The cryptocurrency world thrives on the element of surprise. The vertical is holistically known for catapulting tokens based on hype and presuppositions that sometimes help tokens regain their lost graces. With Ethereum ETFs gaining approval in recent times, echoes of XRP ETFs are also in the air, prompting Ripple to plan significant price action soon.
XRP has been consolidating for a long time and is not yet experiencing bullish momentum. The token's parent company, Ripple, is poised to forge new alliances around the world, which will help XRP break through critical price marks. For now, the token's only goal is to cross the $0.75 price threshold, after which it can embrace the bullish start of the market.
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XRP ETF Rumors Gain Strength After Standard Chartered Predictions
Analysts at Standard Chartered have predicted a new development that XRP enthusiasts can look forward to. Geoffrey Kendric, a notable analyst at SC, has shared how XRP and Solana ETFs could be next in line to receive approvals, bringing monumental changes to the crypto industry.
For other coins (e.g. SOL, Kendrick, head of forex and digital asset research at Standard Chartered Bank, told the Block
The development is currently being called “huge” for the XRP token, which is struggling to gain traction on all possible fronts. The token has not yet experienced a bullish start to the market and has been trading within the $0.50-$0.54 range for weeks.
However, the XRP community is still betting big on XRP. Egrag Crypto, another notable cryptocurrency analyst, has shared how XRP is warming up to the current bullish wave and could trade at $0.75 sooner than expected.
“#XRP Similar Pattern: Next Pump to $0.75! ✨🚀. #XRP drops below the 100 MA, consolidates and then pumps above. The next pump should start, close above the 100 MA and hold it as support to confirm the breakout. 📈💪. This time the close above the 100 MA will be significant. 🔥”
XRP Price Prediction for June
With the development of XRP ETFs in the mix, the price of XRP could see significant price changes in June. Per CoinCodexthe token could gain a decent 20% to trade at the $0.64 price level by June 25.
“The price of XRP is predicted to increase by 20.67% and reach $0.64088 by June 25, 2024. According to our technical indicators, current sentiment is bearish, while the Fear & Greed Index reads 75 (greed). XRP recorded 16/30 (53%) green days with a price volatility of 2.20% over the past 30 days. “
At the same time, the platform predicts that the token will reach $0.60 by June 2.
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“The XRP price forecast for the next 30 days is a projection based on the positive and negative trend. XRP will change hands on June 2, 2024 at $0.618708, achieving a gain of 16.50%.”
However, the Ripple XRP token could achieve significant price appreciation if the SEC vs. Ripple case finally delivers a ruling, allowing the token to reach new price heights in no time.