The post XRP Price Poised for 120% Rally in Next 6 Months: Here’s Why appeared first on Coinpedia Fintech News
Cryptocurrency enthusiasts are closely watching XRP as speculation mounts around a potential rally of up to 120% in the next six months, according to analyst AlanSantana. This potential growth is linked to some partial regulatory clarity and could experience significant growth based on two correction scenarios.
120% Growth In XRP
According to prominent crypto analyst AlanSantana, XRP could grow to 120% in the next six months. Meanwhile, his insight is based on the two potential scenarios that could propel XRP to new heights.
In one scenario, if XRP corrects to approximately $0.51, a notable 85% rally is anticipated within the next six months.
In another scenario, XRP could surge 120% if the price corrects to around $0.43, challenging previous highs reached in July when the court decided XRP was not a security.
What’s Next for XRP?
Beyond the short-term, AlanSantana thinks XRP could reach around $5 in the long run. He also thinks XRP could keep growing even if Bitcoin, the big player in the market, goes down. This shows that XRP might not follow the same trends as other cryptocurrencies.
The ongoing speculation about a potential settlement gained momentum after the SEC’s closed meeting on November 30, where crucial issues, including the “resolution of litigation claims,” were addressed. This has fueled expectations of an imminent settlement between Ripple and the SEC.
Despite gaining regulatory clarity, the SEC case continues to cast a shadow over XRP. Bill Morgan, a pro-Ripple lawyer, expressed concern about the unusual price movement post-regulatory clarity, emphasizing that the SEC battle hindered XRP from maintaining momentum with its peers.
XRP Price Analysis
In the current market scenario, XRP is trading at $0.63, reflecting daily gains of about 2.77%. While the weekly chart indicates a 0.5% decrease, bullish sentiments dominate XRP’s technical analysis.
Indicators suggest a ‘buy’ sentiment, with moving averages signaling a ‘strong buy,’ and oscillators indicating a ‘neutral’ position.
XRP’s prospects are undeniably influenced by the broader trajectory of the cryptocurrency market, making it a key player to watch in the coming months.
#News [Source: Coinpedia]