bullish

2024

Optimism

Coin

<p>According to&nbsp;<strong>Javon Marks</strong>, a popular technical analyst, XRP Price may hit $150 at some point in the future. His prediction comes at the back of a recent remarkable performance by XRP in the market, rising over 10% to trade at $0.6586, its highest in four months.</p>
<h2 class="wp-block-heading" id="h-optimism-around-xrp-price"><strong>Optimism Around XRP Price </strong></h2>
<p>This optimism is grounded on a potential break of a six-year bearish trend that had its last touch at the $3.84 peak of XRP back in 2018. He notes that the token has been able to hold most of its recent gains, which shows that there is a lot of interest in the market and that the token can continue to rise.</p>
<p>As noted by Marks, the upward movement marks a major break out from a 2,351-day resistance trend. This comes in the wake of XRP/USD trading at $0.090 following a court’s ruling last year that XRP is not a security.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> is now BROKEN OUT of this massive, &gt;2,351 day resisting trend!<br><br>This means that it's &gt;$150 target is NOW IN PLAY and with a full Logarithmic Follow Through, can be reached in an over 21,000% climb from here.<br><br>The show may be just beginning <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/i1GdCGbqJa" rel="noopener noreferrer nofollow">https://t.co/i1GdCGbqJa</a> <a href="https://t.co/Hjx17iTzz4" rel="noopener noreferrer nofollow">pic.twitter.com/Hjx17iTzz4</a></p>— JAVON <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1818484077592461419?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2024</a>
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<p>The analyst comments that with the current bull market, XRP could hit new peaks and potentially rise as high as $264. This would be similar to patterns observed in the 2017-2018 bull run.</p>
<h2 class="wp-block-heading" id="h-xrp-market-reaction-and-investor-confidence"><strong>XRP Market Reaction and Investor Confidence</strong></h2>
<p>In line with the price appreciation,&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/25/xrp-poised-for-parabolic-surge-weekly-bullish-candle-ignites-800-rally-speculation/" rel="noopener noreferrer nofollow">XRP</a>&nbsp;has performed well and has outperformed other cryptocurrencies such as Bitcoin. In the last month, XRP has appreciated by 28.36% against Bitcoin showing the strength and increasing investor belief in its future value. This rally has made&nbsp;<strong>XRP</strong>&nbsp;record its first positive monthly close against BTC in the last year.</p>
<p>Additionally, data from market intelligence firm Santiment reveals that the count of XRP addresses holding at least 10,000 coins has risen to a six-month high. For the last five weeks, the network has added 2,389 such ‘whale’ wallets and now stands at 279,400.</p>
<p>This growth in large investors correlates well with the rise in the market performance of XRP, pointing to a relationship between high investment and token price.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f988.png" alt="🦈" class="wp-smiley" style="height: 1em; max-height: 1em;"> The amount of wallets holding at least 10K XRP has skyrocketed in the past 5 weeks. 279.4K such shark &amp; whale addresses exist on the ledger, returning to a 6-month high. The correlation between these wallets and XRP's market value has been undeniable throughout 2024. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/JRT3629sJH" rel="noopener noreferrer nofollow">pic.twitter.com/JRT3629sJH</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1818428356519772624?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<p>As XRP is going up, the overall crypto market and the leading coins such as Bitcoin and Ethereum are under pressure. Bitcoin and Ethereum have shed 1.95% and 1.41% respectively in the last 24 hours.</p>
<p>This contrast further emphasizes the bullish performance of XRP during a bear market. It highlights the asset’s ability to draw investors looking for stability and growth during market volatility.</p>
<h2 class="wp-block-heading" id="h-diverse-opinions-among-experts"><strong>Diverse Opinions Among Experts</strong></h2>
<p>While Marks offers a highly bullish outlook, not all market observers share his enthusiasm. Some experts, including the founder of Eckhardt Capital, have expressed&nbsp;concerns&nbsp;about the market cap implications of XRP reaching $150.</p>
<p>They argue that such a price point would give XRP a market valuation close to $15 trillion, a figure that surpasses many global financial benchmarks. This raises questions about the feasibility of such growth.</p>
<p>Other analysts, like&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/31/analyst-predicts-potential-60000-surge-for-xrp-price-but-how/" rel="noopener noreferrer nofollow">Ali Martinez</a>, suggest that confirmation of XRP’s breakout from its long-term downtrend would require the token to consistently trade above $0.9. This perspective introduces a more conservative viewpoint, emphasizing the need for sustained market performance to validate any long-term predictions.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/01/xrp-price-to-aim-for-150-new-2389-whale-wallets-reach-6-month-top/" rel="noopener noreferrer nofollow">XRP Price to Aim for $150? New 2,389 Whale Wallets Reach 6-Month Top</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

XRP Price to Aim for $150? New 2,389 Whale Wallets Reach 6-Month Top

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Thecoinrepublic.com

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