 compared to Wave 1.

If all of this plays out, EGRAG ultimately sees the next short-term target for XRP being the all-time high (ATH) at $5. If the original wave count is adjusted, the range could be between $2.2 and $2.8.

XRP price

Featured image from Shutterstock, chart from TradingView.com

Posted on

Key Requirements For Spot XRP ETF Approval Revealed Amidst 4500% Price Surge Target

Following Bitcoin’s spot exchange-traded fund (ETF) approval on January 11, market speculation has grown around the possibility of similar investment vehicles for major cryptocurrencies, including a spot XRP ETF. However, certain requirements and regulatory considerations must be met before such a development can occur.

Regulatory Prerequisites For Spot XRP ETF

FOX reporter Eleanor Terret clarifies the matter, stating that launching an XRP spot ETF would first require the establishment of a futures ETF. 

In the case of Bitcoin, the approval of spot ETFs was conditional upon the Securities and Exchange Commission (SEC) concluding that the Chicago Mercantile Exchange (CME) Bitcoin futures market provided sufficient surveillance against fraud and manipulation. 

Terret suggests that for XRP to have a spot ETF, a futures ETF must first be established, marking a step in the right direction.

Bloomberg ETF expert James Seyffart shares a similar sentiment, stating that he does not anticipate an XRP ETF launching this year. Seyffart cites the ongoing SEC case against Ripple as a factor influencing his stance, suggesting that an XRP ETF is more likely to emerge once the regulatory matter is resolved. 

Seyffart adds that XRP futures trading on a regulated platform like the Chicago Mercantile Exchange would be a prerequisite for the SEC to consider any applications for a spot XRP ETF. Seyffart hints that an XRP futures ETF could also be advantageous in this context.

The SEC has maintained a cautious approach towards spot ETFs involving crypto assets due to concerns about potential market manipulation. Seyffart emphasizes that the availability of XRP futures trading on a regulated platform, such as the CME, would provide a favorable framework for the SEC’s consideration of a spot XRP ETF, especially given previous court rulings highlighting the correlation between futures and spot markets.

Amidst the ongoing speculation, blockchain firm Ripple seems to be preparing for potential involvement in the ETF space. 

A recent job advertisement posted on Ripple’s website reveals their search for a Senior Manager in business Development, with a focus on institutional decentralized finance (DeFi). The role includes spearheading cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.

XRP’s Future Potential – From $0.5299 To $27?

Crypto market analyst EGRAG crypto has conducted a comprehensive price analysis of the XRP token. Despite peaking in 2023, when the price reached a high of $0.9376 on July 13, the token has retraced more than 15% since the start of 2024 to a current trading price of $0.5299.

However, according to EGRAG, the 21 Exponential Moving Average (EMA) on the monthly time frame is a significant indicator for assessing XRP’s price movement. 

The analysis focuses on three price levels: $3.5, $6.5, and $27. Based on previous instances (labeled A, B, and C), EGRAG extrapolates potential future price movements using the same percentage increases observed in the past.

XRP ETF

The first potential scenario is a significant price surge to $27, representing a massive 4500% increase. This prediction is based on a similar percentage move observed in the past (from previous instance A), seen in the chart above. 

The second scenario suggests a more conservative projection, with XRP potentially experiencing a solid 1000% increase to $6.5. This projection is based on historical patterns observed in previous instance B. 

In the third scenario, EGRAG anticipates a significant 500% rise in XRP’s price, reaching $3.5. Based on previous instance C, this projection indicates a significant upward movement for the token. 

Whether the XRP token can successfully surpass the upper resistance levels that have impeded its rise to the $0.600 mark since late December remains to be seen. 

Additionally, the market eagerly awaits a catalyst that could prompt a breakthrough in XRP’s seven-month downtrend structure, potentially resulting in a price surge above $0.700.

XRP ETF

Featured image from Shutterstock, chart from TradingView.com

Posted on

Key Requirements For Spot XRP ETF Approval Revealed Amidst 4500% Price Surge Target

Following Bitcoin’s spot exchange-traded fund (ETF) approval on January 11, market speculation has grown around the possibility of similar investment vehicles for major cryptocurrencies, including a spot XRP ETF. However, certain requirements and regulatory considerations must be met before such a development can occur.

Regulatory Prerequisites For Spot XRP ETF

FOX reporter Eleanor Terret clarifies the matter, stating that launching an XRP spot ETF would first require the establishment of a futures ETF. 

In the case of Bitcoin, the approval of spot ETFs was conditional upon the Securities and Exchange Commission (SEC) concluding that the Chicago Mercantile Exchange (CME) Bitcoin futures market provided sufficient surveillance against fraud and manipulation. 

Terret suggests that for XRP to have a spot ETF, a futures ETF must first be established, marking a step in the right direction.

Bloomberg ETF expert James Seyffart shares a similar sentiment, stating that he does not anticipate an XRP ETF launching this year. Seyffart cites the ongoing SEC case against Ripple as a factor influencing his stance, suggesting that an XRP ETF is more likely to emerge once the regulatory matter is resolved. 

Seyffart adds that XRP futures trading on a regulated platform like the Chicago Mercantile Exchange would be a prerequisite for the SEC to consider any applications for a spot XRP ETF. Seyffart hints that an XRP futures ETF could also be advantageous in this context.

The SEC has maintained a cautious approach towards spot ETFs involving crypto assets due to concerns about potential market manipulation. Seyffart emphasizes that the availability of XRP futures trading on a regulated platform, such as the CME, would provide a favorable framework for the SEC’s consideration of a spot XRP ETF, especially given previous court rulings highlighting the correlation between futures and spot markets.

Amidst the ongoing speculation, blockchain firm Ripple seems to be preparing for potential involvement in the ETF space. 

A recent job advertisement posted on Ripple’s website reveals their search for a Senior Manager in business Development, with a focus on institutional decentralized finance (DeFi). The role includes spearheading cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.

XRP’s Future Potential – From $0.5299 To $27?

