As the cryptocurrency market continues to be unpredictable, Ripple (XRP) has emerged as one of the few cryptocurrencies showing significant growth potential. Recent predictions suggest that XRP could surge to $12, especially with the expected formation of the third macro wave. Currently, XRP is trading in a tight range, but investors and analysts are watching closely to see if this new wave can push Ripple to unprecedented levels.
XRP Positioned for Wave 3 and Rally to $12
Experts are eyeing XRP for what is known as the âthird macro wave,â a phase that typically signals a significant rally due to increased buying pressure. Currently priced between $0.5217 and $0.5341, XRP has the potential to break through key resistance levels if this wave materializes. With the 50-day moving average at $0.56950, XRP could see upside momentum, targeting resistance points at $0.68306 and $0.75475. A breakthrough here could pave the way for XRP to hit $12, fueled by similar market conditions that have driven other cryptocurrencies in the past.
Second XRP ETF in the US Could Be a Watershed Moment
Another important development that could boost XRP prices is Canary Capitalâs filing for a second XRP-based ETF in the United States. If approved, this ETF could increase institutional interest in XRP, bringing more liquidity and potentially pushing prices higher. ETFs typically make assets more accessible to a wider audience, and the ripple effect (pun intended) could be huge if an XRP ETF gets the green light.
Ripple burns 470 million RLUSD, affecting supply
In a recent move to control supply, Ripple burned 470 million RLUSD stablecoins during its beta testing period. Token burns reduce the circulating supply, which could lead to a price increase if demand remains strong. This strategic token burn demonstrates Rippleâs commitment to managing its token supply, creating another potential boost to XRPâs price. However, to sustain this momentum, demand for XRP must continue to increase.
Conclusion
XRPâs journey to $12 depends on a number of factors, including the third macro wave, the potential approval of an XRP-based ETF, and Rippleâs proactive management of its token supply through the RLUSD burn. While these developments are promising, breaking through key resistance levels and maintaining strong demand are critical to achieving this price target.
