The XRP Community will no doubt be buoyed by this recent analysis from an early Bitcoin investor predicting that the XRP price could see a rise rapid movement upwards soon enough. The crypto analyst also appeared to have taken a position in the crypto token in anticipation of this upward move.
XRP price reaches $1.33
In a video posted on his YouTube channel, Davinci Jeremy said that XRP is going to see a new pump, taking it to “$1.33” quite quickly. Once that happens, he expects the token to move back to $1 and consolidate there for some time. What’s interesting is the fact that Jeremy suggested this pump be manipulated.
This is interesting because XRP’s tepid price movement for some time and the fact that many continue to say so The price of XRP is suppressed. The crypto analyst further stated that this price manipulation happens “every time.” He alluded to the fact that the XRP price always pops up out of nowhere and without any logical explanation for such a rally.
Meanwhile, Jeremy also highlighted fundamental factors that are bullish for the XRP price. This includes Ripple’s Big Wins in the regulatory environment, such as the victories against the Securities and Exchange Commission (SEC). Ripple also received major approvals Singapore And Dubai this year.
XRP mounts impressive rally on Christmas day | Source: XRPUSD on Tradingview.com
Bitcoin could be on its way to $47,000
Jeremy also commented Bitcoin and its future trajectory. Analyzing the charts, he stated that he expects Bitcoin to reach $47,000 if it stays above the $43,700 support level, but that has not happened so far as Bitcoin is currently trading below that price level.
The crypto analyst also looked at the Ethereum chart and said it was not bullish as it failed to stay above the support levels which he considered bullish. He further questioned the possibility of bringing Ethereum Bitcoin down. However, many will be confident that this will not happen as Bitcoin has mainly led the altcoins and not the other way around.
Meanwhile, Jeremy predicts that Bitcoin will see a “Santa Claus rally” before things potentially cool off. Historically, Bitcoin has been known to make some gains between Christmas and New Year. It remains to be seen what impact the potential approval of a Spot Bitcoin ETF in January could have on the price of Bitcoin.
Some predict that the price of Bitcoin will likely fall once that happens, while others predict that this would cause a further increase in the crypto token’s price. Crypto financial service provider Matrixport, specifically stated that Bitcoin will rise to $50,000 behind this development.
Featured image from Change.org, chart from Tradingview.com
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