Ripple (XRP) has recently underperformed compared to most other cryptocurrencies. Now, however, this trend seems to be taking a positive turn. In the last hour, the value of XRP has risen 8%, a development that crypto analyst Tony Edward believes could be the start of significant growth.
XRP ready for a huge price increase
Tony Edward, the host of the Thinking Crypto Podcast, predicts that Ripple (XRP) will soon experience remarkable growth, with a potential increase to $1.35. This would amount to an increase of 110% compared to the current price.
Edward bases his optimism on the expectation that altcoins, including XRP, will benefit from the positive trend of Bitcoin (BTC), which is reaching new all-time highs. He states that the increased liquidity from Bitcoin will flow to the so-called mid-caps and small-caps, which includes XRP.
This prediction was made when XRP was trading around $0.55. Since then, XRP has surged 20%, peaking at $0.66 before falling back to $0.62.
Despite the current volatility and recent corrections, Edward remains convinced of XRP’s continued upward trend. He acknowledges that the path to the predicted price increase will not be without obstacles, but expects XRP’s bull market to continue this month.
Breaking downward trend line
An encouraging sign for the project is the breakout of the long-term downtrend that started when a new record high (ATH).
SEC vs Ripple
However, the ongoing lawsuit with the US Securities and Exchange Commission (SEC) is also a major concern for the future of XRP. Positive developments in this case could further influence the price. Recent deadline changes to the legal process suggest that significant results will emerge in the coming months.
Valid for 1 month: Grab your 20 Euro bonus now at Bitvavo
Are you about to discover the crypto world and are you considering buying XRP or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and the Dutch crypto exchange Bitvavo, our readers receive an exclusive offer
Only Available for 30 Days: register with Bitvavo via the button below and receive a welcome gift of 20 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
2024-03-11 15:58:52
#Ripple #XRP #rise #month
