Crypto analyst Amonyx has a ultra bullish price forecast for the XRP price, predicting that the crypto token could reach double digits at some point. This comes amid XRP’s continued underperformance despite the conclusion of the case between Ripple and the US Securities and Exchange Commission (SEC).
Huge God Candle to send XRP price to $57
Crypto analyst Amonyx listed in an X (formerly Twitter) after that’s a huge one God’s candle was loading, what would happen send the price of XRP to $57. Based on the chart the analyst shared, the crypto token will rise to this price level sometime next year, possibly at the peak of this market cycle.
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The analyst failed to provide insight into what could cause XRP to reach such an ambitious price target. However, a more recent one X message of analysts suggest that the analyst believes that the potential launch of a Discover XRP ETF could cause the crypto token to reach such unprecedented heights.
A Spot XRP ETF is a catalyst that other crypto analysts, such as Common Sense Crypto, have also alluded to to explain why the price of An XRP ETF will undoubtedly cause new money to flow into the XRP ecosystem, leading to a price increase. However, it remains uncertain that such a fund can take XRP to such lofty heights.
The likelihood of a Spot XRP ETF launching seems higher following the recent conclusion of the case between Ripple and the SEC. However, members of the XRP community will likely be cautious about getting their hopes up too high about the launch of such a fund and the impact it could have on the price of accomplished since the trial ended.
The conclusion of the case between Ripple and the SEC was expected to be a catalyst that could send XRP to as high as $1 in the near term. However, XRP has shown no signs of reaching the price level anytime soon as it failed to move above the $0.6 resistance even after that. Judge Analisa Torres’ recent ruling.
XRP’s bullish breakout will send the price to $263
Crypto analyst Javon Marks has offered even more bullish price forecast for XRP, to report that a bullish breakout could send the crypto token to $263 based on the Full Logarithmic Follow-Through indicator.
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The analyst added bullish breakout is more than possible, noting that XRP is nearing the convergence point of an almost “7-year consolidation/pattern development.” He added that the crypto token has also been listed multiple bullish signalsThis suggests that this bullish breakout could happen at some point.
At the time of writing, XRP is trading around $0.56, down over 2% in the past 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com