How far can XRP go after being included in the NASDAQ cryptocurrency index?
CoinCodex, a leading firm in on-chain metrics and price prediction, has projected a promising outlook for XRP following its inclusion in the NASDAQ Cryptocurrency Index. According to the price prediction, the analytics firm forecasts that XRP will reach a high of $2.55 in June and July. This represents a rebound and a return on investment (ROI) of approximately 14% from its current price of $2.25.
$XRP was added to the NASDAQ's U.S. Cryptocurrency Liquidation Price Index (NCIUS) on Monday, and its value skyrocketed after the announcement. It reached a peak of $2.35 following the news, which propelled it to rise more than 6% on the charts. Just when traders believed that its price could surge, Ripple's native token began to pull back.
It is now at its high from the previous week, and XRP has lost most of its gains following the NASDAQ Crypto index announcement. The leading altcoin has dropped nearly 3% in the indices and is trading at $2.25. It is back in a bearish phase, causing investors to think twice before entering the market.
An investment of $1,000 could turn into $1,140 in the next 30 to 45 days if the forecast holds true. "Heading into summer, XRP's price is expected to rise from $2.20 to $2.55 (following its entry into NASDAQ). This could generate a potential profit of 13.55%, indicating a bearish sentiment for the coming month," the prediction states.
In addition to Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI) are part of the NASDAQ Crypto index. Following its inclusion, Cardano's ADA briefly rose on Monday but fell into the red the next day. Major altcoins are struggling to maintain momentum and are unable to achieve a breakout in their price.
