{"id":649426,"date":"2024-10-23T15:00:25","date_gmt":"2024-10-23T15:00:25","guid":{"rendered":"https:\/\/www.wncen.com\/?p=649426"},"modified":"2024-10-23T07:57:18","modified_gmt":"2024-10-23T07:57:18","slug":"40-xrp-analyst-reveals-key-insights-suggesting-major-uptrend-ahead","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/40-xrp-analyst-reveals-key-insights-suggesting-major-uptrend-ahead\/","title":{"rendered":"$40 XRP? Analyst Reveals Key Insights Suggesting Major Uptrend Ahead"},"content":{"rendered":"<p>A crypto market analyst recently released a study that predicts a big rise in the price of XRP. This study fits with the current excitement in the crypto community, especially since Elon Musk made his first public reference to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\" target=\"_blank\" rel=\"noopener nofollow\">XRP.<\/a><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/dogecoin-rockets-30-in-a-week-sparking-hype-for-uptober-rally\/\" target=\"_blank\" rel=\"noopener \">Dogecoin Rockets 30% In A Week, Sparking Hype For Uptober Rally<\/a><\/div>\n<p>In a video that went viral on Crypto Twitter, Musk talked about how valuable cryptocurrencies like XRP are. This caused a purchasing frenzy. Musk didn&#8217;t fully back XRP, but his comments about how cryptocurrencies can help people&#8217;s freedom have made people wonder how this might affect the price of the altcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Elon Musk Talks About XRP.<a href=\"https:\/\/t.co\/FFhvsF6PP7\" rel=\"nofollow\">pic.twitter.com\/FFhvsF6PP7<\/a><\/p>\n<p>\u2014 TheCryptoBasic (@thecryptobasic) <a href=\"https:\/\/twitter.com\/thecryptobasic\/status\/05254230?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 21, 2024<\/a><\/p><\/blockquote>\n<h2>XRP&#8217;s Role In Global Finance<\/h2>\n<p>It was brought up in the video that Musk was asked if he thought XRP could play a big role in the global financial system, given the SEC&#8217;s focus on regulating the cryptocurrency. His answer was simple, but it worked.<\/p>\n<p>He said that coins like XRP challenge centralized control and support personal freedom, but that was not a call to action. Although it did not express outright support, such statements by Musk have given hope to crypto investors because of the influence he has on the market.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRP<\/a> MOONSHOT TO $40.00 OVERNIGHT !!! <a href=\"https:\/\/t.co\/gGc5DBGDoF\" rel=\"nofollow\">pic.twitter.com\/gGc5DBGDoF<\/a><\/p>\n<p>\u2014 STEPH IS CRYPTO (@Steph_iscrypto) <a href=\"https:\/\/twitter.com\/Steph_iscrypto\/status\/66046551?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 9, 2024<\/a><\/p><\/blockquote>\n<p>Crypto analyst Steph&#8217;s technological study fits this increasing buzz. Since 2018, he noted a symmetrical triangular pattern developing on the XRP\/USD chart that points to a notable breakout perhaps just ahead.<\/p>\n<h2>Musk&#8217;s Social Media Impact<\/h2>\n<p>Currently at the top of this triangle, XRP reflects the 2017 situation that resulted in its spectacular surge and all-time high of $3.31. Investors are eagerly observing since Musk&#8217;s remarks seem to coincide with this pivotal technical turning point.<\/p>\n<figure style=\"width: 2475px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/UFmTnx3p\/\" alt=\"\" width=\"2475\" height=\"1163\"><figcaption class=\"wp-caption-text\">XRP market cap currently at $30 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Regulatory hurdles have long been a factor in XRP&#8217;s price suppression, Steph notes especially in view of Ripple&#8217;s ongoing <a href=\"https:\/\/dig.watch\/updates\/us-sec-files-appeal-in-ripple-case-focusing-on-xrp-sales\" target=\"_blank\" rel=\"noopener nofollow\">legal battle<\/a> with the SEC. Still, he believes the coin may be set to have a major breakthrough\u2014just like it did in 2021 when it outperformed Bitcoin by 460%.<\/p>\n<p>Even if Musk doesn&#8217;t explicitly support the token, his mention of it can boost market sentiment because some speculators think the altcoin is currently more affordable than Bitcoin.<\/p>\n<figure id=\"attachment_649431\" aria-describedby=\"caption-attachment-649431\" style=\"width: 956px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-649431 size-full\" src=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?resize=956%2C518\" alt=\"\" width=\"956\" height=\"518\" srcset=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?w=956 956w, https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?w=460 460w, https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?w=768 768w, https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?w=860 860w, https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/A_25de0a.png?w=750 750w\" sizes=\"(max-width: 956px) 100vw, 956px\"><figcaption id=\"caption-attachment-649431\" class=\"wp-caption-text\">XRPUSD price action in the last 24 hours. Source: <a href=\"https:\/\/www.coinbase.com\/price\/xrp\" target=\"_blank\" rel=\"noopener nofollow\">Coinbase<\/a><\/figcaption><\/figure>\n<h3>Upbeat About XRP&#8217;s Future<\/h3>\n<p>Essentially, Steph is positive about the future of the altcoin but stresses that what is exciting is the developing relationships Ripple has with huge financial institutions. The implications for this are that when CBDCs are going to be more in demand, XRP will be even more important within the global financial system.