Cryptocurrency analyst predicts that XRP pricenative token XRP Ledger (XRPL) could soon experience a 1,000-fold enhance. Despite the cryptocurrency’s recent significant price drop, the analyst remains confident about XRP’s future prospects.
XRP is poised for a 1000x enhance
Cryptocurrency Analyst Identified as ‘Mickle’ on X (formerly Twitter) common bullish observations about the future value of XRP, highlighting the cryptocurrency’s potential to break out of bearish trends and witness mass rally to recent heights.
During his video post, Mickle revealed that XRP could soon experience a significant 1000X bull run. This means that the crypto analyst expects XRP price to rise from the current value of $0.57 to $570 in this up cycle.
The analyst based his ambitious predictions on positive regulatory change in the United States. According to Mickle, the United States is poised for a huge policy shift that could benefit the industry by providing clear regulations for cryptocurrencies to thrive. As a result, prominent cryptocurrencies, including XRP, are poised for a major breakthrough.
Mickle revealed that the cryptocurrency community is struggling with an extremely hostile environment in the USmarked by numerous leading regulatory agencies taking seemingly aggressive enforcement actions against the industry. Despite these challengesthe analyst pointed out that the cryptocurrency space has shown extraordinary resistance and perseveranceemerging stronger after winning numerous court cases and successfully pushing for pro-cryptocurrency legislation.
Despite the recent XRP price dropMickle remains bullish, doubling down on his predictions in recent posts. According to the analyst, XRP’s price action is currently completing a massive formation similar to symmetrical triangle pattern observed in 2013-2017.
Mickle illuminated that during the XRP triangle formation between 2013 and 2017, the cryptocurrency experienced many declines and bearish sentiments. However, despite this downward trendXRP experienced an unexpected surge, reaching recent price levels.
Based on this analysis, the cryptocurrency analyst suggests that XRP is currently in a similar downtrend, but with bullish prospects for the futureHe believes that if XRP successfully completes this symmetrical triangle pattern, it could potentially witness an exponential growth breakout up.
XRP price drops below $0.6
Earlier this week, XRP Price traded above $0.6, showing a sturdy tendency to break out of downtrends and continue its upward momentum. However, in the last 24 hours cryptocurrency fell by an impressive 10%, currently trading at $0.57.
According to CoinMarketCap, XRP has also seen a keen 4.2% drop over the past seven days. This unexpected price drop comes as legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is coming to a close.
However, the Santiment market intelligence platform has revealed that when popular cryptocurrencies like XRP, ETH, BTC and others show low average 7-day returns for traders, it suggests a growing probability price rebound.
Featured image from Seeking Alpha, chart from TradingView