Crypto market analyst EGRAG crypto has conducted a comprehensive price analysis of the XRP token. Despite peaking in 2023, when the price reached a high of $0.9376 on July 13, the token has retraced more than 15% since the start of 2024 to a current trading price of $0.5299.

However, according to EGRAG, the 21 Exponential Moving Average (EMA) on the monthly time frame is a significant indicator for assessing XRP’s price movement. 

The analysis focuses on three price levels: $3.5, $6.5, and $27. Based on previous instances (labeled A, B, and C), EGRAG extrapolates potential future price movements using the same percentage increases observed in the past.

XRP ETF

The first potential scenario is a significant price surge to $27, representing a massive 4500% increase. This prediction is based on a similar percentage move observed in the past (from previous instance A), seen in the chart above. 

The second scenario suggests a more conservative projection, with XRP potentially experiencing a solid 1000% increase to $6.5. This projection is based on historical patterns observed in previous instance B. 

In the third scenario, EGRAG anticipates a significant 500% rise in XRP’s price, reaching $3.5. Based on previous instance C, this projection indicates a significant upward movement for the token. 

Whether the XRP token can successfully surpass the upper resistance levels that have impeded its rise to the $0.600 mark since late December remains to be seen. 

Additionally, the market eagerly awaits a catalyst that could prompt a breakthrough in XRP’s seven-month downtrend structure, potentially resulting in a price surge above $0.700.

XRP ETF

Featured image from Shutterstock, chart from TradingView.com

Posted on

Institutional Inflows Into XRP Surges 244% Amid ETF Speculation

XRP has reacted positively since the launch of spot Bitcoin ETFs in the US, both in its price and general market sentiment. At the same time, recent data from CoinShares on the weekly inflow into digital asset funds reveal that the positive sentiment flowed into XRP-based investment products, with institutional investors increasing interest amid speculations of whether a spot XRP ETF might soon hit the market. As a result, weekly net inflows into XRP jumped 244% last week, registering a total of $2.2 million.  

Institutional Investors Look To XRP Amid Crypto ETF Hopes

According to various reports, particularly one from on-chain analytics platform Santiment, social media mentions and popularity of XRP increased alongside Ethereum in the days after the SEC gave the green light on spot Bitcoin ETFs. 

This isn’t surprising, as the approval of these ETFs signalled a change in the crypto investment landscape, leaving investors wondering whether we might see the US regulator approving an XRP spot ETF soon. For instance, Valkyrie’s Chief Investment Officer, Steve McClurg, noted that an XRP ETF could also be approved in the near future.

According to CoinShares data, the speculation led to the crypto receiving a net inflow of $2.2 million last week, a dramatic 244% jump from $0.9 million recorded in the week before. Notably, this inflow is significantly more than the one recorded in the days following Ripple’s partial victory against the SEC in court.

Consequently, this year’s total inflow into XRP-based products now sits behind only Cardano and Ethereum among altcoins.  

XRP price chart from Tradingview.com

Inflow Into Asset Funds Post Bitcoin ETF Fail To Break Record

 Digital asset funds recorded an enormous inflow of $1.18 billion last week. While this number represented a spike of 680% from the $151 million registered in the week before, it failed to break the $1.5 billion record set at the launch of the futures-based Bitcoin ETFs in October 2021. On the other hand, trading volume was $17.5 billion last week, the highest weekly volume on record. 

As expected, the majority of last week’s inflow went to Bitcoin-based funds, with $1.14 billion. However, Bitcoin’s price has failed to meet expectations after spot Bitcoin ETFs hit the market. At the time of writing, the crypto is trading at $42,847 and is posting an 8% decline in a 7-day timeframe. 

Ethereum came in second place with $25.47 million in inflows last week. In terms of geographical location, the United States dominated, seeing $1.24 billion of inflows last week, while Switzerland followed with a $21 million inflow. 

Posted on

Institutional Inflows Into XRP Surges 244% Amid ETF Speculation

XRP has reacted positively since the launch of spot Bitcoin ETFs in the US, both in its price and general market sentiment. At the same time, recent data from CoinShares on the weekly inflow into digital asset funds reveal that the positive sentiment flowed into XRP-based investment products, with institutional investors increasing interest amid speculations of whether a spot XRP ETF might soon hit the market. As a result, weekly net inflows into XRP jumped 244% last week, registering a total of $2.2 million.  

Institutional Investors Look To XRP Amid Crypto ETF Hopes

According to various reports, particularly one from on-chain analytics platform Santiment, social media mentions and popularity of XRP increased alongside Ethereum in the days after the SEC gave the green light on spot Bitcoin ETFs. 

This isn’t surprising, as the approval of these ETFs signalled a change in the crypto investment landscape, leaving investors wondering whether we might see the US regulator approving an XRP spot ETF soon. For instance, Valkyrie’s Chief Investment Officer, Steve McClurg, noted that an XRP ETF could also be approved in the near future.

According to CoinShares data, the speculation led to the crypto receiving a net inflow of $2.2 million last week, a dramatic 244% jump from $0.9 million recorded in the week before. Notably, this inflow is significantly more than the one recorded in the days following Ripple’s partial victory against the SEC in court.

Consequently, this year’s total inflow into XRP-based products now sits behind only Cardano and Ethereum among altcoins.  

XRP price chart from Tradingview.com

Inflow Into Asset Funds Post Bitcoin ETF Fail To Break Record

 Digital asset funds recorded an enormous inflow of $1.18 billion last week. While this number represented a spike of 680% from the $151 million registered in the week before, it failed to break the $1.5 billion record set at the launch of the futures-based Bitcoin ETFs in October 2021. On the other hand, trading volume was $17.5 billion last week, the highest weekly volume on record. 

As expected, the majority of last week’s inflow went to Bitcoin-based funds, with $1.14 billion. However, Bitcoin’s price has failed to meet expectations after spot Bitcoin ETFs hit the market. At the time of writing, the crypto is trading at $42,847 and is posting an 8% decline in a 7-day timeframe. 

Ethereum came in second place with $25.47 million in inflows last week. In terms of geographical location, the United States dominated, seeing $1.24 billion of inflows last week, while Switzerland followed with a $21 million inflow. 

