Tony Edward, the host of the Pondering Crypto Podcast, has expressed his conviction in a $6 tag for XRP amid its most in style comeback.
Over the weekend, XRP emerged from the abyss, dazzling the crypto neighborhood with an 18% tag create. Particularly, XRP’s tag rose from a low of $0.4744 on Saturday to a brand contemporary monthly excessive of $0.5636.
The surge emerged after XRP plummeted to a floor tag of $0.3911 appropriate two weeks ago. Since then, it has staged a excellent 44.1% comeback. As of press time, the asset has stabilized at $0.5324.
Commenting on XRP’s weekend surge, Edward attributed the rally to the anniversary of Settle Torres’ ruling on July 13, 2023, which declared that XRP isn’t a security.
XRP Tag Prediction Amid Impressive Comeback
He additionally referenced the analysis of “360 Dealer”, a pseudonymous market watcher who believes that XRP is following a predictable cycle.
In step with 360 Dealer, the recapture of $0.57 is a wide blow to bearish sentiments, marking a turning level within the cycle. Moreover, the analyst observed that XRP reclaimed a three hundred and sixty five days-long trendline following the pump and had fashioned a double-bottom “own trap.”
This suggests it’ll even dangle already reached its lows for this cycle, and the up-fully pattern will seemingly be commencing. Accordingly, the analyst proposed above $4 as XRP’s very finest goal for this bull season.
🚨XRP $4+ PRICE PREDICTION! BITCOIN RECOVERY $61K, ETHEREUM ETF APPROVAL WEEK!
WATCH ▶️ https://t.co/rXr2vULH0F#bitcoin #ethereum #ethereumetf #xrp #ripple #altcoins #ai #trump #donaldtrump #thinkingcrypto #crypto #cryptonews pic.twitter.com/yLw1QvYNsT
— Tony Edward (Pondering Crypto Podcast) (@ThinkingCrypto1) July 15, 2024
XRP Might perhaps well per chance Reach $6
Particularly, Edward tempered his enthusiasm by highlighting that XRP’s bullish momentum has already waned, nevertheless he stays optimistic that it is breaking upwards. He utilized a Fibonacci mannequin to XRP’s chart, the use of the last cycle’s highs of round $1.96. This resulted in a doable tag goal of $6.
Then but again, Edward emphasised that $6 isn’t a assured final consequence nevertheless comparatively a probability. Whereas Edward didn’t rule out the doable of XRP reaching $10, he clarified that he fully interprets what the charts level to.
Furthermore, the pundit vital that whereas liquidity has not too long ago flowed into meme cash, it is now anticipated to shift in direction of established avid gamers fancy XRP, Cardano, and others. He in contrast this to the outdated cycle when NFTs to starting up with attracted retail attention, surroundings the stage for high cryptocurrencies to surge.
Then but again, Edward cautioned that this final consequence isn’t assured and emphasised the significance of diversification. He revealed that his portfolio involves XRP, Solana, Avalanche, Hedera, Cardano, and AI-focused tokens fancy Win and Render.
Edward underscored the need for objectivity and warned in opposition to turning into emotionally linked to any particular token or yarn.
