The post Analyst Predicts XRP Price Surge To $8, Here’s Why appeared on BitcoinEthereumNews.com.

Crypto analyst Mikybull Crypto provided a bullish outlook for the XRP price, predicting that Ripple’s native token could rally to as high as $8 in this market cycle. The analyst also suggested that XRP could rally higher with this price target unlikely to be the top for the crypto in this bull run. Why The XRP Price Could Rally To $8 In This Cycle In an X post, Mikybull Crypto predicted that the XRP price could rip through $8 before a cycle top because of the current bullish fundamentals. Although the analyst didn’t elaborate on these bullish fundamentals, they likely include the optimism around Donald Trump’s pro-crypto administration. The current US administration undoubtedly provides a bullish outlook for XRP for several reasons. One is the fact that the US Securities and Exchange Commission (SEC) looks likely to drop its appeal against Ripple. Such development is a huge positive for XRP, given the negative impact the lawsuit has had on the crypto before now. Furthermore, CoinGape reported that Donald Trump is open to the idea of a US-based coins strategic reserve, including XRP. This is bullish for the XRP price, considering that this would lead to greater adoption for the crypto. Meanwhile, the new SEC administration is more likely to approve the pending XRP ETF applications, which is also a positive for the crypto. In line with this, more asset managers are expected to file to offer an XRP ETF soon enough. REX Shares recently filed with the SEC to offer one, bringing the total number of applications to five. A Price Surge To $3.80 Could Be Imminent Crypto analyst CasiTrades suggested that an XRP price surge to $3.8 could be imminent. She noted that the crypto already hit the major wave 4 target at $2.88. As such, the crypto analyst…

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Filed under: News - @ January 23, 2025 5:24 am