Posted on

XRP Whales Make Big Moves Amid Market Volatility

XRP Whales are causing a stir in the XRP community as holders speculate on what could be the reason for their latest moves. On-chain data shows that these whales have moved a significant portion of their holdings in the last 24 hours.  

Over 63 Million XRP Tokens Moved

Data from Whale Alert shows that two significant XRP transactions have occurred recently. The first was a transfer of 26,400,000 XRP from an unknown wallet to the crypto exchange Bitstamp. The second was a transfer of 36,964,930 XRP from the crypto exchange MEXC to an unknown wallet. 

It is normal for transactions of such magnitude to raise eyebrows, considering the impact that they could have on XRP’s price. Specifically, such transfers to centralized exchanges usually suggest that the whale could be looking to dump the crypto tokens on retail investors. If so, that could potentially lead to a significant decline in the altcoin’s price. 

In this case, it is, however, worth mentioning that the first transaction in question happens to be a recurrent one, as huge sums of XRP tokens have been reported on a couple of occasions to have moved from that same wallet to Bitstamp. 

These transactions are believed to occur as a result of Ripple’s strategic partnership with the crypto exchange, with the latter using the crypto firm’s payment services. Meanwhile, the nature of the second transaction also allays fears of an impending sell-off. This is because the tokens were sent from the MEXC to an unknown wallet and not the other way around. 

As such, it is more likely to be a whale who is moving their XRP holdings to cold storage. This is more plausible, considering that these whales may soon see huge gains based on recent price predictions. 

XRP price chart from Tradingview.com

Why Price Could Rise To Over A Dollar Soon

Crypto analyst Ali Martinez recently offered a bullish narrative for the token’s price. He noted how the governing pattern behind the crypto token’s price action since June 2022 looks to be an ascending parallel channel. If this pattern continues, XRP could rise to between $0.80 and $1.10, the analyst hinted. Those price levels are the channel’s middle and upper boundaries. 

In a subsequent X post, the analyst also suggested that now may be a good time for those looking to get in on the token. He stated that the weighted market sentiment for XRP had dipped to its lowest negative point since mid-May 2023. Moments like this can “present unique opportunities in the market,” Martinez claims.  

At the time of writing, XRP is trading at around $0.56, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

Posted on

XRP Price Projection: Analyst Envisions Potential 50X Surge To $14, Here’s Why

Since the beginning of December, the XRP price has been range-bound between $0.5762 and $0.6565, lagging behind other altcoins that have seen significant gains due to increased market capital inflows. 

However, recent developments surrounding the potential rejection of Bitcoin exchange-traded fund (ETF) applications by the US Securities and Exchange Commission (SEC) have added to market uncertainty and triggered a 10% drop in the XRP price, pushing it toward the $0.500 level.

XRP Price Legal Catalyst 

Despite these challenges, a significant catalyst could potentially propel XRP to new heights—the ongoing legal clash between Ripple Labs and the SEC regarding XRP sales. 

Crypto analyst Egrag Crypto has expressed optimism, stating that a 40X or even 50X boom is possible for XRP, citing the impressive performance of the cryptocurrency in the previous cycle despite the SEC lawsuit. Egrag Crypto stated:

Last cycle, despite the pesky SEC lawsuit, XRP surged almost 20X. This time, with its unparalleled legal regulatory clarity, the potential for a 40X or even 50X boom seems promising

By the numbers, according to Egrag Crypto’s analysis, at its cycle low of $0.28, a 40X surge could potentially push the price to around $11. 

Taking it further, a 50X leap might see XRP soar to around $14. To put this into perspective, Egrag, compared with Ethereum’s (ETH) previous cycle multiplier of 58X, XRP at $0.28 could reach an astounding $16. 

While XRP’s future holds promise, the Ripple vs. SEC lawsuit remains a focal point for investors. Understanding the key dates in the legal proceedings is crucial. Here is a breakdown of the upcoming milestones:

Key Dates Revealed For Ripple-SEC Legal Battle In 2024

12th February 2024: Remedies briefing begins: Ripple and the SEC will present their respective arguments and proposals regarding potential remedies for the legal dispute on this date. This briefing will provide insights into the parties’ positions and suggested resolutions.

13th March 2024: SEC files remedies brief: Following the remedies brief, the SEC will submit a remedies brief outlining their proposed solutions to address the alleged violations committed by Ripple. This filing will further clarify the SEC’s stance and the actions they seek against Ripple.

12th April 2024: Ripple submits opposition: Ripple will have an opportunity to present their opposition to the SEC’s proposed remedies. They will outline their arguments against the SEC’s allegations and offer counterarguments and alternative solutions. 

29th April 2024: SEC replies: The SEC will be able to respond to Ripple’s opposition. They will address Ripple’s arguments and provide additional justification for their proposed remedies.

XRP price

Currently, the XRP price has recovered slightly to the $0.5715 level, with an eye on these key dates that could shape the future, the legal denomination of the token, and its impact on the future price action. 

Featured image from Shutterstock, chart from TradingView.com 

Posted on

Crypto Analyst Predicts XRP Price Will Hit $1.33 ‘Pretty Fast’

The XRP community will no doubt be buoyed by this recent analysis of an early Bitcoin investor who predicts that the XRP price could see a swift move to the upside soon enough. The crypto analyst also seemed to have taken a position in the crypto token in anticipation of this upward move. 

XRP Price To Hit $1.33

In a video posted on his YouTube channel, Davinci Jeremie mentioned that XRP is going to see another pump, which will see it move to “$1.33 pretty fast.” Once that happens, he foresees the token retracing to $1 and consolidating there for some time. What is interesting is the fact that Jeremie suggested that this pump will be manipulated.

This is interesting because of XRP’s tepid price movement for some time now and the fact that many continue to say that XRP’s price is suppressed. The crypto analyst further stated that this price manipulation is what happens “every single time.” He alluded to the fact that the XRP price always pumps out of nowhere and without any logical explanation for such a rally. 

