Renowned analyst EGRAG has projected a significant rise in the value of XRP, predicting a 2,829% surge to reach a target of $15. The forecast is based on his Bent Fork model, which includes four tracks: Major Historical Support, Ranging Zone, Mid-Cycle Top, and Cycle Top.As of Friday, XRP is currently moving within the Major Historical Support track inside a White Ascending Triangle. This pattern has been in place since May 2022 after the cryptocurrency fell from its March high of $0.9121. XRP bulls briefly triumphed in July, breaking above the triangle before being retracted by a correction.Despite attempts by bears to drive XRP below the triangle, they were unsuccessful. This resilience is viewed by EGRAG as an encouraging indicator for the cryptocurrency's future performance. The analyst predicts an imminent breakout between the third and fourth weeks of November, which could potentially be the last opportunity for investors to purchase at lower prices.Once this breakout occurs, EGRAG expects XRP to progress through the remaining tracks of his Bent Fork model, culminating in reaching the Cycle Top and achieving the projected price of $15.The recent rally of XRP to $0.5121 was driven by Ripple's third victory against an SEC lawsuit involving executives Brad Garlinghouse and Chris Larsen. This legal win has provided a short-term boost to the cryptocurrency's value.#xrp Source: investing.com

DATE: OCTOBER 18, 2023WRITTEN BY: ABDULKARIM ABDULWAHAB (The Crypto Basic)Forbes reveals BlackRock and JPMorgan’s plan to lead a major XRP bull run in the crypto market.XRP struggles to reclaim the $0.5 price point despite the current Bitcoin rally propping up the crypto market. Meanwhile, in a recent publication, Billy Bambrough, a Senior Forbes Contributor, noted that the XRP market is primed for a substantial boost to be led by an unusual force.BlackRock and JPMorgan to Spearhead XRP BullSpecificaly, Forbes asserted that global financial giants BlackRock and JPMorgan would spearhead an XRP bull rally. According to Bambrough, the two financial behemoths are silently preparing the grounds for an upcoming surge in the cryptocurrency market.To back this claim, the senior contributor outlined multiple crypto-specific endeavors BlackRock and JPMorgan have jointly orchestrated. The report cited that BlackRock has achieved a significant milestone by becoming the first Wall Street titan to employ the blockchain-based collateral settlement program backed by JPMorgan. Forbes argued the development is a part of BlackRock’s broader crypto strategy, as its CEO Larry Fink outlined. Notably, Fink stated the aim is to usher in “the next generation for markets” [like crypto.]Furthermore, the Forbes contributor highlighted that recent reports confirm that BlackRock has utilized JPMorgan’s Ethereum-based Onyx network and tokenized collateral service to convert shares from one of its financial market funds. It mentioned that the tokenized assets were later transferred to Barclays in an OTC derivatives transaction.Besides, Forbes quoted BlackRock CEO’s previous statement where he expressed the significance of blockchain technology in their financial dealings. Specificaly, Fink described blockchain technology as “very important” in an annual letter to investors. It is worth stating that blockchain technology enables the tokenization of traditional assets. This specificaly makes the value transfer of traditional assets like stocks, bonds, and real estate more cost-effective and straightforward.Therefore, the Forbes senior contributor believes that BlackRock and JPMorgan’s coming into the crypto space amid the utility linked to the traditional market would catalyze a significant rally for digital assets like XRP, Bitcoin, and Ethereum.BlackRock News Moves MarketBesides, Forbes also backed its sentiment by citing the recent sudden uptick in the crypto market triggered by a false report. For context, the erroneous report suggested that BlackRock’s eagerly anticipated spot Bitcoin exchange-traded fund (ETF) application had received regulatory approval. The claim caused a swift bullish stir in the market after garnering attention from major news outlets.Ultimately, the Forbes Senior Contributor makes the bold claim that the Wall Street giants would spearhead the coming Bitcoin bull run by attracting major institutional demand, with far-reaching implications for digital assets like XRP.#XRP

