Crypto Analyst Predicts ‘Giga Pump’ For XRP Price, Here’s The Target

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Crypto analyst Amonyx has made an ultra-bullish price prediction for the XRP price. Based on his analysis, the crypto could soon enjoy a massive pump that will lead to a price gainof almost 80,000%.  XRP Price To Enjoy “Giga Pump” To $400

Amonyx stated in an X post that an XRP giga pump is incoming. Based on his accompanying chart, the XRP pricecould enjoy a massive rally to reach as high as $400. Such a price rally will represent a price gain of almost 80,000% for the crypto. The analyst made this prediction using the Elliot Wave theory.  Related Reading Expert Dissects $60 Forecast For XRP Price, Institutional Investors Are The Key 2 days ago Source: X

The projected rise to $400 represents a wave 5 impulsive move, with the analyst’s chart showing that this move to the upside was already in play. However, the accompanying chart failed to show when precisely this parabolic move would occur, although it looks like a price target for the peak of this market cycle. 

Interestingly, about a month ago, Amonyx predictedthat the XRP price could rise to between $50 and $57 this cycle, which looked to be his peak target for this bull run. As such, his recent prediction suggests that the analyst has become more bullish on XRP’s trajectory. His ultra-bullish outlook for XRP could be related to the recent filings by Bitwise and Canary Capital to offer XRP ETFs. 

Approval of these funds could attract more institutional investors into the XRP ecosystem, driving more inflows into the crypto and leading to a potential price rally. Amonyx also seems confident that the SEC and Ripplewill settle their ongoing legal battle. Therefore, the lawsuit will no longer act as an obstacle to XRP’s potential growth. 

A settlement could also signal the potential approval of the pending applications for an XRP ETF since that will confirm that the Commission no longer believes that the crypto is a security.  XRP To Break All-Time High

Amid the ultra-bullish prediction, crypto analyst Jaydee has given a more conservative price target. The analyst predictedthat the XRP price would rise to $6.5, marking a new all-time high (ATH) for the crypto. Crypto analyst Egrag Crypto recently statedthat XRP would at least rise to $5.89 in the worst-case scenario for the crypto in this bull run.  Related Reading SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next? 2 days ago Source: X

Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this bull run. Crypto analyst CrediBULL Crypto predictedthat the crypto could reach $10 in this market cycle based on his belief that ETH will hit $10,000. 

The XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defendertold market participants there will be an “extraordinary” breakout starting this month.  XRP price continues uptrend | Source:XRPUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com