Cryptocurrency analyst Amonyx has made an extremely hopeful price forecast for XRP price. His analysis shows that the cryptocurrency may soon enjoy a huge boost that will lead to: price augment almost 80,000%.

XRP price to enjoy “Giga Pump” up to $400

Amonyx stated in post X that a giga pump of XRP is coming. Based on the attached chart, XRP price he could enjoy a huge augment that would reach up to $400. This price augment will mean a cryptocurrency price augment of almost 80,000%. The analyst made this prediction using Elliot wave theory.

The projected rise to $400 represents an impulsive fifth wave move, and the analyst’s chart shows that this upward move has already taken place. However, the attached chart did not show when exactly this parabolic move will occur, although it looks like the price target will be at the top this market cycle.

Interestingly, about a month ago Amonyx predicted that the price of XRP could rise to a level of $50 to $57 this cycle, which seemed to be its highest target in this bull market. As such, his recent forecast suggests that the analyst has become more hopeful about XRP’s trajectory. His extremely bullish outlook for XRP can be tied to the recent filings of Bitwise and Canary Capital offering XRP ETFs.

Approval of these funds could attract more institutional investors to the XRP ecosystem, driving more inflows into cryptocurrencies and leading to potential price increases. Amonyx also seems convinced that SEC and Ripple will resolve the ongoing legal dispute. Therefore, the lawsuit will no longer be an obstacle to the potential development of XRP.

The settlement could also signal the potential approval of pending XRP ETF applications, as it would confirm that the Commission no longer believes the cryptocurrency is a security.

XRP broke an all-time record

Amid the ultra-bullish forecast, cryptocurrency analyst Jaydee provided a more conservative price target. Analyst predicted that the price of XRP will rise to $6.50, setting a novel all-time high (ATH) for this cryptocurrency. Cryptocurrency analyst Egrag Crypto recently stated that XRP will rise to at least $5.89 in the worst-case scenario for the cryptocurrency in this bull market.

Therefore, XRP analysts agree that the XRP price will reach at least a novel ATH in this bull market. Cryptocurrency analyst CrediBULL Crypto was predicted that the cryptocurrency could reach $10 this market cycle, based on his belief that ETH will reach $10,000.

The price of XRP remains stable, consolidating in the range of $0.5 to $0.6. However, a cryptocurrency analyst Dim Defender told market participants there would be an “extraordinary” breakout this month.

Featured image created with Dall.E, chart from Tradingview.com