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Crypto analyst Amonyx has made an ultra-bullish price prediction for the XRP price. Based on his analysis, the crypto could soon enjoy a massive pump that will lead to a price gain of almost 80,000%.
XRP price to enjoy “Giga Pump” up to $400
Amonyx stated in an X post that an XRP gigapump is incoming. Based on its accompanying map, the XRP price could enjoy a huge rally that could reach $400. Such a price rally will mean a price gain of almost 80,000% for the crypto. The analyst made this prediction using the Elliot Wave Theory.
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The expected rise to $400 represents an impulsive wave 5 move, with the analyst’s chart showing that this move upward was already in play. However, the accompanying chart did not show when exactly this parabolic move would occur, although it appears to be a price target for the peak of this market cycle.
Interestingly enough, about a month ago, Amonyx predicted that the XRP price could rise to between $50 and $57 this cycle, which seemed to be his high target for this bull run. As such, his recent prediction suggests that the analyst has become more optimistic about XRP’s trajectory. His ultra-bullish outlook for XRP may be related to the recent filings of Bitwise and Canary Capital to offer XRP ETFs.
Approval of these funds could attract more institutional investors to the XRP ecosystem, increasing inflows into the crypto and leading to a potential price increase. Amonyx also seems confident that the SEC and Ripple will settle their ongoing legal battle. Therefore, the lawsuit will no longer be an obstacle to XRP’s potential growth.
A settlement could also mean the possible approval of pending applications for an XRP ETF, as that will confirm that the Commission no longer believes the crypto is a security.
XRP breaks all-time record
Amid the ultra-bullish forecast, crypto analyst Jaydee has given a more conservative price target. The analyst predicted that the XRP price would rise to $6.5, marking a new all-time high (ATH) for the crypto. Crypto analyst Eggag Crypto recently declared that in the worst case scenario for the crypto in this bull run, XRP would at least rise to $5.89.
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Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this bull run. Crypto analyst CrediBULL Crypto Predicted that the crypto could reach $10 in this market cycle, based on his belief that ETH will reach $10,000.
The XRP price has remained stable and is consolidating between $0.5 and $0.6. However, crypto analyst Dark defender told market participants that an “extraordinary” outbreak will occur this month.
Featured image created with Dall.E, chart from Tradingview.com