XRP Price Prediction – If this chart is correct, XRP is the best opportunity for 10x gains in crypto now
The XRP price is in an enviably bullish position after Thursday’s gut-wrenching price action across the crypto complex.
Despite a tick higher in core CPI inflation, the risk asset market initially fell sharply and then recovered.
This defiance in the face of sticky inflation is very significant, as it could mean that the head-false bear rallies in recent times could have created the conditions for a definitive breakout.
Ripple’s XRP cross-border liquidity token is arguably the best-positioned crypto to benefit from renewed bottoming buying interest.
Although the price has faced resistance around the $0.50 level, market participants are increasingly optimistic that the signs emerging from the protracted trial point to the likelihood of a positive outcome.
And even if Ripple doesn’t win the case but ends up in a messy tie, a settlement that clears a path through the regulatory uncertainty holding back a re-rating of XRP would still be bullish.
XRP addresses with tokens worth more than $100 are approaching the all-time record
In fact, bullishness around XRP right now can be gleaned from the behavior of XRP holders.
If we overlay the XRP price with the supply of XRP tokens at addresses with at least $100 in value, the figure, 1.07 million, is close to the record high last seen in November 2021 (1.14 million).
But the interest in XRP is not only speculative interest in the markets, but is also seen in coin adoption.
On October 11, Ripple announced that French payments company Lemony was its latest on-demand liquidity customer. Lemony will use RippleNet and the XRP token to enable crypto payments and improve its treasury processes
What does this mean for the XRP price?
Looking at the market cap of crypto assets since 2015 using 1 week light and there may be some clues.
A descending triangle that began in 2015 culminates in top completion where it meets the long-term trend line. It was this conjunction that was followed by parabolic movement higher by XRP, which was not completed until the price hit its all-time high.
Although the middle triangle in the chart is not upset, the current descending triangle began in 2021 and could herald a similar move higher.
Granted, this move may not come until the New Year, but if the price can fall above $0.50, it’s a promising ladder higher.
The technical setup looks very positive. However, the trigger to send XRP higher will likely come from the lawsuit.
If the SEC’s officers were really debating among themselves the possibility that Ethereum is a commodity and not a security, it would blow the whole of the SEC’s case against Ripple, and would have broader implications for crypto regulations.
XRP is one of the best buys in crypto today.
XRP is also sustainable – and so is IMPT
It is also a good sustainable choice due to its fast and efficient blockchain.
That said, there may be better choices when it comes to building an ESG crypto portfolio like IMPT.
IMPT brings carbon offsets to the blockchain and in the process to customers around the world.
The coin is currently in pre-sale and may be worth taking the time to do your due diligence on.
Visit IMPT now
