XRP Price Prediction: A Crypto Trader Has Projected a Massive XRP Price Uptick After the White House Crypto Summit

A crypto trader has projected a massive XRP price uptick after the White House Crypto Summit. Altcoins suffered over the weekend, extending long-term losses

Crypto trader Egrag Crypto has projected a massive 10x XRP price uptick after the White House Crypto Summit.

The crypto trader on X said that altcoins will also see a huge rebound with increased whale activity.

XRP price is down 1% in the past hour and trades at $2.21 at press time. A 10x price surge will take the asset above $20, adding trillions to its market cap.

For context, XRP price is yet to break $4 this cycle. Last year, institutional interest saw the asset rally to new highs of $3, a level last seen in 2021.

The asset dropped below $1 for several months after the Securities and Exchange Commission (SEC) sued Ripple and its executives for allegedly offering unregistered securities.

However, institutional interest saw the asset price rebound as traders look forward to clear rules and global partnerships.

At the moment, there are similar sentiments with the formation of the crypto task force in the United States. The group, among others, will help usher in clear rules setting the tone for more investment.

Following Donald Trump’s inauguration, XRP bulls maintained a greedy approach before the market dipped.

Analysts Marzell say XRP could pick up gains before the next bull run.

“#XRP has formed a descending channel pattern on the daily timeframe after consolidating between $2.00-$3.00. This continuation pattern suggests accumulation before the next leg up. A bounce from the current support at $2.12 could drive the price toward targets at $2.32, $2.61, $2.90, and $3.35.”

Egrag Crypto also pointed to altcoin inflows as traders find more confidence. This can be seen in recent whale holdings with large holders buying the dip. Last week, Ethereum whales added over 400,000 assets, transferring a larger number off exchanges.

In the past seven days, XRP and Solana dropped 14% and 17% respectively before recent inflows. While altcoins are yet to record Q4 2024 successes, traders are keen on a recovery ahead of a rebound.