XRP is gaining momentum in the cryptocurrency market, buoyed by recent price recoveries and heightened investor enthusiasm.
Analysts are now speculating on its potential for a significant price increase.
Market expert Edrag Crypto has put forth an ambitious prediction of a 10x price surge for XRP, stirring excitement among crypto enthusiasts. This forecast is based on a unique Macro Drop Zone analysis, identifying three key areas in XRP’s price trajectory.
The outlook suggests that if the ongoing legal battle between the SEC and Ripple concludes favorably, XRP could reach new all-time highs.
Edrag Crypto describes XRP’s current position as a macro consolidation phase, where it previously dropped from $0.15 to $2. The analyst encourages investors to prepare for a possible ascent as XRP approaches this crucial drop zone. Should XRP break through, a leap from $2 to $15 could be on the horizon.
Following that, the token might enter a second consolidation phase, moving from $15 to approximately $115. While this forecast may seem ambitious, the analyst notes it is less volatile than the previous rise, with volatility decreasing from over 1233.33% (from $0.15 to $2) to about 666.67% (from $15 to $115), indicating a more stable growth phase.
The U.S. Securities and Exchange Commission (SEC) has officially approved the conversion of the Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF), finalizing its transition from an over-the-counter product into a fully regulated ETF structure.
The recent launch of the TOKEN6900 (T6900) meme coin presale is a refreshing sight in a market oversaturated with presales focused on providing utility. Token6900 returns to the roots of meme coins, offering no utility. This is precisely what makes it appealing to those seeking a high-risk, high-reward asset to stockpile. Marketed as the world’s […]
XRP trading volumes have doubled in the past 24 hours. Although the price action has not reacted as expected yet, something could be brewing as bulls could be accumulating tokens at these low prices in anticipation of the token’s next leg up. Yesterday, the market reacted quite positively to the approval of the first Solana […]
With the U.S. Securities and Exchange Commission (SEC) already greenlighting spot Bitcoin and Ethereum ETFs, attention is now turning to the next wave of crypto-backed exchange-traded funds.