Cryptocurrency analyst Amonyx presented ultra bullish price forecast for XRP price, predicting that the crypto token could hit double digits at some point. This comes amid XRP’s continued underperformance, despite end of the matter between Ripple and the US Securities and Exchange Commission (SEC).
Massive God Candle Will Send XRP Price to $57
Amonyx Crypto Analyst Mentioned in X (Formerly Twitter) fasting that massive God’s Candle it was loading, what would send XRP price to $57. Based on the chart shared by the analyst, the crypto token will rise to this price level next year, probably at the top this market cycle.
The analyst did not provide insights into what could cause XRP to reach such an ambitious price target. However, newer Posts X from analysts suggests that the analyst believes that the potential launch ETF spot XRP could allow the cryptotoken to reach unprecedented heights.
The XRP ETF spot is a catalyst that other cryptocurrency analysts like Common Sense Crypto have also mentioned to explain why the price of XRP could reach triple digits. The XRP ETF will undoubtedly bring in modern money into the XRP ecosystem, leading to a pointed enhance in price. However, it is uncertain whether such a fund can push XRP to such high levels.
The likelihood of a Spot XRP ETF launch seems higher following the recent conclusion of the case between Ripple and SECHowever, members of the XRP community will likely be cautious about pinning too much hope on the launch of such a fund and the impact it could have on the price of XRP, especially after seeing how the crypto token has performed since the lawsuit was settled.
The conclusion of the Ripple-SEC case was expected to be a catalyst that could push XRP to $1 in the near term. However, XRP has shown no signs of reaching that price level anytime soon, as it failed to break through the $0.6 resistance even after Judge Analisa Torres’ latest ruling.
XRP bullish breakout will see price rise to $263
Cryptocurrency Analyst Javon Marks offered more bullish price forecast for XRP, stating that the bullish trend could push the cryptotoken’s price up to $263, according to the Full Logarithmic Follow-Through indicator.
The analyst added that this bullish breakout is more than possible, noting that XRP is nearing the convergence point of a nearly “7-year consolidation/development pattern.” He added that the cryptotoken has also shown many bullish signalswhich suggests such a bullish breakout could occur at some point.
At the time of writing, XRP is trading at around $0.56, down more than 2% in the past 24 hours, according to data data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