Sat, 10/14/2023 - 18:16XRP appears oversold and may stage short-term rallyXRP, the fifth largest cryptocurrency by market capitalization, seems to be portraying oversold signals.This is as the four-hour chart displays the similitude of a "death cross" pattern, which happens when the moving average MA 50 falls below the moving average MA 200. This is regarded as a bearish indication, but instances for XRP prove otherwise. The majority of XRP's so-called "death crosses" have culminated in the crypto asset's bottoming phase. Moving average crossovers are referred to by some as "lagging indicators," as most of the time the crypto asset would have been oversold or overbought before it happened.After six straight days of trading in the red, XRP appears oversold and may stage a short-term rally. However, a look at the four-hour chart depicts something interesting: XRP is consolidating in a narrow range.While the short term remains uncertain, traders may need to pay close attention because most consolidations are typically followed by major breakouts. However, predicting the direction of the breakout with certainty may be challenging. Given that the bulls have not allowed XRP to fall below $0.47 in recent weeks, the possibility of an upside breakout grows.Author: Tomiwabold OlajideRead more on u.today

XRP finally showing some hope for investorsNews Wed, 10/11/2023While the rest of the cryptocurrency market is bleeding out, XRP is painting a picture not many are seeing. Despite the local downtrend and a breach in the local support level, there is an extremely bullish sign emerging from the ripples of the market. As of the latest data, XRP is trading at approximately $0.4884, a level that many investors are keeping a close eye on. The volume, interestingly enough, is on a decline. This is typically a bearish indication, suggesting decreasing interest in the asset. However, in the context of a price that is also descending, this falling volume points to a lack of momentum for further downward movement. It is the bears running out of steam and the bulls just biding their time.The RSI is currently at 37, edging close to oversold territory. In the trading world, anything below 30 is a shout out to investors that an asset is oversold and might invite buying pressure soon. XRP inching toward this zone is like a beacon in the night for bulls. Moreover, there is talk about $0.46 being the next significant support level, given its historical performance in September. This is not just a number but a psychological stronghold. It is the point at which the market has decided XRP has value, the point at which investors stepped in previously, bolstering the price.What is crucial here is understanding the dichotomy of the situation. Yes, the price is falling. Yes, support levels have seen breaches. But the declining volume and the nearing oversold conditions are setting the stage where a reversal could catch many off guard. It is the quiet before the storm, the market drawing in a deep breath before it erupts. In trading and especially in cryptocurrencies, the façade of the market often hides the real story. For XRP, the market might seem to be hammering it down, but in reality, it is potentially coiling the spring for a significant bounce back.Read more on U.Today https://u.today/xrp-shows-extremely-bullish-sign-amid-price-downfall#XRP #ripple

Daily ChartXRP sat below the 50-day and 200-day EMAs, affirming bearish price signals.An XRP break above the $0.5042 resistance would support a move to the 200-day and 50-day EMAs. A move through the EMAs would give the bulls a run at the $0.5470 resistance level.However, a bearish cross of the 50-day EMA through the 200-day EMA will likely pressure XRP further. A drop to sub-$0.49 would give the bears a run at the $0.47 support level.#XRP

Ripple developers, through the RippleX account on X, formerly Twitter, announced that they completed the extensive testing of the XLS-30 AMM. This is a proposed amendment that, if adopted, would bring automated swap, trading, and liquidity provisioning capabilities to XRP Ledger (XRPL). Back in July, audit firm CertiK completed the audit of XLS-30 with a successful result of no major issues, however, 35 minor issues did come up, which have since been resolved. AMMs are the underlying protocol that power decentralized exchanges (DEX) that have been in demand by Ripple users for a long time now. 

DATE: OCTOBER 9, 2023WRITTEN BY: ABDULKARIM ABDULWAHABAccording to CoinMarketCap data, XRP trades slightly above $0.51 with an insignificant price drop over the last 24 hours. Given XRP’s price far below a dollar, a notable stock and crypto investor took to the X platform to warn crypto community members about potentially regretting not buying XRP while it remains cheap.In a recent tweet, US-based X user Zenakuu emphasized the current affordability of XRP, stating that it is currently within reach for many investors. However, Zenakuu predicted that the price of XRP could soar to the point where it becomes inaccessible to retail investors. Specifically, he foresees that XRP would equate to the cost of a monthly mortgage payment. “Today, you can afford XRP, but in the near future, it will cost just as much as a mortgage payment. Don’t be that person living in regret when the time comes,” Zenakuu remarked.It is worth noting that the typical monthly mortgage payment across the United States is $1,768. This figure is based on information from the 2022 Annual Cost of Living Index by the Council for Community and Economic Research (C2ER).Therefore, Zenakuu warns the broader crypto market participants about the potential of XRP surging beyond the bounds to $1,768. Notably, the view about XRP reaching such an insane price stems from the widespread belief that XRP can potentially become a significant player in the global payments industry.Read full article at "The Crypto Basic"Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.