Meanwhile, Jeremie also highlighted fundamentals that are bullish for the XRP price. This includes Ripple’s major wins in the regulatory environment like the victories against the Securities and Exchange Commission (SEC). Ripple also gained major approvals in Singapore and Dubai this year. 

XRP price chart from Tradingview.com

Bitcoin Could Be Headed To $47,000

Jeremie also commented on Bitcoin and its future trajectory. Analyzing the charts, he stated that he expects Bitcoin to hit $47,000 if it stays above the support level of $43,700 but has so far failed to happen, considering that Bitcoin is currently trading below that price level.

The crypto analyst also took a look at the Ethereum chart and mentioned that it wasn’t bullish, considering that it failed to stay above support levels that he considered bullish. He further questioned the possibility of Ethereum bringing Bitcoin down with it. However, many will feel confident in that not happening, considering that Bitcoin has mostly led altcoins and not the other way around.  

Meanwhile, Jeremie predicts Bitcoin will see a “Santa Claus rally” before things possibly cool off. Historically, Bitcoin is known to see some gains between Christmas and the new year. It remains to be seen what impact the potential approval of a Spot Bitcoin ETF in January could have on Bitcoin’s price.

Some predict that Bitcoin’s price will likely decline once that happens while others project that it would further spark a surge in the crypto token’s price. Crypto financial services firm Matrixport, in particular, stated that Bitcoin will rise to $50,000 on the back of this development. 

Posted on

Crypto Analyst Predicts XRP Price Will Hit $1.33 ‘Pretty Fast’

The XRP community will no doubt be buoyed by this recent analysis of an early Bitcoin investor who predicts that the XRP price could see a swift move to the upside soon enough. The crypto analyst also seemed to have taken a position in the crypto token in anticipation of this upward move. 

XRP Price To Hit $1.33

In a video posted on his YouTube channel, Davinci Jeremie mentioned that XRP is going to see another pump, which will see it move to “$1.33 pretty fast.” Once that happens, he foresees the token retracing to $1 and consolidating there for some time. What is interesting is the fact that Jeremie suggested that this pump will be manipulated.

This is interesting because of XRP’s tepid price movement for some time now and the fact that many continue to say that XRP’s price is suppressed. The crypto analyst further stated that this price manipulation is what happens “every single time.” He alluded to the fact that the XRP price always pumps out of nowhere and without any logical explanation for such a rally. 

Meanwhile, Jeremie also highlighted fundamentals that are bullish for the XRP price. This includes Ripple’s major wins in the regulatory environment like the victories against the Securities and Exchange Commission (SEC). Ripple also gained major approvals in Singapore and Dubai this year. 

XRP price chart from Tradingview.com

Bitcoin Could Be Headed To $47,000

Jeremie also commented on Bitcoin and its future trajectory. Analyzing the charts, he stated that he expects Bitcoin to hit $47,000 if it stays above the support level of $43,700 but has so far failed to happen, considering that Bitcoin is currently trading below that price level.

The crypto analyst also took a look at the Ethereum chart and mentioned that it wasn’t bullish, considering that it failed to stay above support levels that he considered bullish. He further questioned the possibility of Ethereum bringing Bitcoin down with it. However, many will feel confident in that not happening, considering that Bitcoin has mostly led altcoins and not the other way around.  

Meanwhile, Jeremie predicts Bitcoin will see a “Santa Claus rally” before things possibly cool off. Historically, Bitcoin is known to see some gains between Christmas and the new year. It remains to be seen what impact the potential approval of a Spot Bitcoin ETF in January could have on Bitcoin’s price.

Some predict that Bitcoin’s price will likely decline once that happens while others project that it would further spark a surge in the crypto token’s price. Crypto financial services firm Matrixport, in particular, stated that Bitcoin will rise to $50,000 on the back of this development. 

Posted on

Former Director Says Ripple Can Burn 40 Billion XRP In Escrow, How Will This Affect Price?

The possibility of Ripple ‘burning’ its escrowed XRP funds has come up for discussion. This development could become a major talking point as the XRP community continues to clamor about XRP’s tepid price action. 

Can Ripple Burn Its Escrowed XRP Funds?

In a post on his X (formerly Twitter) platform, former Ripple Director Matt Hamilton suggested a way in which Ripple could potentially ‘burn’ its XRP holdings in escrow lockups. He stated that Ripple could disable the master key on the destination account, which usually receives these escrow funds. 

Hamilton believes that this achieves the same purpose for which tokens are burned, considering that they become inaccessible to anyone when they are released from escrow. His statement formed part of a larger discussion among some members of the XRP community on what to do with the escrowed funds if there was a need to get rid of them. 

Crypto sleuth Mr. Huber had also weighed in on the discussion as he stated that Ripple can’t burn these escrowed funds as the decision isn’t theirs to make. Ripple will apparently need the approval of validators on the XRP Ledger before they can make such a move. 

From the discussion, one could see that they were alluding to the escrowed funds possibly being encoded on the XRP Ledger. As such, Ripple will need the permission of these validators to alter the code and burn those funds. However, Hamilton’s comment was more focused on Ripple burning these funds by simply disabling access to the destination account. 

XRP price chart from Tradingview.com

Ripple Burning Escrowed Funds And Its Significance

Ripple burning their escrowed funds is something that could easily pique the interest of the XRP community. This is true, especially considering recent talks about Ripple deliberately suppressing XRP’s price. As such, there could be shouts for Ripple to burn some of these tokens to show its commitment to XRP’s growth.

However, from all indications, this isn’t a straightforward process, and there is no guarantee that it will affect XRP’s price. At some point in the discussion, XRP YouTuber Moon Lambo alluded to the fact that Ripple’s XRP holdings aren’t part of those in the open market. It has also been reported that Ripple’s XRP transactions do not impact prices on crypto exchanges. 

Therefore, there is the likelihood that Ripple burning their XRP holdings (the escrowed funds in particular) might not impact XRP’s price on the open market. Ripple probably knows this, and that is why they haven’t made such a move. Instead, to provide stability to XRP, they return most of their unlocked tokens to escrow. 

Posted on

Former Director Says Ripple Can Burn 40 Billion XRP In Escrow, How Will This Affect Price?

