The price of XRP, the native token of the XRP Ledger, has shown tentative signs of life in recent days, surpassing the $0.50 psychological barrier to now trade at $0.547 per token. This stability comes after a prolonged period of consolidation, and one analyst believes its price could explode by 150%.
In a newly published post on the microblogging platform X (formerly known as Twitter), analyst Egrag Crypto revealed he believes XRP might be on the verge of a significant move, pointing to a “double bottom” formation in XRP’s chart, a technical indicator often seen as a bullish signal.
This pattern, along with other technical factors, suggests a potential setup for a notable price increase, according to the analyst, that could see the native token of the XRP Ledger surge to $1.4, which would represent a rise of 150% from current levels.
In his post, Egrag Crypto wrote that the double bottom formation is “giving us a strong bullish signal,” and added he is “highly confident that the thurst will soon begin.”
A breakout for XRP could reignite investor interest, which has waned as the broader cryptocurrency market has seen a downturn it now appears to be recovering from. Recent developments in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may also be contributing to the token’s tentative momentum.
The SEC is seeking a $2 billion penalty against Ripple over XRP sales, alleging the token is an unregistered security. Ripple has vehemently disputed these claims, arguing that XRP is a utility token and not a security, with Ripple’s CLO arguing the $2 billion fine demand is evidence of “intimidation against all of crypto in the U.S.”
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The company recently filed a response to the SEC’s request for penalties, urging the court to impose a significantly lower fine and highlighting changes made to XRP sales to prevent future violations.
As CryptoGlobe reported, a popular cryptocurrency analyst has recently stood by their bullish price prediction for XRP, predicting the cryptocurrency’s price will sprungið upp í yfir $200 á hvert tákn, sem er yfir 30,000% hækkun frá núverandi stigi.
Samkvæmt orðum hans hefur XRP séð „fulla logaritmíska eftirfylgni“ sem þýðir að XRP „gæti verið meira en áætluð fyrir $200+. Hann benti á að verð XRP hækkaði yfir 100,000% á nautahlaupinu 2017-2018 og lagði til að 33,000% hlaup frá núverandi stigi „geti verið meira en mögulegt er og þróast.
Eins og greint hefur verið frá hefur XRP Ledger verið að þróast með tímanum, þar sem heildarmagn XRP er læst á XRP Ledger nýlega hleypt af stokkunum sjálfvirkum viðskiptavaka (AMM) vettvangi nýlega hækkað úr um 330,000 XRP táknum í yfir 715,000 XRP, að verðmæti yfir $400,000, á þeim tíma sem AMM vettvangurinn er stilltur á að fá lykil villuleiðréttingu.
Hækkun læsts XRP kemur einnig skömmu eftir að Ripple, leiðandi veitandi blockchain og dulritunarlausna fyrirtækja, tilkynnti um áætlanir sínar um að setja af stað stablecoin sem er tengt 1:1 við Bandaríkjadal (USD). Stablecoin myndi vera að fullu studd af varasjóði innlána í Bandaríkjadölum, skammtímaskuldabréfa Bandaríkjanna og annarra ígilda reiðufjár.
Sem CryptoGlobe tilkynnt, fyrirtækið gerir ráð fyrir að stablecoin markaðurinn fari yfir $ 2.8 trilljón árið 2028, og eigin stablecoin verður hleypt af stokkunum bæði á XRP Ledger og á Ethereum.
Valin mynd um Unsplash.
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- Heimild: https://www.cryptoglobe.com/latest/2024/04/xrp-price-eyes-breakout-as-analyst-predicts-potential-150-surge/
