The crypto token XRP might hit double digits at some time, according to crypto researcher Amonyx, who has set out an extremely optimistic price prognosis for the coin. This is on top of the fact that XRP's performance has been dismal even after the SEC issue involving Ripple has been resolved.
Price of XRP Could Reach $57 Due to Massive God Candle
Crypto expert Amonyx predicted in a post on X (formerly Twitter) that XRP's price will reach $57 when a big God candle loaded. According to the analyst's chart, this price point might be reached by the crypto token anytime next year, potentially around the market cycle's top.
The expert did not elaborate on the factors that would propel XRP to such a lofty price objective. A more recent X post by the analysts, however, implies that they think the possibility of a Spot XRP ETF launch might enable the crypto currency to achieve such extraordinary heights.
Similar to Common Sense Crypto, several crypto experts have hinted that a Spot XRP ETF might be a trigger for XRP's price to hit three figures. The introduction of an XRP exchange-traded fund (ETF) would certainly attract more investors, driving up the price of XRP. But whether or not such a fund can propel XRP to such great heights is still up in the air.
Now that Ripple's dispute with the SEC has concluded, the chances of a Spot XRP ETF debut are greater than they were before. Having seen how the crypto token has done after the litigation concluded, XRP community members will likely be wary about getting their expectations up about the creation of such a fund and the influence it may have on XRP's price.
The anticipated event that may propel XRP to $1 in the immediate future was the completion of the lawsuit between Ripple and the SEC. After failing to break over the $0.6 barrier even after Judge Analisa Torres' latest verdict, XRP has failed to show any indications of surpassing that price level anytime soon.
Price of XRP Will Climb To $263 As Bullish Breakout Occurs
A more optimistic price forecast for XRP has been put out by crypto expert Javon Marks, who, using the Full Logarithmic Follow-Through indicator, predicts that the currency might reach $263 after a bullish breakthrough.
This bullish breakout is quite feasible, the analyst said, adding that XRP is getting close to the convergence point of a near "7-year consolidation/pattern development." In addition, he said that the crypto coin has shown several positive indicators, which might indicate that this breakthrough could occur in the near future.
According to statistics from CoinMarketCap, XRP is selling at about $0.56 right now, which is a decrease of more than 2% over the previous 24 hours.
