Amonyx crypto analysts and Egrag Crypto provided an optimistic outlook for XRP price with “something big” on the horizon. Based on your analysis, the long-awaited price break for XRP could happen soon.
Something big is coming for the price of XRP
Crypto analyst Amonyx stated in an X post that something big is coming for the price of XRP. Its accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar run it enjoyed in the 2017 bull run when its the price rose more than 61,000%.
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The graph showed that XRP it consolidated for a year before breaking out and enjoying that unprecedented recovery. In line with this, the analyst highlighted how XRP has been consolidating since then, suggesting that another price breakout is imminent.
Amonyx has recently been more bullish on the price of XRP. So far, he has predicted that the crypto would reach between $50 and $57 at the peak of this bull run. However, his recent prediction offers a more optimistic outlook for XRP. Interestingly, he also recently predicted that crypto could enjoy a “giga pump” to $400.
These bullish XRP predictions are believed to be in part due to the recent Bitwise applications and Canary Capital to offer an XRP ETF. These funds could contribute to a significant recovery in XRP as they will attract more institutional investors into the currency’s ecosystem. Therefore, these XRP ETFs will positively impact the price of XRP as well as the Spot Bitcoin ETFs did for the price of Bitcoin.
Meanwhile, in the short term, Amonyx also expects that the price of XRP could enjoy a significant recovery. In a recent post from X, he shared an XRP/Bitcoin chart and said XRP Holders that a divine candle would arrive soon.
XRP Breakout Target to Watch
Crypto Analyst Egrag Crypto $0.61 and $0.62 highlighted as breakout targets to keep an eye on. He noted that the breakout point is decreasing and added that XRP has a maximum of 70 days left before reaching the final peak of the breakout point.
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Egrag Crypto further noted that he is convinced that the price breakout could happen sooner than expected, in the next 15 to 30 days. According to him, the pressure is increasing and will not remain contained for much longer. In fact, XRP consolidation dates back to 2021 bull run when it failed to reach a new all-time high (ATH).
The $0.60 price level has also proven to be strong resistance for the coin as it has been retested and failed to surpass it several times since judge Analisa Torres handed it over. final judgment in the Ripple SEC filing in August.
At the time of writing, the price of XRP is trading around $0.55, up more than 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com