XRP Price: Can One Explosive Move Push The Price Beyond $6 and $10 levels?

The post XRP Price: Can One Explosive Move Push The Price Beyond $6 and $10 levels? appeared first on Coinpedia Fintech News

Analysts across the cryptocurrency space believe that one major update, paired with strong bullish sentiment, could trigger an explosive move for XRP similar to the one seen in 2017. Egrag Crypto took to his X handle and set a minimum target of $6.4 for the cryptocurrency. Despite recent market fluctuations, the monthly candle formation is closing above the Fib 0.236 level, indicating a period of natural consolidation.

Projected Targets

Egrag Crypto said that the next target is the Fib 0.5 level. If XRP can surpass this level with conviction, it is projected to soar to the Fib 1.618 level, reaching $6.4.

Analyst Levi noted that the ongoing court case between the SEC and Ripple is expected to conclude by 2025. While the exact end date remains uncertain, the resolution of this case could unlock XRP’s potential for substantial growth. 

Looking ahead, Levi confidently predicts that XRP’s price could reach between $5 and $10 by 2025. This prediction is based on several factors, including a significant bullish technical indicator known as the Golden Cross expected in mid-2025, anticipated decreases in Federal Reserve interest rates leading to increased liquidity, and favorable geopolitical conditions.

Opposition and Challenges

Despite this potential, XRP faces opposition from entities within the current government system. Ripple’s CEO, Brad Garlinghouse, has criticized SEC Chair Gary Gensler for his harsh stance on crypto. Ripple and XRP represent financial freedom, challenging the existing financial structure, which the analyst believes is exploitative.

Ripple has been holding back several partnerships with major banks and companies worldwide, including Amazon, Santander, and the Bank of America. These collaborations are likely to come to light once the court case ends.

Additional Analyst Projections

Analyst Brett Hill has identified the next target for XRP to be between $2.90 and $16.10. Meanwhile, Armando Pantoja predicts that XRP is on the verge of breaking out to $5 soon. 

Pantoja wrote, “3 Key factors: 1. Triangle Breakout: #XRP poised for a breakout from a symmetrical triangle pattern. 2. Strong Support: Key support at $0.46 indicates a potential reversal. 3. Legal Outcome: #Ripple vs. SEC case nearing conclusion could boost market sentiment.”