Crypto Analyst Projects XRP Price Rally to $12 in Coming Months
Crypto analyst Cryptoinsight forecasts a potential rise in XRP price to $12, driven by various catalysts. Key points include:
- Dubai Land Department's launch of a tokenization platform on the XRP Ledger.
- Ripple's acquisition of prime broker Hidden Road, enhancing XRP Ledger utility.
- Ripple obtaining a payments license in Dubai, beneficial for XRP as the firm's native token.
- Speculation around Ripple’s interest in acquiring USDC issuer Circle and rising odds for XRP ETFs approval.
- Potential resolution of the long-standing XRP lawsuit could act as a catalyst.
- Technical analysis shows bullish indicators with momentum shifting upward.
Analyst CasiTrades noted that XRP is near a local low, suggesting a retest of the support zone between $2.25 and $2.26. If this holds, it may initiate a move towards $2.70. However, breaking this support could lead to lower levels at $1.90 or $1.55.
Current trading price of XRP is approximately $2.30, down nearly 2% in the last 24 hours.
