Crypto analyst Tony Edward remains optimistic about XRP despite facing criticism, anticipating an upcoming surge in its value. In a recent video on his YouTube channel, Edward shared insights on the potential parabolic rally XRP could experience once its bull run kicks off.
Emphasizing the positive signs shown on the charts, Edward expressed confidence in XRP’s future performance, echoing the sentiments of fellow analyst CrediBULL Crypto. CrediBULL Crypto pointed out a significant seven-year compression pattern on higher timeframes, hinting at a positive shift for XRP in the near future.
Furthermore, both analysts discussed the unique bullish signals present on the XRP chart, particularly highlighting the distinctive “mother of all bull flags” formation. CrediBULL Crypto suggested that XRP’s longstanding consolidation could lead to a remarkable price expansion when the market conditions align.
Predictions for XRP’s price ranged from a minimum target of $10 to a potential high of $30 once the anticipated bull run commences. Despite skepticism from some quarters, citing Grayscale’s exclusion of XRP from its Q4 top 20 crypto picks, Edward and CrediBULL Crypto remain bullish on XRP’s prospects.
The outcome of the SEC Ripple lawsuit is seen as a pivotal factor affecting the timing and magnitude of XRP’s potential bull run. CrediBULL Crypto highlighted the lawsuit’s impact on XRP’s price performance, particularly in relation to the lack of new all-time highs following the legal proceedings initiated in 2020.
While the conclusion of the lawsuit is pending, with the SEC having until October 7 to decide on potential appeals, uncertainty looms over XRP’s price trajectory. The XRP community eagerly anticipates the resolution of legal uncertainties, as the coin strives to catch up with the broader market trends in light of Bitcoin’s recent price surge.
As XRP currently trades around $0.59, with marginal fluctuations in recent price movements, market watchers await further developments to gauge the coin’s potential growth trajectory. The evolving narrative around XRP’s legal battles intertwined with market dynamics shapes the ongoing discussions within the crypto community.