Crypto Expert Raoul Pal Predicts XRP Prices Will Continue to Rise from This Point
Reasons for Confidence
A rigorous editorial standard prioritizing accuracy, relevance, and neutrality
Developed by professionals in the industry and thoroughly evaluated
Commitment to the highest principles in journalism and publishing
A rigorous editorial standard prioritizing accuracy, relevance, and neutrality
The quality of the content is assured via significant expertise and thorough assessments.
Este artículo también está disponible en español.
Cryptocurrency veteran Raoul Pal has expressed optimism regarding the XRP price, suggesting it still has potential for further gains. The altcoin is positioned to possibly reach a new all-time high (ATH) as it climbs.
XRP Price Set for Another Upward Movement
In a YouTube segment, Pal noted that the chart for XRP is impressive and indicated that its price is likely to experience another upward movement. His analysis included a chart depicting a bull flag that has emerged for the altcoin over the past year, following its rapid rise to the $2 range. Currently, its price is consolidating, with a breakout typically expected after this phase.
Additional Insights
Per the analysis, the price may surge to approximately $5, establishing a new ATH for the altcoin. Notably, prior to its recent surge, the market veteran had advised investors to divest from legacy coins like XRP and ADA. However, after the price surge, he acknowledged his prior stance was incorrect and has now adopted a bullish outlook on the altcoin.
This forecast comes with the introduction of the CME XRP and Micro XRP futures, which are considered bullish for its price. These instruments will offer institutional investors a chance to engage with the altcoin and are also crucial for the potential approval of a Spot XRP ETF. According to crypto analyst BarriC, an XRP ETF could significantly propel prices toward $10.
In the near term, crypto analyst Ali Martinez has indicated that the XRP price might experience a pullback before it trends higher. He mentioned in a social media post that the asset could drop to $2 if it loses the vital $2.30 support level. Additionally, crypto analyst CasiTrades warned of a potential correction for the altcoin after it struggled to maintain levels above $2.6.
The Altcoin May Reach ATH After This Adjustment
Crypto analyst Dark Defender has suggested that XRP’s price could attain its ATH following this market correction, asserting that the pathway to the ATH is closer than anticipated. This analysis followed his reveal that the token has completed the A Wave and is currently in the B Wave of Wave 2, indicating that the corrective wave is nearing its midpoint.
Additional Insights
The analyst anticipates that the XRP price could climb to $3.333 after completing the B and C Waves in this corrective phase. Key support levels to monitor include $2.3502 and $2.2222, while potential resistance levels to watch are $2.58 and $3.3333.
At the time of this report, the XRP price is trading around $2.38, reflecting a gain of more than 2% in the last 24 hours, based on data from CoinMarketCap.
Post Comment