Ripple’s XRP has become one of the most popular cryptocurrency for analysts in recent times. Since the legal dispute with the U.S. Securities and Exchange Commission (SEC) cooling down, price prediction for XRP has turned highly optimistic.
XRP could be on the brink of a historic price surge, according to crypto analyst Javon Marks we are potentially looking at a 800% rally, pushing the price as high as $21 in the coming waves. In his chart analysis of XRP, Marks highlighted a major breakout based on Fibonacci extension levels. He pointed out that the price will move up to the 1.618 Fib level, and this might not be the end!
Mark is not alone in this highly optimistic price prediction as Bitcoin maxi Davinci Jeremie also gave a target of $20 a few months back. While Mark’s chart indicates a breakout pattern based on previous consolidations aligning with massive upwards thrust, his secondary target of 2.272 Fib level is startling even for us. If achieved, XRP could rise above $152.
For XRP price to realistically get this valuation, a lot of positive developments are required, starting with the finalization of SEC settlement followed by getting clean chit on XRP not being a security. Apart from this, to get more attention from institutional investors and traders, spot XRP ETFs need to get the approval from the SEC.
According to Standard Chartered’s prediction, these ETFs could see an inflow of $4-8 billion in the first year after launch. It could boost the XRP price as institutional demand grows owing to these inflows.
Also Read: BlackRock to File for Spot XRP ETF Today: Fact Check
