Surprise is a key element in the cryptocurrency industry. This vertical has a reputation for catapulting coins based on preconceived notions, hypes, and other factors that can help them regain their former glory. The recent approval of Ethereum ETFs has also prompted XRP to launch a significant price movement.
XRP is still consolidating, and has not yet experienced a bullish trend. Ripple’s parent, the token, will soon form new global alliances that can help XRP to break through critical price marks. For the time being, the only thing the token is aiming for is crossing the price threshold of $0.75. Once it does, then the market may begin to move in a more bullish direction.
You may also like: BNB June Forecast: Is $700 On Cards For Binance Coin?
Rumors of a XRP ETF Gaining Strength After Standard Chartered Predictions
Standard Chartered’s analysts predict a big change for XRP users. Geoffrey Kendric (an analyst of SC) has stated that XRP, Solana and other ETFs are likely to be approved in the near future, bringing with them major changes for crypto.
Markets will be looking ahead at the eventual ETF status of other coins, such as SOL and XRP, but this story is more likely to take place in 2025, rather than 2024.” Kendrick is the head of research for forex and digital assets at Standard Chartered Bank. He told The Block
The current development is being called “huge” The XRP Token is still struggling to gain traction. The token has yet to experience a bullish onset of the market and has been trading within the $0.50–$0.54 range for weeks.
The XRP community still bets big on XRP. Egrag Crypto has also shared that XRP could trade for $0.75 in a few months.
“#XRP Similar Pattern: Next Pump to $0.75! ✨🚀. #XRP is dipping below the 100 MA, consolidating, and then pumping above it. The next pump should start, close above the 100 MA, and hold it as support to confirm the break-out. 📈💪. This time, the close above the 100 MA will be significant. 🔥”
Predictions for XRP Prices in June
The price of XRP could change significantly in June due to the XRP ETF. As per CoinCodexThe token could gain up to 20% before June 25, and trade for $0.64.
“The price of XRP is predicted to rise by 20.67% and reach $0.64088 by June 25, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 75 (greed). XRP recorded 16/30 (53%) green days with 2.20% price volatility over the last 30 days. “
Platform predicts that by the end of June, tokens are expected to reach $0.60.
Also Read: Chinese Yuan Is Humbling The US Dollar: What Is The Future Of USD?
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trend. XRP will be changing hands at $0.618708 on June 2, 2024, gaining 16.50% in the process.”
Ripple’s XRP can reach new heights of value if the SEC-Ripple lawsuit is resolved.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
