A well-known cryptocurrency analyst on the microblogging platform X (formerly known as Twitter) has recently forecast a significant bullish $XRP price prediction after examining the token’s latest market activity. The ananlyst suggested the cryptocurrency could rise to as much as $1.36.
According to pseudonymous cryptocurrency ananlyst Cryptoinsightuk, the price of XRP will need to keep on rising to get through a key resistance level before eyeing the $1.36 mark, with expectations for this surge to occur around mid-November.
Cryptoinsightuk highlighted the positive signals on XRP’s weekly chart, particularly noting a bullish crossover in the Relative Strength Index (RSI), indicating potential upward momentum.
Another analyst, Dark Defender, has notably suggested XRP’s price could explode over 1,000% in the future at a time in which a recent cryptocurrency market recovery saw the price of the flagship cryptocurrency Bitcoin reach a 16-month high.
The rally was based on optimism on the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States, after BlackRock’s proposed iShares spot Bitcoin ETF was listed on the Depository Trust & Clearing Corporation (DTCC), which provides post-trading, settlement, custody, and information services for Nasdaq.
Early Ethereum ($ETH) advisor Steven Nerayoff, who is also a popular member of the XRP community has recently said that he believes the price of XRP has “no ceiling” and agreed it could surpass the $100 mark.
XRP has notably been outperforming a large number of altcoins over a number of factors, including the U.S. Securities and Exchange Commission (SEC) dropping its securities violations charges against Ripple’s executives, which helped the cryptocurrency achieve its largest single-day surge in months.
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