Could it finally be time for XRP to pump?
Despite Ripple’s several landmark victories over the US Securities and Exchange Commission, XRP’s underwhelming growth in this bull cycle has been a massive disappointment. It is up by a mere 9% year-to-date while Bitcoin has posted 110% gains.
However, expert XRP price predictions now indicate the possibility of a strong bullish trend unfolding in the near term.
Expert XRP Price Predictions – Time To Buy?
The XRP price is finally set for a parabolic run-up to new all-time highs. Prominent investor CryptoBull points out that its price chart against BTC has formed a pattern historically associated with strong bullish momentum.
XRP has created a double-bottom against Bitcoin—a setup that previously led to massive surges in 2017 and 2021.
#XRP is about to double bottom versus Bitcoin. In 2017 and 2021 XRP exploded after putting in a double bottom 🚀 pic.twitter.com/IWRtC6wEfh
— CryptoBull (@CryptoBull2020) November 11, 2024
Indeed, XRPBTC is up by more than 5% today as the XRP price skyrocketed by 20% from $0.577 to $0.692. The trading pair could continue to surge in Q4 2024 and 2025, especially as there is a growing consensus that Bitcoin Dominance has hit its cycle top at 60.2%.
Similarly, popular crypto trader Blockhainedbb has opened a long position on XRP, anticipating a breakout from the multi-year symmetrical triangle and a subsequent 400% upside move to over $3.
No break out on $XRP just yet . Still accumulating . When we get a weekly break out , I would enter at FVG . Since I’m delulu , I already entered ☠️ https://t.co/j3HLZLss9r pic.twitter.com/8K5dD45RpQ
— Blockchainedbb (@blockchainedbb) November 11, 2024
The XRP price prediction from Flash, a prominent influencer with nearly 90k X followers, also highlights an inverted head-and-shoulder pattern in the macro timeframe as well as a breakout above the multi-week descending trendline, both of which indicate major upside volatility.
The bull thesis for XRP is straightforward. The Ripple vs SEC court case has had a massive impact on its price. Even after a $125 million fine on Ripple for its illegal institutional sales, the SEC has appealed Judge Torres’ original ruling, claiming that its programmatic sales also violated the Securities Act.
However, Donald Trump’s win in last week’s US presidential elections means that SEC Chair Gary Gensler’s days at the commission are numbered, even if he isn’t fired on day one as Trump had promised.
Fox Business journalist Eleanor Terrett reports that Gensler’s replacement will be decidedly pro-crypto.
🚨NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov chair and whether views on #crypto would factor into the decision.
— Eleanor Terrett (@EleanorTerrett) November 8, 2024
The response: “I promise you it will be someone pro-crypto.”
Consequently, there is a strong possibility that the SEC could drop its appeal or reach a favourable settlement with Ripple, a decidedly bullish scenario for XRP. There are also reports that Ripple CEO Brad Garlinghouse has met with Donald Trump and could be a part of his crypto council.
However, XRP isn’t in the clear just yet. It still needs to secure a weekly close above the $0.66 resistance to invalidate all bearish scenarios. For instance, the price saw a green wick to $0.69 today, immediately followed by a pullback to $0.63.
Nevertheless, it does appear that Trump’s victory and XRP’s technicals indicate strong bullish momentum in the coming weeks. If the price holds above the $0.66 resistance, it could indeed be the time to buy XRP.
Why New Meme Coins Could Still Be A Better Investment?
Even with XRP poised for a bull run, a majority of crypto investors continue to search for low-cap meme coins, hoping to bag 10x to 100x returns. Binance continuing to list micro-cap meme tokens have further added to their demand.
Moo Deng, Act I, Peanut The Squirrel and First Neiro On Ethereum are just some of the projects that had a sub-$100 million valuation at the time of their Binance listing.
Owing to Binance’s priority on decentralization and low fully-diluted valuation, Pepe Unchained (PEPU) is being speculated as one of the top tokens that could list on the world’s leading crypto exchange.
PEPU continues to be in extremely high demand during its presale and has now raised over $27 million. It has added the latest $1 million in less than 48 hours.
Wow 27M!!!!!
— Pepe Unchained (@pepe_unchained) November 11, 2024
The PEPU community support is incredible! Pepe has entered a complete zen state because of all the love. PEPU #1!! 🐸🐸💚💚 pic.twitter.com/G4A3yy1XxX
Its native Layer-2 ecosystem, meme coin launchpad and sound tokenomics have made it a favourite of whales and retailers alike. A few prominent crypto influencers are even calling it the next 100x meme coin.
Similarly, whales are stacking Flockerz (FLOCK), a decentralized project that is aiming to be the people’s meme coin.
A deep-pocketed investor purchased $53k worth of FLOCK today on Tuesday, pushing its presale fundraising past the $1.6 million mark.
Its DAO governance, vote-to-earn platform and attractive staking rewards separate it from other run-of-the-mill coins.
Similar to PEPU, smart money investors are bullish on FLOCK, with many eyeing 100x returns from it.
