As a seasoned researcher with over a decade of experience in the cryptocurrency market, I have seen my fair share of bullish and bearish predictions. However, the recent ultra-bullish price prediction for XRP by analyst Amonyx has certainly caught my attention. The proposed giga pump to $400, representing an 80,000% increase, seems almost unbelievable.
According to cryptocurrency expert Amonyx, the price of XRP is expected to experience an extremely optimistic surge, potentially resulting in a staggering increase of approximately 80,000%.
XRP Price To Enjoy “Giga Pump” To $400
According to Amonyx’s recent post on X, he anticipates a significant surge in the value of XRP, dubbed an “XRP giga pump.” His chart suggests that the XRP price could skyrocket, potentially reaching up to $400. Such a price increase would equate to nearly an 80,000% rise in the crypto’s value. Amonyx bases this prediction on the Elliot Wave theory.
1 Way: According to the analysis, the potential increase to $400 symbolizes a fifth wave surge, an impulsive upward trend that’s currently unfolding. Unfortunately, the chart doesn’t specify exactly when this rapid rise will happen, but it seems to suggest a goal for the highest point in this market cycle.
It’s worth noting that around a month ago, Amonyx projected that the price of XRP might reach between $50 and $57 during this cycle, which he believed would mark his peak prediction for this bullish trend. This newer forecast indicates that he has grown increasingly optimistic about XRP’s future direction. His extremely positive view on XRP could possibly stem from the recent applications submitted by Bitwise and Canary Capital to launch XRP-based ETFs.
1) Granting these funds might entice more institutional investors towards the XRP network, boosting crypto inflows and possibly sparking a price surge. Moreover, Amonyx appears optimistic that Ripple and the SEC will resolve their ongoing dispute, meaning the lawsuit will no longer hinder XRP’s possible growth potential.
A settlement could also signal the potential approval of the pending applications for an XRP ETF since that will confirm that the Commission no longer believes that the crypto is a security.
XRP To Break All-Time High
In contrast to some highly optimistic projections, crypto analyst Jaydee has proposed a more moderate price forecast for XRP, suggesting it could reach $6.5, potentially setting a new record high (peak value) for the cryptocurrency. Meanwhile, fellow analyst Egrag Crypto has suggested that even in the most pessimistic scenario for this bull market, XRP might still climb to $5.89.
Based on the general agreement among XRP experts, it’s expected that the price of XRP will surpass its all-time high (ATH) during this bull run. Crypto analyst CrediBULL Crypto has forecasted that the value could potentially reach $10 in this market cycle, given his conviction that Ethereum might achieve a price of $10,000.
The XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defender told market participants there will be an “extraordinary” breakout starting this month.
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2024-10-14 21:40