XRP Set to Surge to $22 in the Upcoming Bull Market Rally

Reaper Financial's founder, Patrick Riley, harbors optimism for Ripple's (XRP) prospects in achieving an unprecedented peak.

Xrp Set To Surge To $22 In The Upcoming Bull Market Rally_65b97211c861a.webp

Technical Analysis

XRP/USD witnessed a 1.19% decline in the past 24 hours.

Examining the hourly chart reveals a downturn in XRP’s price following a false breakout above the resistance level at $0.6215. Absent any significant changes before the day concludes, the likelihood of a decline to the $0.61 range is considerable.

xrp set to surge to 22 in the upcoming bull market rally 65b97211cb15d

Zooming out to a larger time frame, XRP’s current trend leans more towards bearish than bullish, marked by its failure to reclaim the $0.64 zone.

Should this trend persist, traders should brace for a potential test of the support level at $0.5860.

A parallel scenario unfolds on the weekly chart. If the bar concludes in proximity to the support, indications point towards an impending breakout, leading to a descent towards the $0.55 zone by month-end. As of press time, XRP is valued at $0.61625.

XRP Will Hit $22 in The Next Bull Market Run

Cryptocurrency analyst Zach Rector has made a bold prediction regarding XRP, suggesting that the digital currency could surpass the $22 mark in the upcoming bullish market.

Rector discussed several projects developed by his team at Reaper, emphasizing the utilization of the XRP ledger, which is expected to fuel its growth potential and subsequent price increase.

XRP Ready For 1,500% vs BTC As Tether Partners With FBI & Secret Service!https://t.co/jRGRvwnRtw

— Zach Rector (@ZachRector7) December 17, 2023

The cryptocurrency startup founder informed users that introducing the Ethereum Virtual Machine (EVM) sidechain to Ripple would enhance the network’s development. Rector views Ethereum as a slow and costly network, describing it as a “dying and limping horse for a long time.” Projects are expected to pivot towards XRP with EVM as a faster and more cost-effective option. He predicts a migration of tokens from Ethereum to the XRP ledger.

Related: Ex-Goldman Sachs Executive Seizes ‘Lifetime Opportunity’ with Bold XRP Investment

In a bold prediction during an interview, the CEO of Reaper Financial expressed his expectation that XRP will surpass Bitcoin to become the number one cryptocurrency.

Bitcoins and Eth’s dominance is slowly falling away and that only means ONE thing: 𝐀𝐋𝐓𝐒𝐄𝐀𝐒𝐎𝐍 🚀

Prepare to explode $XRP (I hope everyone has their bags packed) 💼#BTC #ETH #XRP pic.twitter.com/y4dRmF26np

— Chloé XRP 🇬🇧 (@Chloe_Le_Pen) December 17, 2023

Apart from integrating EVM sidechains, the CEO also discussed the XLS-30 upgrade to introduce Automated Market Makers (AMM) for XRP. He mentioned that this could potentially increase the list of XRPL tokens delisted from exchanges due to their volume, subsequently contributing to the tokens’ price appreciation.

(100 votes)

5.0/5

(100 votes)

Latest

Crypto Market Faces Volatility Ahead Of Trump Tariff Pause Expiration

News | Editor Choice | Policy & Regulations

Crypto Market Faces Volatility Ahead of Trump Tariff Pause Expiration

The crypto market is entering a sensitive phase as the Trump tariff pause nears its end and nearly $15 billion in Bitcoin options are set to expire, putting significant pressure on investor sentiment.

Pi Coin Faces Selling Pressure Ahead Of Pi2day

News | Editor Choice | Pi Network

Pi Coin Faces Selling Pressure Ahead of Pi2Day

Ahead of the Pi2Day event on June 28, Pi Coin is under strong selling pressure while Pi Network announces a series of new updates, including the KYC Sync feature and upgrades to the Pi Browser aimed at improving user experience and accelerating the transition to Mainnet.

Bitcoin Could Drop To $100,000 Soon

Bitcoin | Editor Choice

Bitcoin Could Drop to $100,000 Soon

Although Bitcoin has surged following the stabilization of the Middle East situation, it could still fall below the 100,000 USD mark in the near future.

Coinbase Stock Hits New High As Analysts Split On Future Rally

News | Altcoin | Editor Choice | Policy & Regulations

Coinbase Stock Hits New High as Analysts Split on Future Rally

Coinbase (COIN), the crypto exchange giant, has just set a new all-time closing high, despite growing concerns that the stock may be due for a short-term correction.

Ai Crypto App Users Double This Year

Editor Choice | Altcoin

AI Crypto App Users Double This Year

According to a report from DappRadar, there are approximately 4.5 million wallets using AI applications on the blockchain, marking an 86% increase this year.