Ripple is again grabbing headlines as the token has recently touched the $0.60 price mark after significant struggles. With Bitcoin dipping to below $60K, the altcoin market has slightly subsided its profits. XRP is currently at $0.47, down 14% in the last 24 hours.
With the US SEC-Ripple verdict looming, the speculative spree is now gunning for XRP to touch new price highs soon. Here’s how XRP may pan out regarding pricing and valuation in the near future.
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Ripple XRP New Price Levels Revealed By Analyst
According to a notable financial analyst, Jack The Rippler on X, Ripple is inching towards claiming a series of high price thresholds. The token’s case with the US SEC is also speculated to end soon, adding more weight to these predictions and forecasts.
Per Jack, XRP’s immediate price prediction foretells that the token may reach $6 first. The prediction is based on XRP’s 2017 fractal, adding more robustness to the analyst’s forecast. He later adds how XRP can achieve this price target by August 2024.
Jack took to X to discuss the possibility of XRP reaching $6 in August, which was later questioned by some X enthusiasts. The analyst remained steadfast in its prediction, claiming that the token has the potential to claim this milestone soon. At the same time, he shared how a minor correction can again push XRP to hit $2 by September 2024.
In addition, Jack shared the possibility of XRP hitting $32 in November, considering the court rules in favor of XRP, and its price responds positively to this development.
XRP Price Prediction: Technical Indicators
According to technical platforms like CoinCodex, the price of XRP is again trending in the bearish zone. By August’s end, CC predicts the token will jump 20% to claim the $0.57 price mark.
“According to our current XRP price prediction, the price of XRP is predicted to rise by 20.88% and reach $0.573299 by September 4, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 26 (fear). XRP recorded 19/30 (63%) green days with 12.25% price volatility over the last 30 days. “
Another crypto platform, Changelly, predicts XRP to hit the $0.74 price mark in August 2024.
“Crypto analysts expect that at the end of summer 2024, the XRP price will be around $0.646. In August 2024, the XRP cost may drop to a minimum of $0.551. The expected peak value might be $0.742 in August 2024.”
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However, if the court rules favor the Ripple XRP case, these price thresholds can cause a significant price upswing and may push Ripple to breach the $1 price mark.