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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Crypto Analyst Predicts Crypto Market To Reach $23 Trillion, XRP Price To Cross $13

Scott Matherson
Scott Matherson
Last Updated: June 11, 2024 8:34 am
3 mins read
XRP Price

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Crypto analyst Dark Defender has provided insight into how the XRP price could rise to $13. The analyst also suggested that the crypto token’s price could end up being way above that when other factors are considered. 

How XRP Will Rise To $13

In a post on his X (formerly Twitter) platform, Dark Defender stated that the XRP price could hit $13 when the total crypto market cap hits $23.24 trillion within a year. He noted how the crypto market has become more valuable year-on-year as it rose from $816 billion a year ago to around $1.6 trillion now. As such, he expects a “third wave” to happen with XRP’s rising with the tide. 

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The analyst also hinted that there is the possibility that XRP could be higher than $13 as this price level will be achieved without considering its fundamentals. The fundamentals that he alluded to were regulatory clarity and XRP’s utility. XRP’s gaining legal clarity has been touted as one of its unique offerings and something that paints a bullish picture for the crypto token. 

Going by Dark Defender’s projections, the XRP price could also possibly have doubled from the $13 price level by 2027, as the analyst puts the total crypto market cap at $100 trillion by then. In a previous post, the analyst also raised the possibility of more institutional adoption of XRP, something which could also contribute to a significant rise in its price. 

XRP price chart from Tradingview.com (Ripple)

Token price starts another retrace | Source: XRPUSD on Tradingview.com

XRP Price Set To Enjoy From Bitcoin’s Surge

Bitcoin rose to as high as $47,000 as approval of the Spot Bitcoin ETFs looks imminent. Following BTC’s latest surge, crypto analyst CryptoInsightUK hinted that XRP could be next. He had previously laid out a bullish narrative for altcoins, including XRP, as he stated that they could post significant gains as traders cycle their profits into smaller market-cap tokens.   

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Specifically, he noted that it could be time for XRP to shine as the crypto token is closer than ever to a move to the upside. Another reason why this move seems imminent is because the narrative in the crypto community is “awful” for XRP, the analyst remarked. As part of his 2024 predictions, CryptoInsightUk sees XRP rising to between $10 and $15 as BTC rises to $100,000.

He believes the rally in the next bull run will be something similar to the one that happened in 2017. Interestingly, the analyst had previously raised the possibility of XRP repeating a rally similar to the one in 2017 when it posted a 61,000% gain. 

At the time of writing, XRP is trading at around $0.5724, up over 2%, according to data from CoinMarketCap. 

Featured image from Watcher Guru, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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