The possibility of Ripple ‘burning’ its escrowed XRP funds has come up for discussion. This development could become a major talking point as the XRP community continues to clamor about XRP’s tepid price action. 

Can Ripple Burn Its Escrowed XRP Funds?

In a post on his X (formerly Twitter) platform, former Ripple Director Matt Hamilton suggested a way in which Ripple could potentially ‘burn’ its XRP holdings in escrow lockups. He stated that Ripple could disable the master key on the destination account, which usually receives these escrow funds. 

Hamilton believes that this achieves the same purpose for which tokens are burned, considering that they become inaccessible to anyone when they are released from escrow. His statement formed part of a larger discussion among some members of the XRP community on what to do with the escrowed funds if there was a need to get rid of them. 

Crypto sleuth Mr. Huber had also weighed in on the discussion as he stated that Ripple can’t burn these escrowed funds as the decision isn’t theirs to make. Ripple will apparently need the approval of validators on the XRP Ledger before they can make such a move. 

From the discussion, one could see that they were alluding to the escrowed funds possibly being encoded on the XRP Ledger. As such, Ripple will need the permission of these validators to alter the code and burn those funds. However, Hamilton’s comment was more focused on Ripple burning these funds by simply disabling access to the destination account. 

XRP price chart from Tradingview.com

Ripple Burning Escrowed Funds And Its Significance

Ripple burning their escrowed funds is something that could easily pique the interest of the XRP community. This is true, especially considering recent talks about Ripple deliberately suppressing XRP’s price. As such, there could be shouts for Ripple to burn some of these tokens to show its commitment to XRP’s growth.

However, from all indications, this isn’t a straightforward process, and there is no guarantee that it will affect XRP’s price. At some point in the discussion, XRP YouTuber Moon Lambo alluded to the fact that Ripple’s XRP holdings aren’t part of those in the open market. It has also been reported that Ripple’s XRP transactions do not impact prices on crypto exchanges. 

Therefore, there is the likelihood that Ripple burning their XRP holdings (the escrowed funds in particular) might not impact XRP’s price on the open market. Ripple probably knows this, and that is why they haven’t made such a move. Instead, to provide stability to XRP, they return most of their unlocked tokens to escrow. 

Posted on

XRP Price Forecast: Wave 5 Signals Impending Supercharged Growth To $13 By 2024

XRP price has recently demonstrated a sideways price action, deviating from the overall trend witnessed across the cryptocurrency market and altcoins. 

Despite a modest 2% growth in the past 30 days, with prices ranging between $0.6427 and $0.5994, a crypto analyst operating under the pseudonym James Crypto has made a bold prediction based on Elliott Wave Theory’s interpretation of XRP’s monthly chart. 

Grand 5th Wave And Potential Rally For XRP Price

James Crypto points to an intriguing possibility of XRP price entering a grand 5th wave, drawing attention to the extended durations of Wave 1 and Wave 3. 

The Elliott Wave Theory, developed by Ralph Nelson Elliott in the 1930s, is a technical analysis tool widely used to forecast future price movements in financial markets. 

The theory suggests that price movements unfold in recurring wave patterns, which can provide insights into potential future trends. 

According to the theory, a complete market cycle consists of five waves, with three impulse waves (1, 3, and 5) and two corrective waves (2 and 4). The fifth and final wave is often associated with a significant price surge before a potential reversal or consolidation.

XRP Price

James Crypto’s analysis focuses on XRP’s monthly chart, which provides a broader perspective on the asset’s price movements. 

The extended duration of Wave 1 (20 weeks) and Wave 3 (spanning over 40 weeks) caught the analyst’s attention. By extrapolating this trend, the theory suggests the possibility of a 60-week Wave 5, which could mark a substantial price rally for XRP.

Should XRP price follow the projected Elliott Wave pattern, James Crypto’s forecast points to a supercycle top expected to occur in March to April 2024. The target price range for XRP during this period is estimated to be between $5 and $13. 

Struggles Amidst Price Declines

Trading at $0.6147, XRP has experienced a decline of 0.5%, 1.4%, and 4.3% over the past 24 hours, seven days, and fourteen days, respectively. These downward trends highlight the token’s current lack of bullish momentum and catalyst.

XRP Price

CoinGlass’ liquidation heatmap indicates a critical juncture for XRP’s price, as significant leveraged positions exist on both sides of the market. The heatmap reveals notable liquidations at the $0.6284 and $0.6347 levels, with the largest amount observed at $0.5960 over the past three days.

Considering these developments, XRP may initially break through the long liquidation level before experiencing another upward movement to bolster much-needed bullish momentum. 

However, given the unpredictable nature of volatility and price actions, a short squeeze could potentially occur first, temporarily driving the XRP price above its nearest resistance levels.

The outcome remains uncertain as to which side will yield first and what additional catalysts may contribute to a price surge for XRP, aligning it with the overall market trend of gains as we approach the end of the year.

XRP Price

Featured image from Shutterstock, chart from TradingView.com 

Posted on

Crypto Analyst Says Ignore FUD, XRP Is Headed To $5.85

Crypto analyst Dark Defender has also weighed in on the recent narratives revolving around the XRP tepid price action. The analyst is choosing not to listen to any of those as he is confident that the future trajectory of the XRP token is bullish. 

No Need To Listen To FUD

In a post on his X (formerly Twitter) platform, Dark Defender mentioned that he doesn’t listen to the FUD (Fear, uncertainty, and doubt). He also seemed to be urging the XRP community to ignore the FUD as he stated that the token is still proceeding according to “our plan” based on the weekly time frame. 

XRP 1Source: X

He alluded back to several comments and analyses he had made about XRP’s price action. One of them was on June 4, when he had set Wave 1 on the charts to $0.89. On June 21, he also detailed the target levels that XRP could attain. Meanwhile, he had set the limit for Wave 2 to $0.46 and Wave 3 to $1.88 on September 13. 

Dark Defender noted that nothing has changed since then, as the targets “were and are the same.” The crypto analyst was basically suggesting that there was no need to be worried about XRP’s price action as everything was going according to plan from a technical analysis perspective.  

