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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

XRP Could Gain By 2500% In 2024, Crypto Analyst Says

Semilore Faleti
Semilore Faleti
1 year ago
3 mins read
XRP

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Prominent cryptocurrency XRP remains among the major talking points in crypto over the last few months. Following Ripple’s partial victory over the US Securities and Exchange Commission (SEC) in July, analysts have continued to weigh in on XRP’s future, mostly predicting a bullish price trajectory for the altcoin.

In the latest development, a crypto analyst, EGRAG CRYPTO on X, predicts that XRP could be set for massive gains in 2024 based on historical price data. 

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XRP To Repeat Price Rally In 2024?

According to an X post on September 12, EGRAG CRYPTO describes XRP as possessing “incredible potential.” Using data from the altcoin chart on Tradingview, the analyst projects a possible market gain of 2500% in 2024.

EGRAG CRYPTO’s bullish prediction on XRP is based on the token’s price history. Between 2016 and 2018, XRP embarked on a strong bullish run upon forming a symmetrical triangle pattern, which appears again on the token’s monthly chart.

#XRP Only 2500%:

If you can't see the incredible potential of #XRP in the chart below, especially when breaking through MYTL, then I'm afraid there's little more I can do to convince you.#XRPArmy STAY STEADY and do not forget that we have clarity for GOD's sake. pic.twitter.com/S1097h4ujS

— EGRAG CRYPTO (@egragcrypto) September 12, 2023

For context, a symmetrical triangle chart pattern represents a period of consolidation that can result in either a price breakout or a breakdown. If the bullish prediction holds, the XRP token could experience a similar price breakout as in previous times.

In line with EGRAG CRYPTO’s prediction, Sharon Thorp, a crypto analyst and business development executive at Wells Fargo, recently forecasted that XRP could trade at $500 in 2027. 

This prediction is based on the anticipated growth of the cross-border payment industry, which is expected to reach $250 trillion in valuation by 2027.

However, while these predictions may encourage the XRP community, they are individual speculations and should not be considered financial advice.

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1 year ago

Pain Before Gain?

Although there may be a bullish sentiment towards XRP’s potential adoption in the coming years, some analysts believe the token could struggle in the remainder of 2023. 

According to a recent X post by a pro-XRP analyst, Jungle Inc 2.0, the rest of 2023 does not bode well for XRP or the general crypto market. The crypto analyst hinges this prediction on “tough financial times” marked by increasing interest rates by the US Federal Reserve.

Furthermore, investors should remember that Ripple remains in court with the SEC. The US securities watchdog recently submitted a petition urging the court to approve its request to appeal the recent ruling in its case against Ripple.

At the time of writing, XRP trades at $0.4805, dipping by 4.32% in the last week. Meanwhile, the altcoin remains the fifth-largest cryptocurrency with a market cap value of $25.46 billion.

XRP

XRP trading at $0.4830 on the hourly chart | Source: XRPUSDT chart on Tradingview.com
Featured image from CoinMarketCap, chart from Tradingview.
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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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

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

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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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