Over the weekend, Ripple and its currency XRP made quite some noise. Speculations around the Securities and Exchange Commission’s [SEC] settlement with Ripple pushed the altcoin’s price close to a high of $0.50. But at press time, the asset was trading at $0.4895 with no major surges or dips. Unlike its ongoing bearish trend, the asset could record an upward trajectory.
Changelly revealed that the coming week is bullish for the asset. XRP is expected to rise to a high of $0.660114 later this week. This is a 34% increase from its current levels. In addition, the altcoin will record a double-digit surge throughout the next few days.
Also Read: Ripple: $25 Million XRP Sent to Exchanges, Correction Incoming?
How Can XRP Hit $10?
In line with this, the Frankfurt Stock Exchange in Germany announced a significant rise for XRP. The report by CEO of Tokentus Investment AG, Oliver Michel suggested that the asset might surge by more than 2,000% later this year. Michel noticed that XRP differs from Ethereum [ETH] and Solana [SOL]. Unlike these cryptocurrencies, XRP has shown little change over the last year. But, from 2014 to early 2017, the altcoin formed a wedge pattern, resulting in a 4,300% spike.
The analysts highlighted that the altcoin was trading sideways. This was a couple of days before recording its rally. Right after this, the asset hit an all-time high of $3.84. At the time of writing, the altcoin was trading 87% lower than its high. Michel noted that XRP increased by 39,700% from its previous lows. The analyst does not expect this level of surge. However, he predicts that XRP could rise between $8 to $10 this year itself. He said,
“That would be quite nice. It’s something to hope and wait for, and that’s what I’m doing. “
Also Read: XRP To $7.5? Analysts Breakdown Pattern Indicating Rally