Crypto Pundit Predicts That XRP Price Will Rise “Dramatically,” Here’s When
December 13 2023 - 12:00PM
NEWSBTC
Crypto analyst Austin Hilton is the latest to give his opinion on
the future trajectory of the XRP price going forward. Specifically,
Hilton noted two events that will spur XRP’s price to go up
“dramatically.” The analyst also outlined other metrics that
present a bullish sentiment for the XRP ecosystem. Major
Events That Will Cause XRP Price To Rise In a video shared on his
YouTube Channel, Hilton singled out the approval of Spot Bitcoin
ETFs and the upcoming Bitcoin Halving as the two events that will
cause XRP’s price to go up “dramatically.” He mentioned that the
XRP price could rise to over $1.50 when the SEC approves these
funds. Related Reading: Crypto Analyst Predicts Cardano Price
Will Rise 6000% To $33, Here’s The Timeline Bloomberg analysts
James Seyffart and Eric Balchunas currently predict that there is a
90% chance that a Spot BTC ETF will get approved by January 10.
Although he had his reservations about that, he seemed optimistic
that the SEC would approve these funds soon as the Commission is
“running out of reasons to say no.” Once that happens, he expects
his price prediction of $1.50 or over to materialize. He had
referred to an article where another analyst predicted that XRP
would hit this price level in March. However, he believes that it
could happen in January or February, depending on how things go.
Hilton was quick to point out the fact that these events (BTC Spot
ETF & Bitcoin Halving) do not exactly relate to XRP. However,
he stated that XRP, being a blue chip, will move up when the
overall market moves up. Major altcoins have so far been
beneficiaries of Bitcoin’s metric rise on the back of a possible
Spot BTC ETF approval. As such, that could explain Hilton’s
position on XRP’s rise. XRP bulls struggle to retain control
| Source: XRPUSD on Tradingview.com On-Chain Metrics Suggest
Bullish Sentiments For XRP The analyst also noted that on-chain
metrics suggest a bullish outlook for the XRP ecosystem. These
metrics include the number of daily transactions and wallet
addresses on the XRP Ledger. According to him, this suggests that
there is a “fair amount” of liquidity flowing into the
ecosystem. Related Reading: Shiba Inu Rally To $0.0001?
Shibarium Transaction Count Breaches 90 Million Milestone The XRP
Ledger indeed continues to record significant milestones in terms
of transactions processed on the network. Data from BitInfoCharts
also shows that XRP has been going head-to-head with Bitcoin and
Ethereum in terms of daily transactions. Despite the XRP price’s
relatively tepid movement, Hilton sounded bullish on the crypto
token as he mentioned that current price levels are a “steal”
considering the heights that XRP will attain. At the time of
writing, the XRP price is trading at around $0.60, down over 2% in
the last 24 hours, according to data from CoinMarketCap.
Featured image from TechnoPixel, chart from Tradingview.com
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