Ripple
Analyst Says XRP Price Will Reach $100, But This Needs To Happen First
Published
2 weeks agoon
By
adminCrypto analyst JackTheRippler has raised the possibility of the XRP price rising to $100 soon enough. As part of his prediction, he mentioned what needs to happen for the crypto token to attain such ambitious heights.
How XRP Price Could Rise To $100
JackTheRippler suggested in an X(formerly Twitter) post that the XRP price hitting $100 was “inevitable” once the case between the Securities and Exchange Commission (SEC) and Ripple came to an end. Furthermore, he predicted that XRP could rise to as high as $10,000, claiming that the crypto token hitting five figures was achievable after the lawsuit.
Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading
The analyst’s remarks again highlight the belief among members of the XRP community that the SEC’s lawsuit against Ripple has greatly hindered XRP’s growth. Specifically, the lawsuit is believed to be why XRP underperformed in the 2021 bull run, having made remarkable strides in the 2017 bull run (long before the lawsuit was instituted).
Meanwhile, in his remarks, JackTheRippler alluded to XRP gaining regulatory clarity once the case between the SEC and Ripple was over. This statement caught the attention of some of his followers, who pointed out that it had gotten clarity following Judge Analisa Torres’ ruling that XRP isn’t a security.
Interestingly, XRP has failed to mount any significant run despite gaining this clarity last year. This is one reason why some XRP holders seem to have lost faith in the crypto token, as expectations were high following Judge Torres’ ruling. However, nothing much happened as the crypto token briefly rose on the back of the ruling but steadily declined in the following weeks.
Therefore, these holders will likely be cautious about getting their hopes high despite JackTheRippler’s optimism since XRP could still maintain its unimpressive price action even after the SEC’s lawsuit is over.
The SEC’s Lawsuit May Not Be Ending Anytime Soon
Meanwhile, it is worth noting that the case between the SEC and Ripple could even drag on beyond this year, irrespective of the outcome of the penalties stage, as both parties are likely to appeal certain rulings. This means that XRP holders might have to wait a while to see if the crypto token hits $100 based on JackTheRippler’s prediction.
If the case is prolonged beyond this year, XRP could miss out on achieving its true potential in this bull run if the lawsuit is indeed acting as a stumbling block to its progress. The lawsuit has, however, not stopped crypto analysts like Egrag Crypto from making bullish predictions for XRP in this bull run. He predicts the crypto token could rise to as high as $27 at this market peak.
At the time of writing, XRP is trading at around $0.54, up over 2% in the last 24 hours, according to data from CoinMarketCap.
XRP price shows bullish momentum | Source: XRPUSDT on Tradingview.com
Featured image from Bitcoinist, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Source link
You may like
GBM Auctions to Host Memorabilia Auction with Polkadot Creator Dr. Gavin Wood – Blockchain News, Opinion, TV and Jobs
Weakening Dollar Could Boost Crypto and Push One Altcoin to Astronomical Price Target: Economist Henrik Zeberg
Ethereum Price Reclaims 100 SMA But Bulls Still Lack Strength To Clear Hurdles
Crypto Trader Says Three Altcoins Are His Golden Tickets, Flips Bullish on One Memecoin With ‘Monster’ Chart
XRP Holders Stack Coins Despite Price Dip: Bullish Signal?
Spot Bitcoin ETF Token Presale Crosses $200,000 – Blockchain News, Opinion, TV and Jobs
haskkey group
Ripple Forms Partnership With Tokyo Unit of $1,200,000,000 Firm To Push for XRPL-Powered Solutions in Japan
Published
5 days agoon
May 1, 2024By
adminPayments firm Ripple has inked a new partnership with the Tokyo-based arm of HashKey Group in an effort to bring XRP Ledger-based supply chain finance solutions to Japan.
Ripple and HashKey DX, a Japanese consulting company of the HashKey Group, will also work with Japanese financial services giant SBI Holdings, which has been partnered with the San Francisco payments firm on remittances in Japan since 2016.
