Surprising Price Forecast for Ripple (XRP)! Armstrong Counts 5 Reasons and is Confident!
Ben Armstrong, who is closely followed by the cryptocurrency community, made an ambitious prediction for Ripple ( XRP ). According to the analyst, the price must make satisfactory rises very quickly. Moreover, it has 5 reasons to support it! So what are the 5 reasons that support the well-known analyst’s ambitious prediction?
At the time of writing, Ripple ( XRP ) continues to find buyers at $ 1.25. Having moved away from the critical 1.16 region, the price finally started its bullish action. Likewise, if it can break the $1.4 levels, it will target the 1.89 peak it saw in April. All moving averages on the four-hour chart support bullish prospects.
RSI still has not entered the overbought zone, but its rise is also noteworthy. If the buyers can maintain the current pressure, it could rise above the 70 level. The MACD is positive again, confirming the weakness of the selling pressure. Upside targets will be 1.29, 1.37 and 1.55 respectively. The $1.17-1.13 range will be critical in a possible pullback.
5 Reasons For Ripple (XRP) Rise
Ben Armstrong thinks the price will approach $10. For this, he counts 5 reasons that support the goal he stated. So is XRP ready for such a big bull run? Time will tell, of course, whether this and Ben Armstrong were right. However, it may be useful to examine his reasons.
According to Armstrong, Ripple is busy making deals with international partners while dealing with legal hurdles in the US. Over the past few months, the market has seen Ripple sign multiple deals with overseas banks that plan to use Ripple’s on-demand liquidity (ODL) service to improve cross-border transactions.
“With ODL , banks can use XRP as a bridge currency to radically increase the speed and efficiency of international payments”.
In this respect, Ripple offers a great opportunity to the traditional financial system. Institutions that do not have sufficient technical capacity and expect expert support can keep up with this transformation through Ripple Labs.
There is a Visa-supported project called CryptoSpend . Saying that XRP will take its place in this product that facilitates crypto payments, the analyst hopes that more people will transact with XRP. Of course, this could support the XRP price for the $10 target.
Ripple has released its quarterly XRP Markets Report showing 88.8 million transactions on the XRP Ledger in Q3 of this year . These transactions, which are around $70 billion in diameter, confirm that it is now strong.
The long-awaited airdrop has now reached its final stage. At least that’s what Armstrong says. The Songbird network’s native token, SGB, will be sent to XRP holders who received the Flare snapshot last year.
Ripple Litigation Will End
Undoubtedly the biggest price catalyst for XRP will be the SEC lawsuit. The outcome of this case has been awaited for a long time. The analyst, who thinks that the case will now be concluded, thinks that the listing on the major exchanges will push the price up again. However, there is no clarity about the end date of the case yet. Many experts think the process will be completed in the second quarter of early 2022.