XRP Sets Sights on $6 Target After Impressive Weekend Rally: Thinking Crypto
The post XRP Sets Sights on $6 Target After Impressive Weekend Rally: Thinking Crypto appeared on BitcoinEthereumNews.com.
Tony Edward, the host of the Thinking Crypto Podcast, has expressed his conviction in a $6 price for XRP amid its latest comeback. Over the weekend, XRP emerged from the abyss, surprising the crypto community with an 18% price gain. Specifically, XRP’s price rose from a low of $0.4744 on Saturday to a new monthly high of $0.5636. The surge emerged after XRP plummeted to a floor price of $0.3911 just two weeks ago. Since then, it has staged a remarkable 44.1% comeback. As of press time, the asset has stabilized at $0.5324. Commenting on XRP’s weekend surge, Edward attributed the rally to the anniversary of Judge Torres’ ruling on July 13, 2023, which declared that XRP is not a security. XRP Price Prediction Amid Impressive Comeback He also referenced the analysis of “360 Trader”, a pseudonymous market watcher who believes that XRP is following a predictable cycle. According to 360 Trader, the recapture of $0.57 is a significant blow to bearish sentiments, marking a turning point in the cycle. Moreover, the analyst observed that XRP reclaimed a year-long trendline following the pump and had formed a double-bottom “bear trap.” This suggests it may have already reached its lows for this cycle, and the up-only trend may be commencing. Accordingly, the analyst proposed above $4 as XRP’s ideal target for this bull season. 🚨XRP $4+ PRICE PREDICTION! BITCOIN RECOVERY $61K, ETHEREUM ETF APPROVAL WEEK! WATCH ▶️ https://t.co/rXr2vULH0F#bitcoin #ethereum #ethereumetf #xrp #ripple #altcoins #ai #trump #donaldtrump #thinkingcrypto #crypto #cryptonews pic.twitter.com/yLw1QvYNsT — Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) July 15, 2024 XRP Could Reach $6 Notably, Edward tempered his enthusiasm by highlighting that XRP’s bullish momentum has already waned, but he remains optimistic that it is breaking upwards. He applied a Fibonacci model to XRP’s chart, using the last cycle’s highs of…
Filed under: News - @ July 16, 2024 6:06 am