XRP Still Headed To $5.85

As to XRP’s future trajectory, Dark Defender reaffirmed that the upcoming target is still $1.88 and $5.85 based on the Elliot Waves, which he had highlighted months back. From the accompanying chart that he shared, Dark Defender focused more on the $5.85 price level. 

XRP 2Source: X

He is confident in XRP hitting that price because he foresees the token touching the “261.80% Fibonacci Level at $5.85.” It won’t, however, be up from $1.88 as the crypto analyst predicts that there will be a correction from that price level. 

Going by Dark Defender’s past price predictions, $5.85 won’t be the peak, as one can still expect upward price movement. The crypto analyst had previously mentioned that XRP would hit $18 soon enough. He noted then that XRP was likely going to face a strong resistance at $1.08. However, he projects that it will be “kaboom” once XRP is able to break from that level. 

In the meantime, many will be hoping that XRP can at least experience a significant rally to end the year. At the time of writing, XRP is trading around $0.61, up over 1% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

Posted on

Crypto Analyst Predicts XRP 1,500% Move Against Bitcoin, What Are The Terms?

Crypto analyst CryptoInsightUk has once again given his projections as to the future trajectory of the XRP price. This time, the analyst predicts that the crypto token could enjoy unprecedented against the flagship cryptocurrency, Bitcoin. However, there is a caveat for this to materialize. 

How XRP Could Gain 1500% Against Bitcoin

In a post shared on his X (formerly Twitter) platform, CryptoInsightUk said that XRP could see a move up to 1500% against Bitcoin. This, he stated, will happen if the crypto token could break and hold above the top grey box in the accompanying chart he shared. However, even if that doesn’t happen, he still expects XRP to make significant gains against Bitcoin.

XRP Price

He had earlier laid out another scenario where XRP makes an 88% move against Bitcoin. The crypto analyst seemed more confident in this happening as he mentioned that it looks like it is just a “matter of time” before this move-up happens. Many will, however, be hoping that the move of 1500% also actualizes at some point. 

CrytoInsightUK happens to be one of those who are very bullish on XRP’s future trajectory. The crypto analyst had previously suggested that XRP could recapture the 61,000% gain it saw back in 2017. He highlighted how the token was in a better place and had a lot of potential. He also alluded to how the token is in a “unique position” considering that it has gained legal clarity.

XRP price chart from Tradingview.com

Stronger Than Bitcoin

Crypto analyst Egrag Crypto recently asserted that XRP is stronger than BTC. He made this statement in relation to the fact that XRP is trading at a higher price level now, with Bitcoin currently trading at around $42,000, than when the flagship cryptocurrency was trading at this same level two years ago. XRP is said to be trading at 0.00000637 BTC back then.

According to Egrag, XRP’s 129% gain against Bitcoin highlights the former’s strength. It also cements “XRP’s dominance” in the market cycle. Meanwhile, the crypto analyst once again called for patience from the XRP community as he says that XRP hitting between $1.3 and $1.5 is on the horizon. 

The bullish price predictions keep flowing in as the bull market draws near. Patrick Riley, the founder of Reaper Financial, also recently stated that XRP will hit $22 at the peak of the next bull run. Interestingly, he even went on to assert that the crypto token will surpass Bitcoin at some point. 

At the time of writing, XRP is trading at around $0.61, up almost 1% in the last 24 hours, according to data from CoinMarketCap. 

Posted on

Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6

Crypto analyst CryptoInsightUK has shared his bullish sentiment on the XRP price. He noted that something may be brewing for the token and its ecosystem. Interestingly, he agrees that XRP could rise as high as $9.6.

XRP Price Could Replicate 2017 Impulse

In a post shared on his X (formerly Twitter) platform, CryptoInsightUK shared a monthly XRP/BTC chart. He noted that XRP’s largest impulse against BTC was around 5,200%, which occurred back in 2017. Analyzing the chart that he shared, he suggested that a similar setup to that time was building up.

This time, XRP could see higher gains against BTC as CryptoInsightUK stated that the XRP is holding a higher floor. He also mentioned that the technical structure is more bullish after a longer consolidation. Besides these indicators, he highlighted the Relative Strength Index (RSI), which is grinding upwards.

With all this in mind, the crypto analyst believes that “something is coming” for the XRP token. CryptoInsightUK seemed very careful not to provide any projections on how much the XRP token could rally or what price action to expect when this happens. 

However, another prominent crypto analyst, Egrag Crypto, provided an insight into what price action CryptoInsightUk may have in mind. In response to the main post, Egrag replied and stated that XRP could hit between $9.6 and $10 this time around. CryptoInsightUK responded and stated that Egrag’s prediction is “perfect for the range.”

XRP price chart from Tradingview.com (Crypto analyst Bitcoin)

XRP’s Success Hinged On Bitcoin’s?

CryptoInsightUK shared some further thoughts when quizzed by another X user if the community may see any XRP price action this year. He suggested that any XRP rally was dependent on Bitcoin’s move as XRP goes higher whenever Bitcoin does so. As such, he is cheering Bitcoin on right now so that there can also be some price action from XRP. 

As to when to expect this rally from XRP, he isn’t certain, as he stated that finding the starting point is hard. That is why the analyst is just comfortable with holding and waiting with his XRP bags. Despite the uncertainty, the crypto analyst seems to be one of those who is very bullish on the XRP token. 

Another prominent figure in the XRP community, Rob Art, also shared similar sentiments with CryptoInisghtUK. He suggested that XRP cannot make a new all-time high (ATH) without Bitcoin doing so in the same cycle. As such, he believes that XRP can only fly when Bitcoin does so, too. 

At the time of writing, XRP is trading at around $0.60, down almost 1% in the last 24 hours, according to data from CoinMarketCap. 

Posted on

Ripple IPO May Be Delayed, Crypto Pundit Gives Reasons Why

Crypto Pundit, Dushyant Shahrawat has suggested that the decline in the global financial technology companies may result in a delay in the highly anticipated Ripple IPO. 

