Ripple (XRP) is a leading name in the cryptocurrency market, a coin that has withstood significant legal mayhem and barriers to reach the top of the market radar. Ripple is often heralded as the coin that has it all figured out, including where the token wants to go and what domains it wants to establish its repute in. While Ripple wants to pioneer the cross-border payment domain, the token is also exploring the budding stablecoin arena, which is set to assist XRP in gaining widespread momentum. Will such compelling catalysts help XRP soar to new price highs? One analytical firm is betting on this development with all its might.
Also Read: Circle Launches USDC on XRP Ledger as Ripple Seeks SEC Relief
XRP to $73? How?
Sistine Research, a notable crypto research firm, has predicted a new price path for XRP. Per the firm’s recent video on XRP market trajectory, Sistine Research has predicted how XRP is channeling all its strength to hit the $73 price mark in a new development. Forrest, a leading research analyst at Sistine Research, took to YouTube to dive into details, adding how XRP’s chart is showing “seven-year flag and breakout development.” Adding more to the details, Forrest shared how XRP has been the number one performing coin since the US elections, adding how the token is already defying all odds.
“I still think, uh, XRP is loading up more in a situation like we were down here. Um, so there’s even if it’s also since the election, it’s the number one performing asset. Number one performing asset since the election, and the chart looks like this. Uh, I think XRP is a no-brainer to own.”
First Surge To $3
Forrest added how XRP is constantly eyeing new price marks in its price chart, which may even compel investors to think that they have missed their shot once it climbs above the $3 mark.
“As long as we’re holding range, if we start trading down here, then I will, uh, entertain that a little bit more. Uh, above $3, you’re going to feel like, “Oh, I’ve missed it.” That’s going to be your natural reaction. When this thing goes above $3, if it does—I’m not going to speak in absolutes. But if this goes above $3, your reaction up here or the average person’s reaction is going to be to be zoomed in on the hourly chart and think, “Oh, this was just trading down at like, you know, south of $2, just below $2.” This was just at range lows. This thing’s ripped. I’ve missed it. because you’re going to be looking at the hourly chart instead of the weekly or the monthly chart. Above $3, I get even more bullish. The higher the likelihood this goes, the more bullish it gets.”
Multiple Targets In Sight For XRP
In addition to this, Forest predicted multiple price targets for XRP to breach and ace. For example, Forrest talks about XRP hitting $3 and above, which could again trigger a massive price uptick, helping XRP hit $7 to $10 first, eventually paving its way towards $37 and $73. He shared how XRP may encounter a selloff at $7 to $10, with XRP resuming its course to hit $17 and $37 price spots.
“So, XRP targets. I’ve got multiple targets that are pretty high, not going to lie. Um, but around 73 would be about as high as I could see XRP going, which I know sounds crazy. Um, but in a blowoff situation like we got, you know, in 2017, that would be my absolute upside target. I’ve got a ton of targets, like six. Six. I’ll say like seven to 10 regions, I think. I think this thing will initially slow down. You’ll see a lot of people trying to sell between, like, 7 and 10. Um, and then I’ve got a lot of targets between, like, 17 and 37. If XRP gets to 73, I’ll be, you know. Fully out, which I know it’s at 228 right now, so we’re a long ways off of that. Um, yeah, keep in mind this thing ran super, super hard. We got a larger pattern than we did in 2017.”
What Elements Are Capable of Driving This Surge?
If Sistine Research’s analysis comes true, XRP could be one of the most successful cryptocurrency coins an investor could have explored post-Bitcoin. Chances are that Ripple’s global collaborations in the cross-border payment domain have fructified, giving XRP an edge over other crypto coins.
Other than that, the US government is moving towards embracing stablecoin as a means to promote dollar hegemony. If Ripple’s RLUSD comes into official play here, which means if the government makes use of the RLUSD officially, it can be another bullish sentiment that could help XRP hit new highs in the process.
Moreover, approvals of spot XRP ETFs can help XRP onboard new users, helping the token thrive dynamically in the domain.
Also Read: How High Can XRP Rise After Being Inducted Into NASDAQ Crypto Index?
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