Analyst Predicts XRP Price Surge to $2.3: What to Expect
The post Analyst Predicts XRP Price Surge to $2.3: What to Expect appeared on BitcoinEthereumNews.com.
Analyst Amonyx predicts XRP could soar to $2.3, based on historical price patterns and trend analysis. Whale Alert reports large XRP transfers, sparking market concerns about their potential impact. Following a robust comeback in the cryptocurrency market, including XRP, the volatility around Ripple’s coin looks to be leveling off. But, according to an analysis by prominent analyst Amonyx, there is a good probability that XRP’s price will surge based on the token’s historic moves. The previous pattern features XRP’s price becoming further constrained along the trendline between high levels produced during a corrective pattern. They will call me crazy until everything happens, but that’s okay. #XRP 🤑 pic.twitter.com/qalLq5oGTB — Amonyx (@amonbuy) August 8, 2024 XRP Price Expected to Reach $2.3 High Before Potential Correction This pattern has established new lower highs but no new lower lows, indicating that the price has reached the end of the analyst-mapped pattern. In this research, the XRP price is expected to reach a high of $2.3 before correcting again. The analyst also believes that the XRP/BTC pair might suffer a stratospheric climb, potentially hitting a new all-time high in its price trajectory. As of this writing, XRP is trading around $0.5864, down 2.84% over the last 24 hours. Furthermore, its daily trading volume has decreased by more than 30%, to $1.785 billion. This comes after a period in which investors and supporters celebrated Ripple’s victory over the SEC after the court ruled that XRP was not a security, as CNF previously reported. Furthermore, Judge Torres cut the SEC’s sought fine from $2 billion to $125 million. The judge has also barred Ripple from violating federal securities laws in the future, implying that any such offense would require a court order. On the other hand, Whale Alert reported yesterday that it discovered two significant XRP…
Filed under: News - @ August 11, 2024 1:20 pm