Though XRP is currently going through a consolidation period the token could go 10x during this cycle.
XRP to Go 10x during Current Bull Cycle
Famous crypto analyst, influencer and investor, Credible crypto, has recently projected XRP’s in coming price action. Analyst noted, the XRP is currently going through a consolidation and will be followed by an expansion, which could lead token to either near an all time high of 3.84 or surpass the mark.
If these two structures look similar, it's because they are. Almost mirror images, except the current consolidaiton is a larger, longer consolidation structure.
— CrediBULL Crypto (@CredibleCrypto) October 19, 2021
He suggested that XRP would go 10x during the ongoing bull cycle. But he pointed out that this is not going to happen until multiple consolidations and expansions. Analyst asserted as we pass through these consolidation and expansions the XRP could then go up 10x. He bullishly stated that the token could go as high as $20 or $30.
SEC Lawsuit and XRP
It is to be noted here that the XRP had hit an all time high back in 2018 and since then it has failed to reach that mark again. Though the token was performing rather well until Dec 22 last year, the day when SEC filed lawsuit, alleging Ripple together with its executives of selling 1.8 billion worth of XRP token illegally as securities, during the following days XRP went down hard. Later, during April this year the token reached $1.96, thanks to Ripple’s aggressive approach in the court.
Currently trading at a 7-day high of $1.16 XRP is the world’s 7th largest cryptocurrency with a market cap of over $52 billion. The token is up 1.75% during the week.
Considering the kind of effect SEC’s lawsuit has had on XRP price action, it is pretty evident that it remains one of the most critical factors that drives the token. Many analysts are already calling Ripple victorious but it seems like there is still much more to come that could influence the token significantly.
4JNET Defi and Metaverse Project are the most sought after. Now officially launched, increasing rate is 388% within couple of hours
President Nayib Bukele, Suggests US Fed to Stop Printing Money
One Moment While We Securely Connect You To Kraken
As BTC Price Steady Above $56K, ETH and Shiba Inu Surge Significantly
XRP Price Analysis, as the Token Faces Resistance at $1
Recent Press Release
Crypto Casinos vs. XRP Margin Trading: Where Is It Easier to Increase the Odds?
Many XRP investors have recently turned to margin trading. Understandably, people want the additional thrill while the market is stagnated....
Bitcoin As a Prototype of Central Banks
Bitcoin is a computerized currency that “utilizes decentralized technology to work with no centralized system or financial firms,” according to...
Hitches that cryptocurrency can pose to the financial sector
New upcoming companies are increasingly engaging in accessing the bitcoin market. After focusing for generations on bitcoin’s capabilities, prices, operational...
Bitcoin Address- A brief overview
Anyone who wants to buy or sell anything using Bitcoin must send money from a specified location, akin to how...
Why should you prefer Blockchain Technology?
From one end of the world toward the other, blockchain technology is without question the most fiercely contested issue. Since...