XRP has attracted attention in the crypto market by showing a significant increase in the last 24 hours. The XRP/BTC pair reached its highest level since March. Analysts predict that this trading pair is poised for a major price movement and the uptrend may continue.
In the last 24 hours, XRP has increased by 7%, and this sudden rise has redirected investors' attention to XRP. The XRP/BTC pair recently reached the 0.0000099 BTC level; This represents an increase of almost 60% in two months. Analysts state that the XRP/BTC ratio has begun to narrow and a major price movement may be imminent. XRP's technical charts, particularly the recent daily candle, show that it has peaked above resistance levels following last year's Ripple victory. This technical break has increased hopes among investors that XRP may enter a long-term uptrend.
XRP's latest performance resembles a huge rise after Ripple's legal victory with the SEC last year. Ripple's success in the SEC case had caused a significant increase in the price of XRP, and expectations that a similar rise could occur again create positive views on the future performance of XRP. This creates a belief among investors that the potential of XRP is still strong.
There is also speculation in the crypto community about the possibility of an XRP ETF. Although Ripple CEO Brad Garlinghouse has stated that an XRP ETF is inevitable, it is not expected to happen anytime soon. This view is supported by statements confirmed by BlackRock, which stated that it does not plan to launch new ETF products anytime soon. Many analysts think that XRP lacks the market readiness, volume and funds needed to enter the ETF market.
According to analysts, market preparation and volume deficiencies required for XRP to enter the ETF market are among the important obstacles. The overall volatility of the cryptocurrency market and regulatory uncertainties also make it difficult for XRP to be considered an ETF. As a result, XRP's strong price movements and positive opinions from analysts continue to attract investors' attention. XRP's future performance will be shaped depending on technical analysis and market dynamics. Additionally, speculation on the XRP ETF gives hope about the future growth potential of XRP. However, regulatory uncertainties and market conditions will play a critical role in determining XRP's future performance. Whether XRP can sustain its upward movement will largely depend on these factors.
If the bulls go through a healthy consolidation process throughout the rest of the year, it is predicted that the Ripple (XRP) price could reach the $1 milestone by the end of the 3rd quarter or the beginning of the 4th quarter of 2024.
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