The recent rally of XRP price beyond the $0.66 mark has sparked optimism in the market, with many anticipating the rally to continue ahead. However, the rally appeared to have been short-lived, as evidenced by the recent price changes in crypto. Despite the recent slump, one prominent crypto market expert predicts a bullish outlook for Ripple’s native crypto by the upcoming Christmas.
Analyst Predicts Bullish Christmas Forecast For Ripple’s Native Crypto
In a recent X post, prominent crypto market expert and influencer, Myles G Investments predict the XRP price to hit $3 by Christmas. This forecast has sparked optimism among investors, especially after XRP broke through major price levels recently.
In his social media post, the expert said “XRP $3 by Christmas. Laugh now. Cry later”, fueling market discussions. In addition, when a user queried if the level would be the cycle top, he replied that it would just be the bottom of the bull cycle, further sparking discussions.
Source: Myles G Investments, X
Meanwhile, this bullish forecast comes amid an already positive sentiment hovering in the market. For instance, the crypto market is anticipating a bullish October, considering the historical trends. In addition, Bitcoin as well as top altcoins tends to showcase an upward momentum in the final quarter of the year.
Having said that, many are keeping a close track of the crypto while expecting the bull run to continue through the quarter. On the other hand, the recent dovish remarks from the Fed Chair Jerome Powell as well as other central bank officials regarding their monetary policy have also sparked optimism in the market.
What’s Next For XRP Price?
XRP price noted a sharp decline today, falling nearly 5% to the $0.62 level, after touching the brief $0.6622 in the last 24 hours. Its trading volume was also muted during writing, indicating that the investors are staying on the sideline.
Meanwhile, many in the crypto community have cited the recent muted trading due to the anticipation of a potential US SEC appeal in the Ripple SEC case. Recently, an ex-SEC lawyer highlighted a key advantage for the agency, if it plans to move ahead with a potential appeal plan.
However, despite that, the market pundits appear to have remained bullish. As crypto has noted a 10% gain over the last 30 days, a recent XRP price analysis hints that the crypto could hit $1 soon amid this bull run.
Considering all these aspects, the market seems to be on edge and keeping a close track of Ripple’s native crypto. Especially, Myles G Investments’ $3 price target by Christmas has fueled both speculations as well as optimism in the market.
The post XRP Price Set For A Big Shift By Christmas, Analyst Predicts appeared first on CoinGape.
