XRP Price Prediction: Analyst Forecasts ‘Giga Pump’ to $400
XRP Price Set for a Massive Surge? Analyst Predicts ‘Giga Pump’ to $400
Get ready for a potential rocket ride! Crypto analyst Amonyx has made an incredibly bullish prediction for the XRP price, forecasting a monumental surge that could see the cryptocurrency reach a staggering $400. This represents an almost 80,000% price increase from current levels.
Amonyx, using the Elliot Wave theory, believes that XRP is poised for a wave 5 impulsive move, signaling a parabolic rise to the $400 target. While the exact timing of this surge remains unclear, the analyst suggests it could mark the peak of the current market cycle.
This recent prediction comes after Amonyx previously forecasted an XRP price of $50 to $57 during this bull run. His increased bullishness on XRP could be attributed to recent developments, such as the filings for XRP ETFs by Bitwise and Canary Capital.
These filings, if approved, could attract institutional investors into the XRP ecosystem, boosting demand and potentially driving a significant price rally. Amonyx is also confident that the ongoing legal battle between the SEC and Ripple will soon come to an end with a settlement, removing a key obstacle to XRP’s growth.
A settlement could further pave the way for XRP ETF approvals, as it would signal the SEC’s acceptance of XRP as a non-security. While Amonyx’s prediction is highly bullish, other analysts are also optimistic about XRP’s future.
Crypto analyst Jaydee has set a more conservative price target of $6.5, which would represent a new all-time high for XRP. Egrag Crypto also predicts XRP will reach at least $5.89 in this bull run.
Even though XRP has been consolidating in the $0.5 to $0.6 range, crypto analyst Dark Defender anticipates an ‘extraordinary’ breakout starting this month. The consensus among analysts seems to be that XRP will at least reach a new all-time high in the current bull run.
While these predictions are exciting, it’s important to remember that the cryptocurrency market is highly volatile and subject to change. Always conduct your own research and never invest more than you can afford to lose.
Stay tuned for further developments in the XRP market and the potential for this predicted ‘giga pump’ to materialize.