The XRP price has caught the attention, increasing its value by over 63% this week. The successful exit pushed XRP up a notch. Accordingly, the leading altcoin now ranks 6th in the cryptocurrency market. Ripple price, which hit $0.55 this week, has since corrected 17%. Accordingly, it is currently trading at $0.49. So, will the upward movement in XRP continue? 4 analysts shared their forecasts.
“Ripple price ready to go higher”
As we reported on Kriptokoin.com, the pseudonymous analyst Altcoin Sherpa has listed the bullish predictions for the Ripple price. According to him, the leading altcoin asset will rise to $0.60 from its current price of $0.49. After reaching this level, it will rise as it breaks the $0.60 resistance. Sherpa predicts a rally to $0.87 for XRP if resistance is broken. This estimate represents an increase of over 80% from the current price for the price of XRP.
“XRP can yield huge returns in the future”
Jacob Bury, a crypto analyst at YouTube, says he doesn’t expect an ATH this year. The altcoin is down 17.25% after hitting $0.55. According to him, once the RSI entered the overbought zone at 80.77, a correction was inevitable. The analyst says that XRP has now lost the support of the 0.382 Fibonacci retracement level. Therefore, a drop to the next support trend line potentially at $0.44 awaits. However, he adds that in the long run, it will provide great returns to the market bull season.
“Follow this for Ripple price rise”
YouTuber crypto analyst Ben Armstrong explained the reason for the rise in Ripple price. According to him, the leading altcoin is rising for many reasons. However, the latest developments in the SEC case are the biggest reason for the rise. Armstrong says the SEC has given up on its quest to prove that cryptocurrency is a security. He also adds that other developments in favor of XRP in the case will support the rise. According to him, investors should follow the SEC case closely.
However, Armstrong also shared his predictions about what would happen if Ripple lost the case. According to him, if Ripple loses the case, its activities in the USA will not be banned. Instead, the company will only be fined. Therefore, Armstrong thinks that even the worst-case scenario will not deal a huge blow to the current state of XRP.
XRP is out of downtrend, is $1 near?
Ripple price successfully exited its downside trade, which lasted about 528 days. Thus, XRP has become one of the most profitable assets in the bear market. But will this rise continue up to $1? This seems unlikely due to the current SEC litigation and market situation. However, if the market turns bullish and the SEC case ends in XRP’s favor, XRP is extremely likely to exceed $1. Even a new high above $1.81 in April 2021 is possible.
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