Altcoin
Analyst Reveals When The XRP Price Will Hit $17
Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, the analyst predicted that XRP could hit $17 and revealed when the crypto could reach this price target.
When The XRP Price Could Hit $17
In an X post, Egrag Crypto predicted that the XRP price could hit $17. His accompanying chart showed that XRP could reach this price target sometime next year. This came as he remarked that the “bounce off is real” with a potential rally to between $15 and $17.
The crypto analyst assured that the bullish pennant formation remains intact, which could send XRP to this $17 target. However, he cautioned market participants not to celebrate until the crypto closes above $3.40. According to him, nothing is confirmed until XRP has a breakout with solid confirmation.
Egrag Crypto also stated that the conservative target of $15 represents the measured move of the pole leg from the lower end of the pennant. Meanwhile, the normal measured move is the pole leg from the top of the pennant, which puts the XRP price at $17.
Alluding to his accompanying chart, the crypto analyst noted that the yellow line has been XRP’s support so far and that the price is respecting this support level. He further touched on how crucial this line is for this bullish setup, stating that a break below the yellow line could signal a very bearish trend.
This bullish outlook for XRP comes just days after the crypto analyst predicted that XRP could reach $110 in the next market cycle. Crypto analyst Andrei Jikh also alluded to bullish fundamentals, such as the potential end of the Ripple lawsuit, as part of the reasons why the crypto could reach $100.
A Rally To $3.35 Could Be Imminent
Crypto analyst Ali Martinez suggested that the XRP price could rally to $3.35 imminently. He noted that the crypto is following a cup-and-handle pattern and that a breakout of this bull pattern could set the stage for a move toward $3.35.
In an earlier analysis, the analyst had stated that XRP could face a brief pullback, as the TD Sequential indicator flashed a sell signal on the 4-hour chart after a 22% price surge. However, that bearish setup looks to be invalidated by the bull pattern that the analyst recently highlighted.
The XRP price is flying high at the moment, having gained over 13% in the past seven days. This has come amid the US SEC’s acknowledgment of Grayscale’s XRP ETF and 21Shares’s XRP ETF filings. This development has provided some bullish momentum for the crypto as market experts believe there is a huge chance that the Commission could approve these funds.
Furthermore, crypto community members have also opined that the SEC has, through the acknowledgment, made it clear that it considers XRP a commodity and not a security, as Gary Gensler’s administration earlier labeled it.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Egrag Crypto has provided an ultra-bullish outlook for the XRP price, predicting it could hit a $3.4 trillion market cap. The analyst revealed how this could happen and also boldly asserted that the crypto could hit a trillion market cap in this cycle.
How The XRP Price Will Hit $3.4 Trillion Market Cap
In an X post, Egrag Crypto predicted that the XRP price would hit a $3.4 trillion market cap at some point. The analyst explained this was possible based on a Logarithmic measured move, which puts XRP’s market cap at $3.4 trillion.
Meanwhile, the crypto analyst noted that the non-logarithmic measured move puts the crypto’s market cap at $200 billion. Egrag Crypto further remarked that these logarithmic charts are used for long-term analysis of exponential growth, and linear charts are for short-term precision in trade entries and exits.
Based on XRP’s circulating supply, this means that the XRP price could reach $58 if the crypto hits a $3.4 trillion market cap. Meanwhile, XRP could reach a new all-time high (ATH) of $3.5 as it hits a market cap of $200 billion based on the non-logarithmic measured move.
Interstingly, Egrag Crypto asserted that XRP could hit a trillion market cap in this market cycle. He revealed that the Fibonacci 1.618, often referred to as the golden ratio, is sitting at $978 billion, which makes a $1 trillion market cap achievable.
The analyst further explained that XRP’s market cap skyrocketed 15,000% in the last cycle from just above Fib 1.0 to the top. As such, he is confident that the crypto hitting the Fib 1.618 or a $1 trillion market cap is “super doable.”
Egarg Crypto also suggested that XRP could even surpass the $1 trillion market cap, stating that these calculations don’t account for when utility kicks in. It is worth mentioning that the crypto analyst recently predicted that the XRP price could reach $110 in the next cycle.
What Needs To Happen For Bullish Continuation
The XRP price is rebounding following a crypto market crash yesterday. Egrag Crypto stated for a bullish continuation and to negate the bearish count, XRP needs to close above $2.69 and $2.73 on the 4-hour time frame or even higher time frames to yield even better results.
Crypto analyst Ali Martinez stated that XRP looks to be breaking out of an ascending triangle on the lower time frames, setting it up for a potential 4% move toward $2.68.
Crypto analyst Dark Defender also suggested that the XRP price was ready to continue its upward trend. According to him, XRP is proceeding based on his projected lines. He remarked that after the corrective Wave 2 move, XRP will continue with the 3rd to 5th Waves on the daily chart.
The analyst revealed that the support levels to watch out for are $2.4467 and $1.9996. Meanwhile, the resistance levels to watch out for are $2.6052, $3.3999, $5.8563, and $8.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a surprising turn of events, Brazilian Securities and Exchange Commission (CVM) approved the country’s first spot XRP exchange-traded fund (ETF). Reportedly, the SEC authorized the XRP ETF application submitted by asset manager Hashdex, paving the way to launch the first XRP ETF in Brazil.
