The XRP price has been on the investorsâ radar lately, with many anticipating a strong rally in the coming days. Amid this, a top crypto market analyst said that the crypto is poised to hit $1.10, before a massive breakout to over $6 and beyond. This prediction has fueled market optimism, especially amid a series of positive market developments that could boost the Ripple native crypto in the coming days.
XRP Price To Hit $1.10, Top Expert Predicts
The XRP price has noted volatile trading lately, due to broader market uncertainties and the ongoing Ripple Vs SEC lawsuit. The Ripple case has entered the appeal phase, which has initially sparked concerns among investors. However, as the US SEC didnât challenge the courtâs ruling over XRPâs security status, many in the crypto community remain optimistic about the cryptoâs future.
In a recent podcast, popular crypto market figure Bitboy predicts XRP price to hit $10, citing a clear regulatory path and other market conditions. Echoing the bullish sentiment, another top crypto market expert, EGRAG CRYPTO also shared a similar forecast which has caught eyes of the investors.
In a recent X post, EGRAG CRYPTO shared an XRP price chart and said that the crypto is likely to hit $1.10. However, the analyst noted that this $1.10 mark is the âignition stageâ, which he also deemed as a âlaunchpadâ for further rally.
Meanwhile, the expert said that after Ripple cryptoâs close above the $1.10 support, it is unlikely that the crypto would fall below the $1. Besides, it could also set the path for a potential rally for the crypto to $6.4 or even $13, which has bolstered the market sentiments.
Will Ripple Developments Aid In The Rally?
Recently, a flurry of positive market trends appears to have boosted the market sentiment over a potential XRP price rally. For context, the declining stake of Ripple in Escrow has sparked market optimism, a development that has also been lauded by the pro-XRP lawyer Bill Morgan recently.
On the other hand, Ripple CEO Brad Garlinghouse also shared key market developments, that have gained attention from the investors. In a recent X post, Garlinghouse highlighted the growing institutional interest in XRP, as evidenced by the recent ETF filings by 21Shares, Bitwise Invest, and Canary Capital. These filings, if approved, are expected to provide a robust boost to the cryptoâs price, which could potentially send it to a new ATH.
Meanwhile, XRP price today was down 0.8% and exchanged hands at $0.5071 during writing, while its trading volume remained flat at $1.02 billion. Furthermore, CoinGlass data showed that XRP Futures Open Interest fell 1.3% to $686 million, indicating a muted interest from the investors.
However, the recent muted trading appears to be due to the US Election. The market has been anticipating a highly volatile trading scenario for some time now due to the US election, with many anticipating a strong rally in the coming days. A flurry of experts, citing historical trends, predicts Bitcoin price and the top altcoins to rally going forward, potentially hitting new ATHs.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
â Share: