XRP (XRP) has gone up by nearly 5% in the past month as cryptocurrencies have made a strong comeback from their yearly lows.
Traders’ interest in the token has been improving as open interest has surged from $3 billion to $4 billion – a 33% increase – in the past week.
Meanwhile, the pseudonymous crypto analyst The Cryptonomist, whose X account is followed by nearly 138,000 users, shared an XRP price prediction that could result in a spike to the $2.5 level after the token retested a key trend line support.
However, this forecast pales in comparison to the market’s expectation of what could happen to the price if (or maybe once) an XRP-linked exchange-traded fund (ETF) is approved by the U.S. Securities and Exchange Commission (SEC).
Bloomberg’s ETF expert, Eric Balchunas, shared recently that the odds of approval have surged to 85% as of this year. Seven different asset management companies including Grayscale, Canary, and Bitwise have filed an application for an XRP-linked investment vehicle.
XRP Could Rise to $3.2 After Bullish Breakout
Looking at the daily chart, XRP remains above its 200-day exponential moving average (EMA), meaning that its uptrend is intact despite the latest weakness that the crypto market has experienced.
The price recently broke above the 21-day EMA as well with strong volumes, indicating that the token’s short-term outlook has now turned bullish.
Based on the size of the price channel that XRP recently broke, this bullish breakout gives us a short-term target of $3.2 for the token, resulting in a 45.5% upside potential based on today’s prices.
Market sentiment has improved significantly in the past couple of weeks as the Fear and Greed Index moved from a record low of 15 (Extreme Fear) to 52 (Neutral outlook). Moving forward, the 21-day and 200-day EMA are the key support levels to watch in the following weeks.
Although it may take a while for XRP to 10X, the approval of an ETF will likely propel the price to a fresh all-time high, meaning that XRP could at least 2X from its current levels once these investment vehicles are approved.
For those looking for more immediate upside, early-stage presales like MIND of Pepe (MIND) are gaining traction, with its AI agent token still available at a discounted presale price.
MIND of Pepe (MIND) Presale Will End Soon – Don’t Miss Out
MIND of Pepe (MIND) is an AI agent token that leverages the power of AI and the popularity of a viral meme (Pepe the Frog) to captivate large audiences across social media platforms like X.
The agent is designed to gain influence by interacting with top social media accounts with an interest in the crypto market.
From these conversations, MIND of Pepe will collect valuable insights and will identify potential opportunities that it will share exclusively with $MIND holders.
In addition, as the agent increases its influence, it will be able to launch its own meme coins to capture nascent social trends. $MIND holders will get VIP access to the presale events of these new tokens to reap the highest returns once they are offered to the general public.
To buy $MIND before its presale event ends, simply head to the MIND of Pepe website and connect your wallet (e.g. Best Wallet).
You can either swap USDT or ETH or use a bank card to make your investment.
The post XRP Future Price Prediction: ETF Rumors Reignite 10x Bull Case – Here’s What Traders Expect appeared first on Cryptonews.
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