XRP is causing investor excitement as MikyBull Crypto, a notable crypto analyst, predicts that the token will reach the $10-$20 level during the current market cycle.
Crypto analyst MikyBull is suggesting that XRP could hit $10 to $20 this market cycle, due to the bearish sentiment around XRP making it possible to pull such returns.
MikyBull shared technical analysis that included Bollinger Bands following XRP’s price volatility and a Trendline Channel suggesting the formation of a bullish trend.
Moreover, the Williams%R indicator shows that XRP’s price still has room to rise, as it has not yet entered the overbought zone. These factors suggest a bullish future for the cryptocurrency, implying that it will continue to gain in the following weeks.
At the time of writing, XRP is trading at around $0.6288, up 7.28% over the last seven days. This recent price movement highlights the asset’s durability and potential for additional growth, which aligns with the positive sentiment expressed by analysts such as MikyBull.
Meanwhile, major investors are keeping an eye on this surge, as Whale Alert—a tool that tracks large crypto transfers—reported a massive movement of 31 million XRP, valued at around $19.22 million, from the Upbit wallet to an unknown wallet.
This large transfer suggests a HODLing strategy, in which tokens are likely being held for mid- to long-term investment.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.