Category: Crypto News

Analyst Bullish For $1 Breakout Despite Ripple’s Sluggish Ascent 

The XRP price is still projecting a gradual upward ascent despite Ripple’s effort to expand its ecosystem. With Ripple announcing a critical USD-pegged stablecoin development, XRP responded to the development by documenting a modest spike of 0.6% in its price without altering its long-term pace. 

Despite Ripple’s sluggish price growth, several analysts on X are projecting a bullish price prediction for XRP. Egrag Crypto, a notable analyst on X, has issued a new forecast, adding that XRP will soon be able to hit critical price markers of $0.702 and $0.786.

Also Read: Ripple: Will XRP Break Past Its Consolidation Phase To Hit $1 Post Bitcoin Halving? 

When Will XRP Explode?

Analyst Bullish For  Breakout Despite Ripple’s Sluggish Ascent 
Source: WatcherGuru

According to Egrag Crypto, XRP’s next price targets are leveled at the $0.702-$0.786 thresholds. The analyst noted how XRP is poised to gain considerable momentum soon after it crosses the critical resistance levels hovering at these price targets. 

Analysts at Techopedia have also predicted a bullish price trajectory for XRP. The platform forecasts a $1.80 price mark for XRP, which the token is expected to reach by the end of 2024.

“XRP has seen moderate gains (~18%) since Bitcoin ETF approval compared to other tokens in the top 10. It has posted gains of 50% and more. This is likely because investors are awaiting the conclusion of the Ripple lawsuit. Therefore, our XRP price prediction forecasts a price of $1.80 by the end of 2024.

The platform later predicts how XRP may also breach an ambitious price mark of $3 by 2024, provided Ripple wins the case against the SEC. However, the platform further noted how XRP could also hit a new price low if it fails to win the case against the US Securities and Exchange Commission.

“Depending on the lawsuit’s outcome and crypto market conditions, it could go much higher, potentially reaching $3.10. Nevertheless, there is also scope for lows of $0.30 if the case swings in the SEC’s favor.”

Also Read: Ripple: When Will XRP Hit Critical Price Markers of $0.70 and $1?

XRP April Forecast

For April, Coinpedia expects XRP to experience modest price hikes coupled with a few price downturns. The platform expects XRP to average around the $0.81 price mark in April 2024. 

Another leading platform, CoinCodex predicts XRP to gain 11% by April End and the First week of May 2024.

“According to our current XRP price prediction, the price of XRP is predicted to rise by 11.75% and reach $ 0.652837 by May 5, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 79 (Extreme Greed). XRP recorded 16/30 (53%) green days with 4.11% price volatility over the last 30 days.”  

Source link


Discover more from BIPNs

Subscribe to get the latest posts to your email.

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.


Discover more from BIPNs

Subscribe to get the latest posts to your email.