XRP Price Predicted to Break $400 by This Crypto Analyst

Bittime - Coin XRP is predicted to experience an extraordinary price spike or what is called a "giga pump." Amonyx, a crypto analyst, said that the price of XRP has the potential to rise up to 80,000% in the near future. 

The price of this coin is predicted to increase to $400 or around Rp. 6 million, indicating the potential for fantastic profits for holders of this coin.

Why is the analyst so confident that XRP will rise? Check out the complete review in this article.

Can XRP Reach IDR 6 Million per Coin?

In his upload on X (formerly Twitter), Amonyx predicted that XRP could reach the price $400 (Rp. 6.2 million) per coin. If these predictions come true, XRP will experience an unprecedented surge in crypto history. 

According to Amonyx, this prediction is based on Elliot Wave theory, a technical analysis method that projects price movement patterns.

Also read: XRP Price Prediction 2024-2030: Potential to Break New ATH?

The analyst revealed that the XRP price movement towards $400 was part of wave 5, an impulsive wave indicating a strong bullish trend. 

However, the charts included in the analysis do not show exactly when this spike will occur. However, this price spike is predicted to occur at the peak of the current market cycle.

XRP Price Prediction More Optimistic

Interestingly, about a month ago, Amonyx predicted that the price of XRP would only reach a range $50 to $57 (Rp. 780,000 to Rp. 889,200) in this bull run cycle. 

However, with his latest predictions, it is clear that Amonyx is increasingly optimistic about the future of XRP. This optimism is largely due to Bitwise and Canary Capital's plans to launch Exchange-Traded Funds (ETF) based on XRP.

If this XRP ETF is approved, institutional investors are expected to start pouring into the XRP ecosystem, driving massive fund flows and triggering a significant price rally. 

Apart from that, Amonyx also believes that the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple will soon end with an amicable resolution.

This legal settlement is very important, because if the SEC no longer considers XRP to be a security, then the chances of approval of an XRP ETF increase. This will pave the way for more significant price growth.

Also read: Following Bitwise, Canary Capital Files for Spot XRP ETF

XRP Could Break All-Time High Price

Amid this great optimism, other analysts gave more conservative predictions. Jaydee, one of the crypto analysts, predicts XRP will reach $6,5 (Rp101.400) as a new record high price. Meanwhile, analyst Egrag Crypto stated that the price of XRP will at least rise by up to $5,89 (Rp91.884) in the worst case scenario of a bull run this time.

CrediBULL Crypto analysts also believe that XRP can achieve $10 (Rp156.000) in the current market cycle, based on his belief that Ethereum (ETH) will reach $10,000 (Rp. 156,000,000).

Currently, the price of XRP ranges between $0.5 to $0.6 (Rp. 7,800 to Rp. 9,360) and is in a consolidation phase. However, crypto analyst Dark Defender advises investors to get ready, as he predicts there will be an “extraordinary surge” starting this month.

Conclusion

Overall, analysts agree that XRP will print new highs in this bull run. Despite varying predictions, ranging from conservative to optimistic targets, all eyes are now on XRP. 

Will this crypto asset really experience the huge surge that Amonyx predicts, or will it hit a more moderate target? Certainly, investors should prepare for the potential for major changes in the market in the coming months.

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