Cryptocurrency expert Tony Edward remains undeterred by the skeptics of XRP, confidently predicting an upcoming exponential surge in the digital asset’s value. Edward, utilizing his platform on YouTube, shared insights on the potential spike in XRP’s price once its bullish momentum kicks in.
Expressing his convictions, Tony Edward dismissed the naysayers, emphasizing the positive signals indicated by the market charts for XRP. Collaborating with fellow crypto analyst CrediBULL Crypto, who echoed a bullish sentiment for XRP’s future, they pointed out a significant accumulation that has been building up for nearly seven years on higher timeframes, poised for a breakthrough.
Drawing attention to a remarkable pattern on the XRP chart, identified as the “mother of all bull flags,” Edward highlighted the unique position of XRP in comparison to other cryptocurrencies, given its longer existence. CrediBULL Crypto envisioned an extraordinary rise for XRP once it gains widespread attention in the market.
During discussions on the Thinking Crypto YouTube channel, Edward and CrediBULL Crypto further elaborated on the potential price trajectory of XRP. CrediBULL Crypto noted the prolonged consolidation period for XRP, suggesting that a more extended consolidation phase often precedes a substantial upward movement in price.
Anticipating a minimum target of $10 and a potential skyrocket to $30 once the anticipated XRP bull run commences, the analysts remained optimistic amid market uncertainties. However, the exclusion of XRP from Grayscale’s Q4 top cryptocurrency picks has some experts cautious, as other lesser-known coins were preferred based on market capitalization.
The outcome of the SEC Ripple lawsuit remains a pivotal factor that could influence the fate of XRP in the current market cycle. CrediBULL Crypto pointed out the impact of the lawsuit on XRP’s price performance since its initiation in 2020, underscoring the significance of regulatory clarity for the coin’s rally.
While the lawsuit appears to be nearing a resolution, pending the SEC’s decision on Judge Torres’ ruling by October 7, uncertainty lingers in the market. Any negative developments, such as a potential appeal by the SEC, might hinder XRP’s price recovery compared to its crypto counterparts post-Bitcoin’s surge above $65,000.
With XRP trading around $0.59 presently, showing a marginal decline in the past 24 hours, the coin’s movement continues to be closely watched as the market awaits crucial regulatory decisions.