Despite criticism towards XRP, crypto analyst Tony Edward has suggested that the crypto will experience a parabolic rise in the near future. In a video published on his YouTube channel, Edward gave information about how high XRP could rise when it starts its bull run.
Analysts’ Belief in XRP
Tony Edward noted in an X post that critics will continue to criticize but the charts show positive signs for the coin. This statement was in line with crypto analyst CrediBULL Crypto’s optimistic analysis for the XRP price.
CrediBULL Crypto stated that a nearly seven-year squeeze on higher time frames will end soon. The analyst highlighted the pattern he called “the mother of all bull flags” forming on the XRP chart.
“There is no such impressive bullish pattern on XRP charts,” said CrediBULL Crypto.
SEC Ripple Lawsuit May Be Effective
SEC’s Ripple $0.602221 The lawsuit could be decisive in whether XRP’s bull run happens or not. CrediBULL Crypto stated that the lawsuit, which started in 2020, caused a decline in the price of XRP and affected the coin’s failure to record new all-time highs during the 2021 bull run.
Analysts are considering whether the SEC will appeal Richter Torres’ programmatic sales decision by October 7. This decision may negatively affect the price of XRP.
Grayscale Makes Alternative Choices
Some market experts are skeptical of Grayscale removing XRP from its Q4 top 20 crypto picks. Instead, it included coins that were lower in terms of market cap, such as SUI, TAO, and CELO.
The current price of XRP is around $0.59 and has declined over the last 24 hours. The coin has recorded a price increase of less than 1% in the last seven days.
The future of XRP continues to be shaped in line with the SEC’s upcoming decision in the case and the predictions of market analysts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
