As a seasoned analyst with over two decades of experience in the financial markets, I have seen bullish predictions come and go. However, the recent forecast by Myles G Investments for Ripple’s XRP to hit $3 by Christmas has piqued my interest.
As a crypto investor, I’ve experienced a surge in XRP‘s price breaking the $0.66 barrier, which has ignited hope and anticipation within the market. However, this rally seems to have been brief, as suggested by the subsequent fluctuations in the cryptocurrency world. Amidst this recent downturn, a well-known crypto market analyst foresees a bullish prediction for Ripple‘s native currency by Christmas.
Analyst Predicts Bullish Christmas Forecast For Ripple’s Native Crypto
In a recent X post, prominent crypto market expert and influencer, Myles G Investments predict the XRP price to hit $3 by Christmas. This forecast has sparked optimism among investors, especially after XRP broke through major price levels recently.
In his social media post, the expert said “XRP $3 by Christmas. Laugh now. Cry later”, fueling market discussions. In addition, when a user queried if the level would be the cycle top, he replied that it would just be the bottom of the bull cycle, further sparking discussions.
Simultaneously, this optimistic prediction arises during a time when the market already holds a favorable outlook. For example, the cryptocurrency market is looking forward to a bullish October based on past trends. Furthermore, both Bitcoin and leading altcoins often exhibit a rising trend in the last three months of the year.
As a researcher closely monitoring the cryptocurrency landscape, I’m excitedly following its trajectory, with anticipation that the bull run will persist throughout this quarter. Simultaneously, the encouragingly dovish tones from Federal Reserve Chair Jerome Powell and other central bank officials regarding their monetary policy have added a layer of optimism to the market.
What’s Next For XRP Price?
Today, the price of XRP saw a significant drop, decreasing approximately 5% to reach around $0.62. Earlier, it had briefly risen to $0.6622 in the past 24 hours. At the moment of writing, there was relatively low trading volume, suggesting that investors are currently choosing to remain on the sidelines.
Currently, several individuals within the cryptocurrency community attribute the recent subdued trading activity to the pending possibility of a US Securities and Exchange Commission (SEC) appeal in the Ripple case. Notably, a former SEC attorney has emphasized a significant benefit for the commission if it decides to proceed with an appeal strategy.
Nevertheless, even with their predictions, the financial experts still seem optimistic. With a 10% increase in value over the past month, a recent examination of XRP suggests it may reach $1 in the near future, given the ongoing cryptocurrency rally.
Looking at all factors, it appears the market is quite tense and closely monitoring Ripple’s cryptocurrency. In particular, the speculation and hope in the market have been heightened by Myles G Investments setting a $3 price target for Christmas.
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2024-09-30 22:51