HashKey Group is a Hong Kong-based Web3 infrastructure developer that reported a valuation of more than $1.2 billion in January, according to a Bloomberg report.
Ripple notes in a new partnership announcement that HashKey has launched blockchain-powered supply chain finance solutions across mainland China, registering 23 banks and 4,300 suppliers.
Now, the payments firm and HashKey DX aim to offer the same solutions in Japan.
Explains Ripple,
“As part of this partnership, SBI Group companies will become the first Japanese corporations to utilize this supply chain finance solution. Looking ahead, the three companies will explore further collaboration on various enterprise blockchain use cases that will leverage the robust capabilities of the XRPL.”
XRP is trading at $0.4975 at time of writing. The eighth-ranked crypto asset by market cap is down nearly 4% in the past 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Altcoins
XRP Can This 23 Million Token Purchase Spark A Rally?
Published
6 days agoon
April 30, 2024By
adminThe cryptocurrency market continues to navigate a period of sluggishness. Yet, a recent whale activity has injected a flicker of hope for XRP, the native token of Ripple. On Tuesday, a significant investor, commonly referred to as a whale, acquired a hefty 23 million XRP, sparking renewed interest in the embattled token.
Whale Movement: A Sign Of Shifting Tides?
The purchase was identified by Whale Alert, a platform that tracks large cryptocurrency transactions. The tokens originated from a Binance exchange wallet, with the recipient address remaining undisclosed. However, the fact that the recipient was a Binance user suggests potential for further trading activity.
This whale movement is seen by some analysts as a potential turning point for XRP. Historically, large-scale purchases by whales have often preceded price surges. However, some experts caution against overinterpretation. Whale activity can be driven by various factors, and a single purchase doesn’t guarantee a sustained upward trend for XRP.
🚨 23,037,429 #XRP (11,550,284 USD) transferred from #Binance to unknown wallethttps://t.co/K00G3Ry7ab
— Whale Alert (@whale_alert) April 29, 2024
Open Interest: A Mixed Signal
Adding a layer of complexity is the recent decline in XRP Open Interest (OI). As per data from Coinalyze, XRP OI has dipped by 2.12% over the past 24 hours. Open Interest reflects the total value of outstanding futures contracts for a particular cryptocurrency. A decrease suggests a potential reduction in leveraged positions, which could indicate short-term selling pressure.
However, analysts point out that the perpetual contracts, which constitute the majority of XRP OI, still hold significant weight at over $374 million. A renewed buying spree could trigger a reversal in the Open Interest trend, potentially propelling the price upwards.
Total crypto market cap currently at $2.19 trillion. Chart: TradingView
The Lingering Shadow Of The SEC Lawsuit
It’s impossible to discuss XRP’s future without acknowledging the ongoing legal battle with the US Securities and Exchange Commission (SEC). The lawsuit, which alleges XRP is an unregistered security, has undoubtedly cast a long shadow over the token’s performance.
While the recent “remedies phase” of the lawsuit hints at a potential settlement, investors remain cautious. The final outcome and its timeline are still uncertain, leaving a cloud of ambiguity over XRP’s regulatory status.
XRP Price Outlook: A Glimmer Of Optimism?
Currently, XRP is trading at around $0.50, a significant drop from its all-time high of over $3. The price reflects the broader market slump and the ongoing legal battle.
The recent whale purchase, coupled with ongoing negotiations in the SEC lawsuit, offers a glimmer of hope for XRP bulls. However, a sustained price increase hinges on several factors. A favorable resolution to the lawsuit and a broader market recovery are crucial for XRP to regain its lost ground.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Source link
Analyst
Analyst Says Prepare For 700% Jump To $4, Here’s When
Published
1 week agoon
April 28, 2024By
adminThe bullish predictions for the XRP price are back, even with the bulls struggling to push the crypto on a price surge. EGRAG, a cryptocurrency expert, has made one of these positive forecasts, which is that there will be a price spike of tremendous magnitude. According to the analyst’s recent post on social media, XRP could reach the $4 price level over the long term.
