XRP

Renowned analyst EGRAG has projected a significant rise in the value of XRP, predicting a 2,829% surge to reach a target of $15. The forecast is based on his Bent Fork model, which includes four tracks: Major Historical Support, Ranging Zone, Mid-Cycle Top, and Cycle Top.As of Friday, XRP is currently moving within the Major Historical Support track inside a White Ascending Triangle. This pattern has been in place since May 2022 after the cryptocurrency fell from its March high of $0.9121. XRP bulls briefly triumphed in July, breaking above the triangle before being retracted by a correction.Despite attempts by bears to drive XRP below the triangle, they were unsuccessful. This resilience is viewed by EGRAG as an encouraging indicator for the cryptocurrency's future performance. The analyst predicts an imminent breakout between the third and fourth weeks of November, which could potentially be the last opportunity for investors to purchase at lower prices.Once this breakout occurs, EGRAG expects XRP to progress through the remaining tracks of his Bent Fork model, culminating in reaching the Cycle Top and achieving the projected price of $15.The recent rally of XRP to $0.5121 was driven by Ripple's third victory against an SEC lawsuit involving executives Brad Garlinghouse and Chris Larsen. This legal win has provided a short-term boost to the cryptocurrency's value.#xrp Source: investing.com

DATE: OCTOBER 18, 2023WRITTEN BY: ABDULKARIM ABDULWAHAB (The Crypto Basic)Forbes reveals BlackRock and JPMorgan’s plan to lead a major XRP bull run in the crypto market.XRP struggles to reclaim the $0.5 price point despite the current Bitcoin rally propping up the crypto market. Meanwhile, in a recent publication, Billy Bambrough, a Senior Forbes Contributor, noted that the XRP market is primed for a substantial boost to be led by an unusual force.BlackRock and JPMorgan to Spearhead XRP BullSpecificaly, Forbes asserted that global financial giants BlackRock and JPMorgan would spearhead an XRP bull rally. According to Bambrough, the two financial behemoths are silently preparing the grounds for an upcoming surge in the cryptocurrency market.To back this claim, the senior contributor outlined multiple crypto-specific endeavors BlackRock and JPMorgan have jointly orchestrated. The report cited that BlackRock has achieved a significant milestone by becoming the first Wall Street titan to employ the blockchain-based collateral settlement program backed by JPMorgan. Forbes argued the development is a part of BlackRock’s broader crypto strategy, as its CEO Larry Fink outlined. Notably, Fink stated the aim is to usher in “the next generation for markets” [like crypto.]Furthermore, the Forbes contributor highlighted that recent reports confirm that BlackRock has utilized JPMorgan’s Ethereum-based Onyx network and tokenized collateral service to convert shares from one of its financial market funds. It mentioned that the tokenized assets were later transferred to Barclays in an OTC derivatives transaction.Besides, Forbes quoted BlackRock CEO’s previous statement where he expressed the significance of blockchain technology in their financial dealings. Specificaly, Fink described blockchain technology as “very important” in an annual letter to investors. It is worth stating that blockchain technology enables the tokenization of traditional assets. This specificaly makes the value transfer of traditional assets like stocks, bonds, and real estate more cost-effective and straightforward.Therefore, the Forbes senior contributor believes that BlackRock and JPMorgan’s coming into the crypto space amid the utility linked to the traditional market would catalyze a significant rally for digital assets like XRP, Bitcoin, and Ethereum.BlackRock News Moves MarketBesides, Forbes also backed its sentiment by citing the recent sudden uptick in the crypto market triggered by a false report. For context, the erroneous report suggested that BlackRock’s eagerly anticipated spot Bitcoin exchange-traded fund (ETF) application had received regulatory approval. The claim caused a swift bullish stir in the market after garnering attention from major news outlets.Ultimately, the Forbes Senior Contributor makes the bold claim that the Wall Street giants would spearhead the coming Bitcoin bull run by attracting major institutional demand, with far-reaching implications for digital assets like XRP.#XRP

Sat, 10/14/2023 - 18:16XRP appears oversold and may stage short-term rallyXRP, the fifth largest cryptocurrency by market capitalization, seems to be portraying oversold signals.This is as the four-hour chart displays the similitude of a "death cross" pattern, which happens when the moving average MA 50 falls below the moving average MA 200. This is regarded as a bearish indication, but instances for XRP prove otherwise. The majority of XRP's so-called "death crosses" have culminated in the crypto asset's bottoming phase. Moving average crossovers are referred to by some as "lagging indicators," as most of the time the crypto asset would have been oversold or overbought before it happened.After six straight days of trading in the red, XRP appears oversold and may stage a short-term rally. However, a look at the four-hour chart depicts something interesting: XRP is consolidating in a narrow range.While the short term remains uncertain, traders may need to pay close attention because most consolidations are typically followed by major breakouts. However, predicting the direction of the breakout with certainty may be challenging. Given that the bulls have not allowed XRP to fall below $0.47 in recent weeks, the possibility of an upside breakout grows.Author: Tomiwabold OlajideRead more on u.today