Here’s Why Ripple (XRP) Price Will ‘Go Much Higher’ Than It Is Now

2024-10-24 00:45

Levi, a crypto YouTube channel analyst, presents reasons why Ripple’s XRP is poised to go much higher in price. He acknowledges that the past year has been relatively uneventful for XRP. Other assets like Bitcoin surged to $70,000. However, Levi emphasizes that XRP’s moment is approaching rapidly.

Levi reflects on XRP’s price history, noting that it has experienced long periods of low trading values. He notes a critical moment in 2022 when XRP dropped from $0.92 to about $0.29 during a bear market.

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Show more +Show less – Favorable Ruling Leads to Major XRP Price Increase

The turning point came in July 2023, following a favorable SEC ruling that classified XRP as not a security. This resulted in a swift price jump from $0.45 to $0.92 in just one day.

The analyst points out a recurring pattern in XRP’s price movements. Positive court rulings lead to substantial price increases. This is often followed by significant corrections.

He illustrates this trend with recent data, noting that after a rapid increase in price, XRP frequently settles back to previous levels. For instance, following a surge from $0.38 to $0.63 in July 2024, XRP retraced to around $0.51.

Read Also: Why Are Radworks (RAD) and Cartesi (CTSI) Prices Pumping Right Now?

Long-Term Holders Keep Retaining Assets

Levi advises viewers to recognize this trend and view corrections as buying opportunities. He cites the importance of liquidity in driving XRP’s price, explaining that a high percentage of holders—currently around 60%—have been retaining their assets.

This holding pattern contributes to market volatility, and as more people accumulate XRP without selling, the potential for a liquidity crunch increases. He forecasts that if this trend continues, substantial price gains could follow.

Looking ahead, Levi suggests that XRP might see significant price action similar to the 2021 bull cycle, driven by increased liquidity and a favorable market environment.

He believes that while immediate gains are not guaranteed, by mid-2025, XRP could experience rallies reminiscent of past highs. He encourages viewers to adopt a dollar-cost averaging strategy to build their positions.

Levi concludes by reminding his audience that his insights are not financial advice.

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The post Here’s Why Ripple (XRP) Price Will ‘Go Much Higher’ Than It Is Now appeared first on CaptainAltcoin.

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Ripple (XRP) на Currencies.ru

$ 2.5211 (-2.09%)
Объем 24H $46.225b
Изменеия 24h: -5.84 %, 7d: 82.69 %
Cегодня L: $2.3674 - H: $2.8575
Капитализация $143.835b Rank 3
Цена в час новости $ 0.5286 (376.94%)

xrp higher much price ripple relatively year

Источник: captainaltcoin.com

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Фото:

XRP Briefly Traded at More Than $8,300 and Nobody Noticed

XRP, a cryptocurrency that is commonly touted as reaching an all-time highest value of around $3.80, was briefly worth thousands of times more due to one individual’s serious mistake. Back in October, one unfortunate individual paid the equivalent of $8,341 per XRP — which is approximately 31,000 times higher than the then going market rate […] The post XRP Briefly Traded at More Than $8,300 and Nobody Noticed appeared first on BeInCrypto.

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