The XRP price traded sideways during the week, hovering around the $0.6 area. Despite slow price action in the last couple of days, XRP holders can be satisfied considering this area can now serve as a ground floor for potential future price increases.
The SEC rescheduled its closed-door meeting to July 25, 2024, and rumors in the crypto community suggest that this meeting is about a settlement with Ripple. All eyes will be on the outcome of this meeting on Thursday…
Many analysts see this as a bullish momentum after XRP price pumped from $0.4 to $0.6 this month already.
What you'll learn 👉
Bold XRP Price Predictions from Crypto Analysts
“JAVONMARKS,” who has 41,000 followers on Twitter, posted a viral XRP price prediction. The analyst believes that XRP is on the brink of a massive bullish breakout.
According to JAVONMARKS, with continued market strength, this breakout could lead to an over 41,400% run, potentially pushing XRP’s price to $150 or higher.
The analyst mentions a “Logarithmic Follow-Through,” which refers to a price movement pattern where the asset’s value increases exponentially over time, often visualized on a logarithmic scale chart. This type of growth suggests that each subsequent price increase becomes larger than the previous one in percentage terms.
Another analyst, Armando Pantoja, while slightly less shocking in his XRP price prediction, still foresees significant gains from current levels.
“$XRP is going to $8+ 250M #XRP accumulated since June. Breaking the $0.70-$0.75 resistance is the key to a massive rally that’s coming. The rich, elite and banks are confident….” said Pantoja.
Pantoja’s analysis suggests that breaking through the resistance level between $0.70 and $0.75 could trigger a substantial price increase. He also points to significant accumulation of XRP tokens since June, implying growing interest from investors.
Read also: Crypto Trader Updates Chainlink Prediction – Here’s Why LINK Price Will Hit $18.3
Community Strength
Ripple has an incredibly strong community, which is arguably one of the biggest strengths behind the company. This dedicated following provides support, promotes adoption, and often contributes to positive sentiment around XRP.
A more realistic approach suggests that the XRP price could potentially reach over $1 if there is positive news from the SEC meeting later this week. On the flip side, the price might revisit the $0.4-$0.5 area if the news is not favorable.
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