Following a recent legal ruling in the ongoing battle between the SEC and Ripple, a popular crypto analyst has predicted a significant price surge for XRP, envisioning the cryptocurrency reaching $6. CoinsKid, a well-known cryptocurrency influencer, offered technical analysis and drew parallels to XRP’s situation in 2020, highlighting its potential for growth.
In a video, CoinsKid outlined his XRP price prediction, noting that there may be a chance for the price to experience a pullback to a support level before continuing its climb, similar to the pattern observed in 2020. He advised viewers to consider buying during pullbacks, referred to as “buying the blood,” rather than when large green candles appear, as these can be seen as selling opportunities.
The analyst also identified an ascending triangle chart pattern in XRP’s performance, suggesting a potential three-wave breakout. Considering the volatility in the crypto market and the anticipated rally of the U.S. dollar, he proposed that XRP could potentially reach the $6 level by the end of the year. CoinsKid emphasized that the third wave should be capable of surpassing XRP’s previous high in April 2021 and possibly even its all-time high of $3.3 per token, seen back in 2018.
Another prominent analyst, Michaël van de Poppe, has also expressed optimism regarding XRP’s future. He recently highlighted a potential downward adjustment to approximately $0.65 but noted that this dip could set the stage for a bullish resurgence. Van de Poppe’s analysis suggests that the post-dip rally could propel XRP’s value to a high of $0.90.
As the legal battle between Ripple and the SEC unfolds and the recent ruling regarding XRP’s classification as a security, market observers are closely monitoring the cryptocurrency’s performance. The bullish predictions from analysts like CoinsKid and Van de Poppe have provided XRP investors with optimism and anticipation for potential price gains in the near future.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.