Cryptocurrency analyst Amonyx has made an extremely bullish price prediction for XRP. Based on his analysis, the cryptocurrency could soon see a massive rally that could result in a price increase of nearly 80,000%.
XRP Price Set to Enjoy “Giga Pump” to $400
Amonyx claimed in a post on X that a giga-pump of XRP is coming. Based on the accompanying chart, the XRP price could surge to as high as $400. Such a rally would represent a price increase of nearly 80,000% for the cryptocurrency. The analyst made this prediction using the Elliot Wave theory.
The projected rise to $400 represents an impulsive wave 5 move, with the analyst's chart showing that this bullish move has already taken place. However, the accompanying chart does not show exactly when this parabolic move will occur, although it appears to be the price target for the top of this market cycle.
Interestingly, about a month ago, Amonyx predicted that XRP could rise to between $50 and $57 this cycle, which appears to be his top target for this bull run. His recent prediction therefore suggests that the analyst has become more bullish on XRP’s trajectory. His extremely bullish outlook on XRP may be related to the recent filings by Bitwise and Canary Capital to offer XRP ETFs.
Approval of these funds could attract more institutional investors to the XRP ecosystem, driving further inflows into the cryptocurrency and potentially leading to a price increase. Amonyx also appears confident that the SEC and Ripple will resolve their ongoing legal battle, so the lawsuit will no longer be a barrier to XRP's growth potential.
A settlement could also signal potential approval for pending XRP ETF applications as it would confirm that the Commission no longer believes the cryptocurrency is a security.
XRP Will Break All-Time High
Amidst the extremely optimistic predictions, crypto analyst Jaydee has come up with a more conservative price target. The analyst predicts that XRP will rise to $6.5, marking a new all-time high (ATH) for the cryptocurrency. Crypto analyst Egrag Crypto recently stated that XRP will at least rise to $5.89 in the worst-case scenario for the cryptocurrency during this bull run.
Therefore, the consensus among XRP analysts is that XRP price will at least reach a new ATH during this bull run. Crypto analyst CrediBULL Crypto predicts that the cryptocurrency could hit $10 during this market cycle based on his belief that ETH will hit $10,000.
XRP price remains stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defender has told market participants that there will be a “phenomenal” breakout starting this month. #Write2Win #IntroToCopytrading #BinanceTurns7 #xrp $XRP