FinTech Challenges May Push Back Ripple IPO Timeline

An XRP community member, Crypto Eri has shared details about Ripple IPO’s timeline in a post on X (formerly Twitter). The X post briefly shed light on a recent interview on NASDAQ Trade Talks, between global markets Reporter, Jill Malandrino and investment banker at Rosenblatt Securities, Dushyant Shahrawat.

When asked about his views on the current state of the financial technology industry, Shahrawat emphasized the declining performance of some major fintech companies. He mentioned companies like Block which had experienced major declines this year and saw its shares dropping more than 80% from its all-time high.

Shahrawat has stated that the underperformance of these fintech companies could result in a delay for cryptocurrencies scheduled to go public. He mentioned prominent names like Circle and Ripple, which had declared its intentions to initiate an IPO by 2024. 

“You can walk the hallways here, you’ve got Circle, Ripple, all the private fintech companies, unicorns, that were waiting in the wings to go public. That time frame (to IPO) got pushed back a little bit, quite a bit,” Shahrawat stated in the interview. 

Despite financial specialists predicting an early 2024 launch for the Ripple IPO, Shahrawat has hinted that a minor delay might be in store, at least until the bearish trend in the fintech sector shows signs of recovery. 

IPO Delay Amidst Regulatory Actions

A blockchain researcher and XRP community member, Collin Brown has also highlighted reasons contributing to Ripple’s IPO delay. Brown has disclosed that the present market conditions and the intensified regulatory scrutiny on Binance are the driving forces behind the postponement of Ripple’s IPO. 

“The Ripple IPO is being delayed due to market circumstances, as well as the need for the SEC and BlackRock to crack down on Binance. Now that the path is clear, they will likely prepare for another correction. This will allow Wall Street giants to buy Bitcoin and XRP at lower prices,” Brown said. 

The researcher has also stated that the price of XRP could be pushed toward $50 soon. This prediction is based on the potential approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). 

“Former NYSE President believes a Bitcoin ETF will attract a flood of money into the industry. Easier access to BTC will likely drive adoption and investment. Once the bitcoin ETF is approved, the XRP ETF will follow suit, pushing the price to $50 per XRP,” Brown said.

XRP price chart from Tradingview.com (Ripple IPO)

Posted on

Ripple Integration With ISDA Ushers In $1.2 Quadrillion Market, Can XRP Breach $100?

XRP, the native token of Ripple, is poised to take part in a $1.2 quadrillion derivatives market following Ripple’s integration into the ranks of the ISDA ushers. 

XRP To Enter The $1.2 Quadrillion Derivatives Market

Earlier in August 2023, Ripple, a crypto payments solution, announced its membership with the International Swaps and Derivatives Association (ISDA). The strategic move came as a pleasant surprise to XRP community members, as it positioned XRP to fully partake in the massive $1.2 quadrillion derivatives market. 

Ripple’s entry into this prestigious club is seen as a significant milestone, allowing the crypto payments company to stand alongside financial giants such as J.P Morgan, Goldman Sachs, and the London Stock Exchange.

Many XRP enthusiasts are looking forward to a bullish outlook for the XRP token. Some have even mulled over the possibility of XRP breaching the $100 threshold. These expectations are fueled by considerations that a successful performance in the derivatives market could serve as a catalyst for significant price movement in the cryptocurrency. 

Presently, the price of XRP has not shown any notable price growth, even with speculation that a Ripple IPO is imminent. Nevertheless, enthusiasts remain vigilant, closely observing the cryptocurrency for any developments that could propel its price upwards. A $100 milestone, if achieved, has the potential to further strengthen the altcoin’s position in the crypto space. 

Prediction Suggests $100 Price Increase

The potential Ripple Initial Public Offering (IPO) and the near resolution of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), have generated positive sentiment about XRP’s future price. Some analysts have predicted large-scale price increases as high as $5,000 for a single XRP token in the future.

One notable prediction by an X (formerly Twitter) influencer stated the price of the token was poised to reach $100. He used metrics from Bitcoin’s upsurge from $0.01 to $69,000 in 2021 as a basis for his prediction, highlighting the unpredictability of cryptocurrencies skyrocketing. 

There have been other recent price predictions that show XRP projecting to $10. Changelly predicts that the altcoin’s price will breach its previous all-time high by 2027, and expects that the token’s price will rise above $10 by 2030.

The price of XRP, at the time of writing, is trading at $0.595 according to CoinMarketCap. The price value is more than 83% below its all-time high of $3.84 in 2018. 

XRP price chart from Tradingview.com (Ripple)

Posted on

Global Banks Are Betting Big On XRP, Report Shows

Global banks have begun actively integrating crypto assets into their financial operations, and XRP has been one of their top preferences. This news signifies a shift in the skepticism surrounding cryptocurrencies, revealing how some of the world’s leading banks seek to leverage XRP’s fundamental strengths as a cross-border payments system. 

BCBS Highlights XRP Dominance In The Banking Sector

The Basel Committee on Bank Supervision (BCBS) has recently published its first data collection template report on banks’ holdings of crypto assets. This report gives detailed insight into the crypto exposure of global banks. 

According to the publication, 19 out of 182 world banks in the Basel III monitoring exercise have submitted their crypto asset data to the BCBS for review and analysis. Out of the 19 banks, seven banks submitted reports from Europe, 10 banks From the Americas, and two from other parts of the world. 

The data collection template revealed that the majority of banks submitted reports on crypto asset exposure, primarily featuring XRP, BTC, and ETH cryptocurrencies. 

The report stated that the total crypto asset exposures submitted by the global banks amounted to €9.4 billion (around $10 billion). Among these exposures, XRP emerged as the third-largest altcoin utilized for bank engagements. 

XRP investments comprised 2% equivalent to €188 million of the total crypto asset exposures. While Bitcoin and Ether were ranked 31% and 22% respectively. 

“Reported crypto-asset exposures are primarily composed of Bitcoin (31%), Ether (22%), and a multitude of instruments with either Bitcoin or Ether as the underlying crypto assets (25% and 10% respectively),” the report stated. 

