2024

<ul>
 <li>Analyst Amonyx predicts XRP could soar to $2.3, based on historical price patterns and trend analysis.</li>
 <li>Whale Alert reports large XRP transfers, sparking market concerns about their potential impact.</li>
</ul>
Following a robust comeback in the cryptocurrency market, including XRP, the volatility around Ripple’s coin looks to be leveling off.
But, according to an <a href="https://twitter.com/amonbuy/status/1821425630119948795" rel="noopener noreferrer nofollow">analysis</a> by prominent analyst Amonyx, there is a good probability that XRP’s price will surge based on the token’s historic moves. The previous pattern features XRP’s price becoming further constrained along the trendline between high levels produced during a corrective pattern.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 They will call me crazy until everything happens, but that's okay. <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f911.png" alt="🤑" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/qalLq5oGTB" rel="noopener noreferrer nofollow">pic.twitter.com/qalLq5oGTB</a>
 — Amonyx (@amonbuy) <a href="https://twitter.com/amonbuy/status/1821425630119948795?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-xrp-price-expected-to-reach-2-3-high-before-potential-correction-strong">XRP Price Expected to Reach $2.3 High Before Potential Correction&nbsp;</h2>
This pattern has established new lower highs but no new lower lows, indicating that the price has reached the end of the analyst-mapped pattern. In this research, the <a style="color: #008000;" href="https://www.crypto-news-flash.com/analysts-predict-bullish-outcomes-for-xrp-price-amid-market-recovery/" rel="noopener noreferrer nofollow">XRP price</a> is expected to reach a high of $2.3 before correcting again.
The analyst also believes that the XRP/BTC pair might suffer a stratospheric climb, potentially hitting a new all-time high in its price trajectory.
As of this writing, XRP is trading around $0.5864, down 2.84% over the last 24 hours. Furthermore, its daily trading volume has decreased by more than 30%, to $1.785 billion.
<div class="cryptoboxes" id="mcw-345586" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="xrp" data-symbol="XRP" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
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This comes after a period in which investors and supporters celebrated Ripple’s victory over the SEC after the court ruled that XRP was not a security, as CNF previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/breaking-victory-for-ripple-as-xrp-is-not-a-security-in-the-us-125m-fine-for-the-truth/" rel="noopener noreferrer nofollow">reported</a>.
Furthermore, Judge Torres cut the SEC’s sought fine from $2 billion to $125 million. The judge has also barred Ripple from violating federal securities laws in the future, implying that any such offense would require a court order.
On the other hand, Whale Alert reported yesterday that it discovered <a style="color: #008000;" href="https://www.crypto-news-flash.com/xrp-whale-moves-million-of-tokens-to-exchanges-prepare-to-dump/" rel="noopener noreferrer nofollow">two significant XRP transactions</a> to Bitso and Bitstamp wallets from the same source. There are concerns that these transfers, totaling more than $26 million, would lead to the liquidation of XRP, as the price has fallen since this major transfer.

Analyst Predicts XRP Price Surge to $2.3: What to Expect

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