In addition, the US SEC has acknowledged a fourth XRP ETF application, sparking optimism in the crypto space. Following Grayscale, 21Shares, and Bitwise, the US SEC acknowledged CoinShares’s XRP ETF application.
Brazilian Watchdog Approves Hashdex’s XRP ETF
According to a recent report released by local media Portal do Bitcoin, Brazilian Securities Commission (CVM) approved Hashdex’s spot XRP ETF application. This achievement represents a major breakthrough for Hashdex and Brazil, with the country’s first-ever XRP ETF receiving approval.
Though Hashdex has confirmed the CVM’s XRP ETF approval, the asset manager hasn’t unveiled the product’s official launch date. However, the platform asserted that the key updates would be released soon.
Brazil’s Visionary Approach to XRP and Crypto
Brazil is one of the leading global powers to embrace the crypto industry. Recognizing the industry’s potential, Brazil has taken the initiative to foster its growth. Reportedly, Brazil’s cryptocurrency market saw transactions totaling nearly $90.3 billion between July 2023 and June 2024, cementing its status as Latin America’s second-largest market.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a surprising turn of events, Mantra Finance has marked a major milestone by obtaining a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This move enables Mantra to expand its operations to the UAE and MENA region. as a licensed Virtual Asset Exchange. Driven by the significant development, the OM price has seen a notable uptick, with analysts maintaining a bullish outlook on its future growth prospects.
OM Price Targets $15: Bullish Rebound on the Horizon?
Surprisingly, Mantra’s OM token is exhibiting a bullish rebound, surging by nearly 100% in a month. While Bitcoin is still trading below the $100k level, the OM price is eyeing notable gains, with analysts remaining optimistic about its future trajectory.
In a recent X post, market expert Rachel Crypto predicted that the OM price would hit $15 in the near future. While Rachel Crypto asserts that the token is breaking out, many analysts have corroborated her remarks.
Analysts are increasingly bullish on OM’s price prospects. KCM predicts a modest yet promising target of $8.5, while Dexter takes a more optimistic stance, eyeing $10 as the token’s next milestone. However, Jane Bennet offers the most aggressive forecast, envisioning OM reaching a critical juncture at $20.
Mantra Finance Secures VASP License in Dubai
Notably, the OM price’s current uptrend and potential movements are triggered by Mantra Finance’s recent acquisition of the VASP license in Dubai. Reportedly, Mantra obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
Significantly, the license will enhance the platform’s global reach, enabling the launch of innovative financial products. It also facilitates the expansion of Mantra’s Middle Eastern operations, particularly in tokenizing real-world assets (RWAs).
Commenting on the milestone, Mantra CEO Patrick Mullin stated,
By establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion.
This development follows crypto exchange Bitget’s recent acquisition of the VASP license from Bulgaria’s National Revenue Agency.
Bullish Frenzy: Will OM Join the Crypto Top 10?
As of press time, the OM token is trading at $7.52, up by 1.21%. On a weekly and monthly basis, the OM price has registered significant hikes of 30.5% and 100.5%, respectively. As per OM price prediction, the token has the potential to reach an impressive $10.10 in 2025.
Boasting a market cap of $7.38 billion, OM is ranked 22nd on CoinMarketCap. The current bullish momentum has strengthened analysts’ positive perspectives surrounding the token. Analysts like Bitt Belle maintain that OM is on track to enter the top 10 cryptocurrencies list.
Moreover, the 24-hour trading volume of $382 million, representing a 31% increase, serves as a clear indicator of the escalating investor sentiment. The prevailing upward momentum and growing market activity highlight the OM price’s possible market upswing.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Story (IP) Becomes Top 10 AI Coin, Surpasses VIRTUAL
SafeMoon’s 190% Rally Cools as Momentum Fades
Iranians Increasingly Use Crypto to Take Funds Out of the Country
Why The US SEC Hasn’t Paused Its Case Against Ripple
Analyst Predicts XRP Price To Hit $3.4 Trillion Market Cap, Here’s How
The Altcoins Trending Today – February 19
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market23 hours agoTether Co-Founder Builds Pi Protocol, A Competing Stablecoin
-
Market11 hours agoEthereum Price Eyes Key Breakout—Will Momentum Lead to a Surge?
-
Altcoin11 hours agoVanEck Exec Remains Optimistic On LIBRA Meme Coin Despite Rug Pull Concerns
-
Market22 hours agoIP Price Surges 11%, Market Cap Now Crossing $500 Million
-
Altcoin8 hours agoBinance To Delist DOGS, FET, & These 2 Crypto, What Lies Ahead?
-
Market19 hours agoCrypto Wallets to Overtake Exchanges for Daily Use
-
Market12 hours agoGalaxy Executive Denies SPX Token’s Alleged Sale by Murad
-
Market18 hours agoWhy These Altcoins Are Trending Today — February 18
✓ Share: