XRP Price Prediction: Analysts Turn Bullish As ‘Something Big Is Coming’, Here’s What
October 17 2024 - 7:00PM
NEWSBTC
Crypto analysts Amonyx and Egrag Crypto have provided a bullish
outlook for the XRP price with “something big” on the horizon.
Based on their analysis, the long-awaited price breakout for XRP
could soon happen. Something Big Is Coming For XRP Price
Crypto analyst Amonyx stated in an X post that something big is
coming for the XRP price. His accompanying chart showed that the
crypto could enjoy a massive rally to $75. The analyst made this
prediction based on XRP replicating a similar run that it enjoyed
in the 2017 bull run when its price surged by over 61,000%.
Related Reading: Bitcoin Price To $130,000 By January, Here’s The
Roadmap The chart showed that XRP consolidated for a year
before it broke out and enjoyed that unprecedented rally. In line
with this, the analyst highlighted how XRP has been consolidating
since then, suggesting another price breakout is imminent.
Amonyx has recently been more bullish on the XRP price. Before now,
he predicted that the crypto would reach between $50 and $57 at the
peak of this bull run. However, his recent prediction offers a more
bullish outlook for XRP. Interestingly, he also recently predicted
that the crypto could enjoy a “giga pump” to $400. These
bullish XRP predictions are believed to be partly because of the
recent applications by Bitwise and Canary Capital to offer an XRP
ETF. These funds could contribute to a significant rally for XRP
since they will attract more institutional investors into the
coin’s ecosystem. Therefore, these XRP ETFs will positively impact
the XRP price just like the Spot Bitcoin ETFs did for the Bitcoin
price. Meanwhile, in the short term, Amonyx also expects that
the XRP price could enjoy a significant rally. In a recent X post,
he shared an XRP/Bitcoin chart and told XRP holders that a God
candle was coming soon. XRP’s Breakout Target To Keep An Eye
On Crypto analyst Egrag Crypto highlighted $0.61 and $0.62 as the
breakout targets to keep an eye on. He noted that the breakout
point is getting lower and added that the XRP has a maximum of 70
days left before it reaches the final pinnacle of the breakout
point. Related Reading: Crypto Analyst Says Bitcoin Price Can
Port To $86,600 If It Breaks This Level Egrag Crypto further
remarked that he is convinced that the price breakout could happen
sooner than expected, within the next 15 to 30 days. According to
him, the pressure is building and won’t stay contained for much
longer. Indeed, XRP’s consolidation dates way back to the 2021 bull
run when it failed to reach a new all-time high (ATH). The $0.60
price level has also proven to be strong resistance for the coin,
as it has retested and failed to break above it multiple times
since Judge Analisa Torres delivered her final judgment in the
Ripple SEC lawsuit in August. At the time of writing, the XRP
price is trading at around $0.55, up over 3% in the last 24 hours,
according to data from CoinMarketCap. Featured image created
with Dall.E, chart from Tradingview.com
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