Cryptocurrency markets faced significant losses with the recent BTC drop. It saw double-digit declines. Altcoin markets, which experienced one of the biggest sales after the drop of $ 108 thousand, have weakened considerably. But a popular analyst has announced his ambitious target for XRP Coin.
How Many Dollars Is XRP Coin?
Today Ripple President, spot XRP Coin ETFHe said that is next after BTC and ETH approvals. There are currently ETF applications pending approval by the SEC. The ETF process for XRP Coin will move forward under the new crypto-friendly SEC Chairman. Although the Gensler administration is expected to take the necessary steps to continue the appeal process on January 15, things will change as of January 20.
Trump has clearly stated that he will quickly end the regulatory pressure on cryptocurrencies. Ripple CEO shared a picture from the dinner he had with Trump, and Trump seems determined to do what is necessary in this regard. Of course, this will help the rise in crypto as it will solve many things from ETF approvals to endless crypto lawsuits.
For all these reasons, the analyst with the pseudonym Mikybull wrote that XRP Coin will return to the 3-7 dollar range before the end of the year. If he is right about this, this is Ripple (XRP) $2.3It will mean reaching a huge market value.
Bitcoin (BTC)
BTC price It weakened again with the US markets opening at the time the article was being prepared. The price is at $95,190 and macroeconomic developments are not good for risk markets. The dollar index has risen to unexpected levels and Trump says inflation is high. Even though he says that interest rates are high, the Fed will continue to keep interest rates high unless it creates a big hole in employment. And yes, unfortunately, employment data has not weakened to the desired extent.
Michael Poppe did not write much new about the current situation in his last market review. Everyone hopes that the real rise will begin with Trump taking office on January 20.
“Bitcoin
$95,447.5 I prefer a one month cap range for . This will strengthen the extended cycle with Altcoins to start moving throughout this year.
DXY and Rates remain strong, which is dragging down the strength on altcoins. “This situation will change.”
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.
