The cryptocurrency market is experiencing a significant decline today. Major digital assets such as Bitcoin, Ethereum, XRP and Solana are experiencing declines ranging from 4% to 7%. While this situation creates concern among investors, it once again reveals the volatile nature of the markets.
XRP has followed a very active course recently. This month, news regarding the SEC-Ripple agreement caused significant fluctuations in the price of XRP. These speculations led to XRP rising from $0.599 to $0.655 in a matter of hours. However, the general downward trend in recent days has also affected XRP.
Famous crypto trader Goomba painted an optimistic picture that XRP could surpass $1 in the next few months. Goomba, which has a wide follower base in the cryptocurrency world, stated that XRP could reach the $ 1 level last seen in December 2021. However, after this prediction, the value of XRP dropped below $0.60 and is currently trading at $0.57. This means that XRP must increase by 75.43% from its current price to reach $1.$XRP
Goomba argued that it is not impossible for XRP to reach $ 1, and pointed out the dynamic and unpredictable structure of cryptocurrency markets. According to him, it may be possible for XRP to experience a potential rise towards the $1 level in the next few months. While this prediction creates excitement among investors, it reminds us that various factors must come into play for XRP to achieve this goal.
XRP's chart shows a "golden cross", a technical signal that could mean a rise from $0.65 to $1. With US judge Analisa Torres ruling that XRP is not a security and rumors about a possible SEC settlement, XRP had previously risen from $0.40 to over $0.60. However, factors such as the Israel-Hamas conflict and Ripple releasing 500 million XRP from its escrow wallet caused XRP to fall below $0.55 before rising to $0.57.
On-chain data also shows increasing optimism about the future of XRP. The increase in large wallets holding at least 10,000 XRP is considered as preparation for a potential increase. These wallets have grown significantly in the last five weeks, reaching a total of 279,400 addresses, indicating increasing trust and accumulation in the potential of XRP.
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