XRP Price Prediction: The XRP ETF approval has been buzzing around the crypto market as Brazil acknowledged Ripple’s application for an ETF (exchange traded fund). Investors excitement has increased amid the ETF approval while the crypto experts expect a potential upside upto 1,500% in price. As XRP is showing bullish momentum, the real question is Could Ripple reach $50 post its ETF approval. Check details.
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Recent XRP Price Action
XRP has experienced huge fluctuations recently after the Bybit Hack. Ripple’s price fell slightly however it’s now recovering and showing a sign of positive momentum. At the time of writing this article, XRP is trading at $2.57 while the trading volume has declined by 56% in the last 24 hours.
Key Levels to Watch
According to analysts, XRP is holding a strong support at $2.50 while it has a resistance near $2.63. If Ripple’s price drives past this resistance level then a further upside rally towards $2.85 to $3.25 could be seen in the short term. However investors need to keep these key levels in mind while setting up their trading.
XRP Price Prediction
XRP (Ripple) is a popular AltCoin among crypto investors. In the previous bull run, XRP Price gained momentum delivering huge returns more than 330% in the last 6 months. This bullish momentum not only attracted new investors but also made XRP the third largest cryptocurrency.
Analysts predict that XRP Price could surge by 1,500% in the next few months and reach $30 post US SEC approval for the ETF.
Also Read: Pi Network: Don’t Sell Pi Coin, Crypto Expert Sees Massive Upside Potential After 71% Crash
XRP ETF Could be Game Changer in the Crypto Market
XRP ETF approval could be a massive game changer in the cryptocurrency market as investors seeing Ripple as a potential alternative to Bitcoin. Investors can diversify their portfolio rather than investing only in Bitcoin and Ethereum. With US Securities and Exchange Commission approves ETF of XRP then a similar success could be seen as Bitcoin ETFs.
Could Ripple Reach $50
Predicting accurate price targets for high volatile asses like crypto are nearly impossible. However there are several factors that analyst consider while predicting the future price of a cryptocurrency.
Analysts however are optimistic on XRP amid the potential XRP ETF approval in the US. If US Securities and Exchange Commission (SEC) acknowledges, then Ripple’s price is expected to explode potentially reaching $30 in the coming months. However it is unlikely XRP will reach $50 in the short-term despite growing investors interest and ETF approval in US.
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