As the #cryptocurrencymarket continues to grow, an analyst has made an exciting new prediction regarding the price of $XRP
. He claims that the token will trade above the $6 level by the end of the year. This could be due to an increase in global liquidity.
Correlation between global liquidity and XRP gains
Analyst Steph's prediction is based on a thorough evaluation of how XRP has performed during periods of increased global #liquidity .
According to his analysis, there are two clear trends, 2017/2018 and 2020/2021, during which the value of XRP has been rising. In a recent update published on X, Steph cited a chart showing that XRP tends to follow periods of liquidity infusion into the market.
For example, in the 2017/2018 cycle, XRP reached an all-time high. The same pattern repeated itself in the next cycle, with the price approaching $2 in 2021.
However, as noted in Steph's predictions, there is a certain amount of skepticism among market participants. There are some inconsistencies in previous #Xrp🔥🔥 forecasts made by various critics, which they pointed out.
In addition, Stef notes that the current economic and liquidity conditions may be more important. These could be similar to those in past successful periods and pave the way for another significant price increase.
He estimates that if the current price of $0.5058 is to be believed, XRP could rise by more than 1,086% and surpass the $6 mark.
Analyst: end of bull market season
Steph made his prediction at a time when the current bull market is expected to come to an end. Some analysts believe that this phase could lead to a significant influx of investment in high utility assets such as XRP. This factor, combined with the expected increase in global liquidity, makes XRP poised for significant growth.
In addition, the registration of the 21Shares XRP ETF had a positive impact on the price of XRP. The price of the asset rose slightly, indicating an improved market perception due to possible increased investor access. Increased liquidity and transparency through ETFs is a key driver of the price change.
In addition, the MACD indicator on the XRP price chart also shows a positive crossover signal. A bullish crossover signal appears on the signal line, which is a bullish sign. The MACD histogram, which is the difference between the MACD line and the signal line, is also rising.
This means that the XRP price momentum is rising. This technical pattern indicates the renewed interest of traders to buy and may contribute to further upside.
Moreover, the recent XRP analysis has shown that the latest XRPL price update from Oracle could significantly affect the market conditions. This update is intended to improve the quality of pricing information, thereby creating strong upside potential for XRP.
XRP Price Fate
With these improvements, investor interest remains high, and this could pave the way for XRP to reach the $0.8 level.
At the time of writing, XRP is trading at $0.5089, up 1.95% over the last day. The trading volume increased by 5.37% to $914.89 million over the same period, indicating an increase in trading activity and investor interest in the cryptocurrency.