Its performance has been poor throughout the year. Ripple Whale activity is likely to push XRP to $0.60 in October. In fact, it has consolidated throughout the months of August and September. Things could still change dramatically next month.
The market expects that sentiment will shift as Bitcoin It has always been a dominant month in October. Often dubbed ‘Uptober,’ it could be set to push a host of cryptocurrencies back to the level it enjoyed earlier this year. Ripple could be one of them, as it is well positioned to flourish alongside a market rally.
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What if XRP was $0.60 per pound? Ripple 2024 Could Be Recovered in October
Ripple had the most potential in 2024. Ripple was ready to end its long-running lawsuit against the US Securities and Exchange Commission. A boost to the relevance of all asset classes was also expected. XRP has not yet experienced the boom that was expected.
The token’s value has dropped by over 2.5% during the last thirty days. CoinMarketCap. This shows the continuous consolidation that it’s been facing. The crypto fell almost 2% on Friday to $0.57. Yet many traders remained optimistic.
Crypto Analyst Ali Martinez X (formerly Twitter), reported that Ripple saw $228 millions worth of asset purchased by whales, as this could benefit XRP for October. Martinez reported that whales had acquired 380,000,000 XRP over the last ten days.
Please Read This: Ripple: XRP Outperforms Top 10 Cryptocurrencies, Rallies 8.8%
This could drive XRP to $0.60. Then, you can use the XRP to buy a lot of other cryptocurrencies. GraysPositive sentiments are abounding in the asset. If the markets can show a positive turn in the coming weeks, then XRP may be one of the most valuable assets.
All of this is made worse by the Federal Reserve’s decision to reduce interest rates for only the fourth time since 2004. It is clear that the move could lead to cryptos’ continued rise in what may be an energised market.
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Source: watcher.guru
