The cryptocurrency world thrives on the element of surprise. The vertical is holistically known for catapulting tokens based on hypes and pre-assumed notions that sometimes help tokens recover their lost graces. With Ethereum ETFs gaining approval in recent times, the echoes of XRP ETFs are also in the air, urging Ripple to project considerable price action shortly.
XRP has long been consolidating and is yet to experience bullish momentum. The token’s parent company, Ripple, is poised to forge new alliances across the globe, which will help XRP breach critical price markers. For now, the token’s only goal is to cross the $0.75 price threshold, after which it may embrace the bullish onset of the market.
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XRP ETF Rumors Gain Strength Post-Standard Chartered Predictions
Analysts at Standard Chartered have predicted a new development for XRP enthusiasts to look forward to. Geoffrey Kendric, a notable analyst at SC, has shared how XRP and Solana ETFs could be next in line to receive approvals, bringing in monumental changes in the crypto vertical.
For other coins (e.g., SOL, XRP), markets will also look ahead to their eventual ETF status, although this is likely a 2025 story, not a 2024 one.” Kendrick, head of forex and digital assets research at Standard Chartered Bank, told the Block
The development is currently being dubbed “huge” for the XRP token, which is struggling to gain traction from all possible fronts. 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.
However, the XRP community is still betting big on XRP. Egrag Crypto, another notable cryptocurrency analyst, has shared how XRP is warming up to the current bullish wave and may trade at $0.75 sooner than expected.
“#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. 🔥”
XRP Price Forecast for June
With XRP ETF development in the mix, the price of XRP may undergo significant price changes in June. Per CoinCodex, the token may gain a decent 20% by June 25 to trade at the $0.64 price level.
“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. “
At the same time, the platform predicts the token will hit $0.60 by June 2.
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“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.”
However, the Ripple XRP token can gain significant price traction if the SEC vs. Ripple case finally delivers a verdict, which can help the token reach new price highs in no time.