This report underscores the growing interest of XRP in the financial banking sector. The Basel III monitoring exercise report also provides a valuable benchmark for gaining insight into the position of cryptocurrencies in the financial sector. 

XRP price chart from Tradingview.com (Global banks)

BCBS Crypto Asset Reports

In the Basel III monitoring exercise template, a collective composition of crypto asset exposures by 19 of the world banks was disclosed. The report stated that the total crypto asset exposures stand at about €9.4 billion, representing a modest fraction of the cumulative crypto-asset exposures across the 182 banks covered by the BCBS. 

Overall, the crypto asset exposures of the 19 banks constitute 0.05% of the total financial commitments made by the institutions under the Basel III monitoring exercise. 

“Total crypto-asset exposures reported by banks amount to approximately €9.4 billion. In relative terms, these exposures make up only 0.05% of total exposures on a weighted average basis across the sample of banks reporting crypto-asset exposures,” the report stated. 

It added: 

“When considering the whole sample of banks included in the Basel III monitoring exercise (i.e. also those that do not report crypto-asset exposures), the amount shrinks to 0.01% of total exposures.”

The data collection template also revealed other crypto assets employed by these world banks such as Cardano (1%), Solana (1%) Litecoin (0.4%), and Stellar (0.4%). 

Posted on

Crypto Expert Reveals One Major Reason The XRP Price Will Do Well In The Bull Run

A crypto expert has disclosed a bullish outlook for the XRP price during the upcoming bull run, highlighting XRP’s advantage over other altcoins due to its lack of ties with China’s CCP.

Crypto Influencer Predict XRP Bull Success

A crypto influencer on X (formerly Twitter) called BoringSleuth has expressed his sentiment about XRP’s potential success in the eagerly anticipated bull run. 

BoringSleuth has stated that the XRP price could stand to benefit considerably from the bull market due to its lack of affiliations with the Chinese Communist Party (CCP). He said that other cryptocurrencies like DAG which have no links with the CCP may also experience a successful bull run. 

“The protocols that weren’t in bed with the CCP will be the benefactors of future bull cycles. A protocol like DAG, which works with the DOD is one example of a well-positioned protocol. XRP is another,” BoringSleuth stated. 

Responding to BoringSleuth’s declaration, an X (formerly Twitter) user posted a screenshot stating that Ripple had deep ties with the IDG which is strongly backed by the CCP. 

“The Protocol may or may not be clear…but Ripple has deep ties to IDG, which has strong support from the CCP. IDG are also investors in Coinbase and KuCoin,” an X member, AltarofEgo stated.

Additionally, when asked by a crypto member on X what he meant by “well positioned,” BoringSleuth responded by saying that crypto companies that have no links to the CCP are strategically positioned to become the prime beneficiaries position of retail and investment cash flows in the case CCP-linked companies ever faces scrutiny. 

“If there is a crackdown on CCP-affiliated companies, then that investment and retail money will flow somewhere. The companies well positioned to get those dollars will be the ones not in bed with the CCP,” BoringSleuth stated. 

XRP price chart from Tradingview.com

XRP Price Maintains Bullish Momentum

Recently, the crypto market seems to be on a rallying trend and XRP has taken advantage of the market sentiments to push its price higher. According to a crypto analysis by ProSignalsfx on TradingView, the XRP price is on an upward trend and may continue rising. 

“RIPPLE is trading in an uptrend along the rising support line and after the retest of the said support. We will be expecting a further move up,” ProSignalsfx stated. 

According to CoinMarketCap, the price of XRP at the time of writing is $0.65 with a 24-hour trading volume of over $101 billion. The cryptocurrency’s value has recovered steadily following several partial victories during its intense legal battle with the United States Securities and Exchange Commission (SEC). 

Many investors and XRP community members are looking forward to a bullish rally for the token following the conclusion of its court case with the SEC.

Posted on

Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect

The XRP price has had a mixed flow this month in terms of price action. The crypto surged by 25% in the first week of November to cross over $0.73, marking the first cross over this price point since June. However, XRP has since lost some of these gains. The crypto is now trading at $0.6574 at the time of writing and is down by 5.04% in a 7-day timeframe. 

According to crypto analyst and enthusiast Will Taylor, known as Cryptoinsightuk on social media, this is quite normal for XRP, and price history has shown it’s only a matter of time before it catches up. 

The analyst made this known while sharing his technical analysis on X (formerly Twitter). According to him, technical indicators point to liquidity rolling into XRP very soon, and a price takeoff is expected in less than two days.

Liquidity To Rotate Into XRP

Cryptoinsightsuk has predicted a further increase for XRP in the near term, resonating with other analysts observing a positive trajectory for XRP. The asset has mostly interlinked with the wider movements within Bitcoin and Ethereum since October’s lows. It has now lagged behind, with liquidity flowing to other altcoins like Solana and Cardano.

Technical analysis using the RSI indicator shared by Cryptoinsightsuk showed that XRP recently entered overbought territory since it rose a lot in a short period of time. The analyst pointed out that the last time the asset entered the overbought territory on the RSI, it continued to rally around 36%. 

Cryptoinsightsuk thinks we’re seeing the same pattern play out now, and a blast-off is imminent in the next 24 hours. A repeat of this rally from the current price puts a price target of $0.90 for XRP. 

Technical Points To Look At For XRP Price Rally?

XRP is ready for a strong rally now that its growth is no longer suppressed by the SEC lawsuit. It has now formed support at the $0.65 level, and the first step will be to break over $0.70. The next resistance is at its yearly high of $0.80. Other bullish analyses have come in for XRP in recent days. A previous X post by Cryptoinsightsuk predicted a strong rally to $10 at least.

According to analyst ERGAG CRYPTO, XRP appears poised to reach at least $1.3 after breaking out of the current ascending triangle. Then a stronger price move to at least $5.5 dollar before retail investors start to sell off. 

There is a good possibility that XRP’s price may surge above $1 in the near future. However, this might not come to reality until a US judge finally addresses all regulatory uncertainties surrounding Ripple and XRP. The good news is that Ripple seems to have the upper hand at the moment.

XRP price chart from Tradingview.com (Crypto analyst)