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/all\/shiba-inu-soars-analyst-predicts-71-rally-in-meme-super-cycle-details\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Soars: Analyst Predicts 71% Rally In \u2018Meme Super Cycle\u2019 \u2013 Details<\/a><\/div>\n<p>More than this, institutional interest in the asset is also depicted through recent registration for XRP-oriented <a href=\"https:\/\/bitcoinist.com\/bitcoin-etfs-attract-555-million-in-fresh-inflows\/\" target=\"_blank\" rel=\"noopener nofollow\">ETFs<\/a> from Canary Capital and Bitwise. These events with the words of Musk have revived hopes about XRP&#8217;s long-term possibilities again.<\/p>\n<p>Nevertheless, Steph cautions even with the good technical and fundamental signals. While he thinks XRP may probably hit $40, he said that a more realistic target range for it would be $5 to $10. Considering the highly volatile and uncertain market, he advised investors to use their judgment properly.<\/p>\n<p>Steph underlined the need for strategic and cautious investment in view of the unpredictable character of cryptocurrency markets, even though a new all-time high could be on horizon by the end of 2024.<\/p>\n<p><em>Featured image from Trackinsight, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A crypto market analyst recently released a study that predicts a big rise in the price of XRP. This study fits with the current excitement in the crypto community, especially since Elon Musk made his first public reference to XRP. Related Reading: Dogecoin Rockets 30% In A Week, Sparking Hype For Uptober Rally In a video that went viral on Crypto Twitter, Musk talked about how valuable cryptocurrencies like XRP are. This caused a purchasing frenzy. Musk didn&#8217;t fully back XRP, but his comments about how cryptocurrencies can help people&#8217;s freedom have made people wonder how this might affect the price of the altcoin. Elon Musk Talks About XRP.pic.twitter.com\/FFhvsF6PP7 \u2014 TheCryptoBasic (@thecryptobasic) October 21, 2024 XRP&#8217;s Role In Global Finance It was brought up in the video that Musk was asked if he thought XRP could play a big role in the global financial system, given the SEC&#8217;s focus on regulating the cryptocurrency. His answer was simple, but it worked. He said that coins like XRP challenge centralized control and support personal freedom, but that was not a call to action. Although it did not express outright support, such statements by Musk have given hope to crypto investors because of the influence he has on the market. #XRP MOONSHOT TO $40.00 OVERNIGHT !!! pic.twitter.com\/gGc5DBGDoF \u2014 STEPH IS CRYPTO (@Steph_iscrypto) October 9, 2024 Crypto analyst Steph&#8217;s technological study fits this increasing buzz. Since 2018, he noted a symmetrical triangular pattern developing on the XRP\/USD chart that points to a notable breakout perhaps just ahead. Musk&#8217;s Social Media Impact Currently at the top of this triangle, XRP reflects the 2017 situation that resulted in its spectacular surge and all-time high of $3.31. Investors are eagerly observing since Musk&#8217;s remarks seem to coincide with this pivotal technical turning point. Regulatory hurdles have long been a factor in XRP&#8217;s price suppression, Steph notes especially in view of Ripple&#8217;s ongoing legal battle with the SEC. Still, he believes the coin may be set to have a major breakthrough\u2014just like it did in 2021 when it outperformed Bitcoin by 460%. Even if Musk doesn&#8217;t explicitly support the token, his mention of it can boost market sentiment because some speculators think the altcoin is currently more affordable than Bitcoin. Upbeat About XRP&#8217;s Future Essentially, Steph is positive about the future of the altcoin but stresses that what is exciting is the developing relationships Ripple has with huge financial institutions. The implications for this are that when CBDCs are going to be more in demand, XRP will be even more important within the global financial system. Related Reading: Shiba Inu Soars: Analyst Predicts 71% Rally In \u2018Meme Super Cycle\u2019 \u2013 Details More than this, institutional interest in the asset is also depicted through recent registration for XRP-oriented ETFs from Canary Capital and Bitwise. These events with the words of Musk have revived hopes about XRP&#8217;s long-term possibilities again. Nevertheless, Steph cautions even with the good technical and fundamental signals. While he thinks XRP may probably hit $40, he said that a more realistic target range for it would be $5 to $10. Considering the highly volatile and uncertain market, he advised investors to use their judgment properly. Steph underlined the need for strategic and cautious investment in view of the unpredictable character of cryptocurrency markets, even though a new all-time high could be on horizon by the end of 2024. Featured image from Trackinsight, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":649437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,83767,3680,4531],"class_list":["post-649426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-meme-coins","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>$40 XRP? Analyst Reveals Key Insights Suggesting Uptrend Ahead<\/title>\n<meta name=\"description\" content=\"A crypto market analyst recently released a study that predicts a big rise in the price of XRP. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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