Analyst Forecasts XRP Price Rally to $8 in Current Market Cycle
Highlights:
- Crypto analyst Mikybull Crypto predicts XRP could surge to $8, citing bullish fundamentals.
- Analyst suggests $8 may not be the cycle’s peak for XRP.
- Another analyst, CasiTrades, anticipates a shorter-term rally to $3.80.
XRP Price Prediction: $8 Target in This Market Cycle
Crypto analyst Mikybull Crypto has issued a bullish prediction for XRP, forecasting a potential price rally to $8 during the ongoing market cycle. The analyst also hinted that this price target might not represent the market top for XRP, suggesting further potential upside.
Factors Driving the Predicted Rally
In a post on X, Mikybull Crypto attributed the optimistic outlook to favorable market fundamentals. Although specifics weren’t detailed, factors likely include optimism surrounding regulatory developments and potential policy changes.
- SEC Developments: Expectations are rising that the U.S. SEC might drop its appeal against Ripple, which could remove a major overhang for XRP.
- Pro-Crypto Policies: Reports indicate that Donald Trump’s administration could adopt a pro-crypto stance, potentially leading to greater XRP adoption.
- XRP ETF Approvals: The likelihood of SEC approval for XRP ETF applications has increased. Notably, REX Shares recently filed an application, joining four others.
Short-Term Target of $3.80
Another crypto analyst, CasiTrades, has predicted a shorter-term XRP rally to $3.80. According to her analysis:
- XRP has already reached a significant wave 4 target of $2.88.
- The key focus now is turning resistance levels at $3.24 into support, paving the way for a wave 5 rally to $3.80.
- Consolidation between $3.24 and $3.33 may precede this breakout.
XRP’s Recent Performance
XRP has demonstrated strong momentum, recording a 36.9% gain over the past month. Analysts remain optimistic about its near- and long-term prospects, driven by favorable market conditions and potential regulatory clarity.
