This Event Could Soon Propel XRP To $27!
The crypto market analysts anticipate a significant rise in the price of XRP, the native cryptocurrency of Ripple, due to several ETF (exchange-traded fund) applications currently under review. These initiatives could transform the investment landscape in XRP and attract a substantial inflow of institutional capital that could propel XRP up to 1500 %!
XRP soon at $27? This technical signal does not deceive
Leading asset management companies, such as 21Shares, Bitwise, Canary Capital, and WisdomTree, have recently filed applications with the SEC to launch XRP ETFs. These proposals, if approved, would offer investors regulated exposure to XRP without requiring direct ownership of the crypto. The approval of these ETFs could enhance the liquidity of XRP and boost demand, potentially leading to a significant increase in its price.
The market analyst Egrag Crypto thus forecasts a 1,500 % increase in the price of ripple over the next four weeks, based on a technical analysis comparing the current situation to a 2017 fractal. He emphasizes that XRP recently touched the “Purple Foundation” and nearly reached the “Bull Market Support Band” (BMSB), indicators that, in 2017, preceded a similar 1,500 % increase in just one month. If this pattern repeats, XRP could reach around $27.
Another analyst, Javon Marks, also notes that at that time, after a period of consolidation below its previous all-time high, XRP experienced a significant breakout, reaching a first target at $1.27. If this scenario repeats, Marks estimates that ripple could target a second objective at $99, representing an increase of over 3,900 % from current levels.
Favorable regulatory developments
These optimistic forecasts are also supported by favorable regulatory developments. The inauguration of President Donald Trump on January 20 has rekindled hopes for more lenient regulation for the crypto industry. Furthermore, the resignation of Gary Gensler, former SEC Chairman, has been seen as a positive signal for the XRP market, given the ongoing legal battles between Ripple and the SEC since 2020.
The potential approval of XRP ETFs, combined with favorable technical analyses, could thus propel the price of ripple to new heights in the near future. However, crypto investors must stay vigilant as everything can change very quickly in this volatile universe.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.