Crypto Analyst Predicts 700% Bullish XRP Price Action
XRP has experienced a small decline in value over the past few days as the entire crypto market consolidates in price action. XRP’s price movement this year has largely left many of its fervent enthusiasts feeling disappointed, particularly considering the fact that it is yet to reach the $1 mark as predicted by many analysts.
Data from Coinmarketcap shows XRP now finds itself bouncing around at the $0.51 price mark after retesting the $0.435 on April 13. However, according to EGRAG, this is poised to change soon.
EGRAG, known for this very bullish stance on XRP, recently noted in his analysis that the current XRP price movement mimics the 2021 move which saw it breaking as high as $1.8. According to his analysis, EGRAG divided the price outlook into two sections blue and yellow, each depicting mirror images of 2021 price movement.
#XRP Imitating 2021 – Move:
🔵 Blue Section: The current trajectory suggests a possible reach of $1.4 by June-July, a key target. The price range between ($1.2 – $1.8) is a plausible target.
🟡 Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.… pic.twitter.com/BMUJSbb5GQ
— EGRAG CRYPTO (@egragcrypto) April 25, 2024
The blue section is more of a narrow price trajectory which suggests that XRP could reach $1.4 by June or July, with a price range between $1.2 to $1.8. Meanwhile, the yellow section is a more bullish price trajectory. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow section of 2021’s movement. Interestingly, a surge to the $4 price level would put the price of XRP at a new all-time high.
What’s Next For XRP?
EGRAG is one of the many crypto analysts who are still bullish on XRP’s price trajectory. His long-term price projection for XRP is $27, which he believes is still viable. At the time of writing, XRP is trading at $0.5148, down by 16.8% in the past 30 days.
This means in order to reach $4 in July, the bulls will have to push the crypto on a 677% increase in less than three months. Although the volatile nature of cryptocurrencies suggests this price run is possible, current market dynamics point to modest XRP price gains at best.
On the other hand, on-chain metrics have revealed that a bullish sentiment might be returning to XRP. Notably, the amount of XRP wallets holding at least 1 million coins has been surging recently, which could be a signal of a coming price surge.
XRP at $0.51 | Source: XRPUSDT on Tradingview.com
Featured image from Coinpedia, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Source link
GBM Auctions to Host Memorabilia Auction with Polkadot Creator Dr. Gavin Wood – Blockchain News, Opinion, TV and Jobs
Weakening Dollar Could Boost Crypto and Push One Altcoin to Astronomical Price Target: Economist Henrik Zeberg
Ethereum Price Reclaims 100 SMA But Bulls Still Lack Strength To Clear Hurdles
Crypto Trader Says Three Altcoins Are His Golden Tickets, Flips Bullish on One Memecoin With ‘Monster’ Chart
XRP Holders Stack Coins Despite Price Dip: Bullish Signal?
Spot Bitcoin ETF Token Presale Crosses $200,000 – Blockchain News, Opinion, TV and Jobs
Employee at Billion-Dollar Bank Arrested, Accused of Stealing $44,000 From Account of Deceased Customer
Analyst Reveals Why It’s Time To Get Back Into ADA
Six to Twelve Months of ‘Parabolic Advance’ on the Horizon for Bitcoin, According to On-Chain Analyst
10x Research Reveals Next Steps From Here
New Global Currency Designed To Ditch US Dollar, Avert Sanctions Emerging As BRICS Leaders Prepare To Meet: Report
Analyst Says Bitcoin Price Is Headed To $90,000, Here’s Why
Venture Capitalists Funnel Nearly $2,500,000,000 Into Crypto in Q1 of 2024: Galaxy Research
Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst
Bitcoin and Other Cryptos Set To Begin ‘Slow Grind Higher,’ Says Arthur Hayes – Here Are His Top Altcoin Picks
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
New Minting Services
Block News Media Live Stream
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
Block News Media Live Stream
How Web3 can prevent Hollywood strikes
Block News Media Live Stream
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
Block News Media Live Stream
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
BNM DAO Token Airdrop
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
New Minting Services
- Video2 years ago
Block News Media Live Stream
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs