TL;DR
- XRP lags behind other cryptocurrencies in gains but is predicted to rise significantly due to positive technical indicators and a potential legal victory in the Ripple v. SEC case.
- Analysts foresee the asset reaching between $2.90 and $16.10, with some envisioning even higher prices if certain conditions are met.
The Next Potential Targets
The cryptocurrency market has flashed green today (July 1), with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many more charting substantial gains. Ripple’s XRP lags behind the pack, registering a mild price increase of 1.1% on a daily scale and currently trading at around $0.47 (per CoinGecko’s data).
Some analysts, though, believe the asset is yet to experience a bull run, envisioning a rise to a new all-time high. EGRAG CRYPTO – an X user who often touches upon the matter – noted that XRP’s monthly time frame candle formation closed above a major resistance level known as the Fibonacci 0.236. The trader described the move as a “natural consolidation,” expecting a jump to Fibonacci 1.618 ($6.40).
Brett Hill and Armando Pantoja were also bullish. The former suggested that XRP’s next target could be between $2.90 and $16.10, while the latter presented three important factors that could trigger a price jump toward the $5 milestone.
One of those includes a resolution in the Ripple v. SEC legal battle , which has been dragging on for over three years. The case is currently in its trial phase, with the company seemingly having the upper hand after securing three vital (yet partial) court victories throughout 2023.
Each triumph triggered a price rally for XRP, and many industry participants think the asset will rally once again in the event of a decisive Ripple win. Those curious to learn more about the lawsuit and its potential impact on the token’s valuation, feel free to take a look at our dedicated video below:
Previous Forecasts
Last month, EGRAG CRYPTO predicted an XRP rally based on the low Relative Strength Index (RSI) as of late. The technical analysis tool measures the speed and change of price movements and varies from 0 to 100. A ratio of above 70 indicates that the asset might be overbought and headed for correction. Data shows that this level was crossed only three times in the past 30 days, currently standing at around 56.
JAVON MARKS – another X user who often speculates on XRP’s movements – envisioned a price explosion to $20 “and even higher” should the asset mirror its performance from previous years.
