The post Ripple News: XRP Price Poised to Surge Above $1 If This Happens appeared first on Coinpedia Fintech News

With Bitcoin taking a dip recently, altcoins like XRP are gearing up for a comeback this weekend. XRP is hovering around $0.6, and analysts are eyeing a push to reach $1 by December’s end. If that happens and ETFs get approved, it could mean big gains for XRP in a market filled with fake hype and speculations. Before that here’s analyst bullish theory on XRP price despite the recent drop. 

XRP Price to hit $5 in two weeks, If this happens

Looking at the current scenario, EGRAG, a market analyst, has yet again stirred considerable buzz by boldly predicting a significant surge for XRP, estimating it might reach $5.5 within two weeks. This forecast builds upon prior analyses, identifying a crucial downward trendline XRP had consistently stayed below since 2018. When XRP broke past this line in July, it briefly soared to $0.93, fulfilling earlier projections.

Despite a subsequent dip, EGRAG is confident about XRP hitting the $5.5 mark soon. However, this ambitious forecast has sparked skepticism among the XRP community, considering the cryptocurrency’s recent lackluster performance during market rallies. Nonetheless, EGRAG remains steadfast in advocating for a long-term investment approach, dismissing short-term market fluctuations as attempts to unsettle seasoned investors.

Can XRP Break the Crucial Level?

Currently trading at $0.6314, XRP faces a challenging climb to meet the predicted $5.5 target, necessitating a whopping 771% surge. Obstacles lie ahead, particularly the $0.7528 level, posing as a significant resistance point.

Although while decoding XRP’s indicators, the Commodity Channel Index (CCI) noted a potential shift towards bullish momentum following a recent decline. Plus, XRP’s 24-hour volume has seen a 10% increase, signaling heightened market activity. Having said that, EGRAG’s bold prediction, while met with skepticism, fuels anticipation within the XRP community, marking an intriguing phase for the cryptocurrency in January 2024. 

What’s Next for XRP Price? 

XRP faces a crucial path to reclaim its position as the 3rd largest cryptocurrency. The coin’s price hinges significantly on the outcome of its legal battle with the U.S. SEC. Earlier this year, a positive ruling led to a surge in price to $0.96, affirming Ripple’s partial victory. If Ripple secures a favorable verdict during a bullish market, experts anticipate XRP could soar beyond $2.

Based on EGRAG’s past analysis, there’s a projection that XRP could surge to $27, representing a staggering 40x increase from its current value of $0.66. Such a surge might elevate Ripple’s market cap, potentially surpassing Tether (USDT) in the rankings. This signals a pivotal moment for XRP’s trajectory and its position in the crypto market.

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Filed under: Bitcoin - @ December 17, 2023 1:09 am