- Cryptoanalysts, including Egrag Crypto, predict that XRP reaches 10 to $ 70 in the current cycle and refer to technical cycles.
- They assume that the sec./.ripple case can be completed by April 2024. FOX presenter Terrett suspects that the parties are currently negotiating the comparison.
In the middle of the general consolidation of the cryptom market, the XRP price has increased by 8 % in the past week and is currently trading at $ 2.33 with a market capitalization of over $ 135 billion. With a 54% in the daily trading volume for the Ripple Cryptocurrency, analysts indicate great activity in the future.
The prominent analyst Egrag Crypto has made an optimistic forecast for XRP and predicted a possible increase to $ 70. In a current analysis, he emphasized that this forecast is based on technical cycles and mathematical models. In a message on the X platform, EGRAG Crypto noted:
“I analyzed the strength of wave 1 in different crypto charts and after checking several projects, I found a convincing pattern in XRP that could signal a potential cycle top.”
However, Egrag Crypto is not the only analyst that predicts these high price goals for XRP. Previously, the analyst Egrag Crypto predicted that XRP could increase to $ 10 during the current market cycle, which is supported by historical trends and stronger bullish fundamental data.
Other market analysts have also shared similar expectations for XRP with a rally to $ 30, as long as the Ripple cryptocurrency over the level of $ 1.89, as mentioned in our previous reports.
In a significant market development, the fully diluted evaluation (FDV) of XRP exceeded that of Ethereum, which represents a remarkable shift in market dynamics. As of March 14, the FDV from XRP reached around $ 235 billion and thus exceeded that from Ether by $ 1 billion.
Short-term XRP course expectations
As already mentioned, the Ripple’s own cryptocurrency XRP has shown strength compared to the rest of the old coins on the market and carried out important movements. The crypto expert Dark Defender said that the Ripple cryptocurrency, in order to point up a greater movement, must first exceed the $ 2.42 mark, where it meets the Ichimoku cloud resistance. The exceeding this could lead to a sustainable recovery.
The analyst emphasized that the most important level of support for XRP is $ 2.22 and $ 2.04, with the price targets reaching up to $ 5.85. Similarly, Rose Premium Signals presented an interest bully trade setup and found that XRP breaks out of a descending channel, which indicates possible short and medium-term profits.
Your trade recommendation provides for an entry -level range of $ 2.20 to $ 2.40, with direct targets at $ 2.60, $ 2.85 and $ 3.10. Medium-term forecasts assume price levels of $ 3.36 and $ 3.87, with a stop loss being $ 2.00.
At the end of the sec./.ripple-fall in the griffible proximity?
Market analysts also believe that the legal dispute between the Sec and Ripple could come to an end by the next month of April 2024, as already reported. Fox Business Journalist Eleanor Terrett reports that the case is currently being delayed because Ripple is negotiating for cheaper comparison conditions.
Andrew AP Abacus from Arch Public recently tweeted that two second sources believe that the conflict was shortly before his end.
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