Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst Remi has predicted that the XRP pricecould hit $1,200. The analyst also highlighted factors that could spark this 50,000% increase for the altcoin even as it crashes alongside the broader crypto market at the moment. Analyst Predicts XRP Price Will Hit $1,200, Here’s Why
In an X post, Remi stated that the charts are now showing that an E-wave rally to $1,200for the XRP price. The analyst noted that in 2017, the altcoin recorded a 76,000% gain, with no utility and driven solely by retail speculation. However, this time around, XRP only needs a 50,000% gain to reach this target, and it has utility and institutional FOMO, which makes this projected target more promising. Related Reading Analyst Reveals The Chances Of The XRP Price Rallying 300% To $9 This Bull Run 2 days ago
This institutional FOMO is expected to come through the XRP ETFs, which are set to be approved by the SEC once the U.S. government shutdown ends. While these funds are expected to drive new liquidity into the XRP ecosystem, it remains to be seen how much impact they will have on the XRP price.
Meanwhile, Remi advised XRP holdersto take profits as the XRP price records this projected parabolic rally. He added that they should take profits at different intervals, because a black swan event could happen out of nowhere before they reach the ‘E Wave.’ The analyst also mentioned that no one can ever time the top, which is why it is best to take profits along the way up.
This XRP price prediction comes as the altcoin declines alongside the broader crypto market. XRP is trading just above the psychological $2 level as trade tensions between the U.S. and China, along with other macro factors such as the prolonged U.S. government shutdown, spark bearish sentiment in the market. XRP Could See Another Leg Down Before A Reversal
Crypto analyst CasiTrades indicatedthat the XRP price could see another leg down before any bullish reversal. This came as she noted that the altcoin isn’t showing the strength that would invalidate the final wave down, and that price is stalling right around the Wave 4 resistance levels. Related Reading The XRP Price Roadmap To $8: How An Over 50% Bounce Could Materialize 2 days ago
CasiTrades further stated that if the current XRP price action were a deep V-shaped recovery, then there should have been a strong breakout above key resistance at $2.82. However, that breakout hasn’t come, which is why she is leaning towards the market needing one more wave down for full exhaustion and a change of sentiment. The analyst predicted that a retest of the .618 retracement around $1.46 or the golden pocket near $1.35 is possible for the next wave down. Source: Chart from CasiTrades on X
At the time of writing, the XRP price is trading at around $2.33, down in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $2.37 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com