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An analyst has predicted that XRP could be breaking a crucial resistance level to hit $16 if it matches the 58X of Ethereum in the previous cycle.  This incredible run could be triggered by the potential spot XRP ETF approval; meanwhile, a Bloomberg ETF analyst expects the approval to be delayed until the legal issues surrounding its securities status are solved.  XRP makes a daring move on its 24-hour chart, printing an incredible 11% gain to extend its 90-day gain to 358%. Our market data shows that the asset was trading at $2.4 at press time as it seeks to overturn its bearish trend to make a decisive move above its all-time-high price of $3.8. Commenting on this fascinating performance, a crypto analyst identified as DonAlt posted an XRP chart and captioned it “Good chart.” Gud chart pic.twitter.com/eZReg5ERO4— DonAlt (@CryptoDonAlt) January 1, 2025 Besides the many factors that could propel the asset up the price curve, several analysts have remained optimistic for multiple months now, with EGRAG CRYPTO predicting a $16 peak price for XRP if it matches the 58x of Ethereum (ETH) in the previous cycle. If XRP matches the 21X of Bitcoin (BTC), the price could be around $5.88. Meanwhile, EGRAG CRYPTO expects XRP to make a 40X surge as a baseline. It is important to note that the current XRP price trend was predicted by an analyst called Dark Defender on January 1. According to his post, the asset was on the verge of completing a correction pattern on the weekly chart. We conducted a detailed analysis on Patreon and addressed a structure on 9-Dec-24, stating that XRP will follow a corrective pattern. XRP followed the same path we discussed. It might be risky to say that, but I expect XRP to break this triangle within a…

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Filed under: News - @ January 3, 2025 1:20 am