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CoinGape 2025-02-04 08:41:35

XRP Price Targets $6 Rally Amid Current Recovery, Here’s All

XRP Price Targets $6 Rally Amid Current Recovery, Here’s All

XRP price has surged more than 6% today amid a broader market recovery after the recent crash. This surge also reflects the market participants’ regaining confidence in the digital asset space. In addition, a top market expert recently predicted a potential rally for Ripple’s native crypto to $6, which has further sparked discussions in the market. Expert Predicts XRP Price Surge To $6 The latest XRP price rally has caught the attention of market analysts, with predictions hinting at a potential climb to $6. According to expert Dark Defender , XRP is currently in its fourth wave in the intermediate cycle, paving the way for a strong fifth-wave rally. He suggests that Ripple’s native crypto could hit $5.85 based on historical patterns that have been consistent since July 2023. In addition, he highlights another long-term primary wave cycle that could push the XRP price to as high as $18.22. While this remains a speculative projection, many investors are optimistic about XRP’s future price action. Source: Dark Defender, X Another analyst, EGRAG CRYPTO, has echoed this bullish outlook. Citing analysis from market expert Squeky Mouse, he pointed out that XRP price trends align with a potential rally toward $5.2. Source: Squeky Mouse, X The forecast is based on recurring market patterns and technical indicators that have previously guided XRP’s price movements. This growing consensus among analysts has fueled excitement within the XRP community, as traders anticipate further gains in the coming weeks. Source: Squeky Mouse, X Ripple’s 500 Million XRP Unlock Sparks Debate Despite the bullish predictions, XRP price recently faced some selling pressure after Ripple unlocked 500 million tokens from its escrow. Historically, such unlocks have led to short-term price declines as supply increases in the market. However, analysts argue that the long-term trajectory remains positive, as XRP continues to gain traction in institutional use cases. Investors are watching whether the current recovery can sustain momentum despite these supply concerns. How’s XRP Price Performing? XRP price jumped over 6% during writing and traded at $2.52 while its trading volume slipped 36% to $21 billion. Notably, the token saw a 24-hour high and low of $2.78 and $2.23, respectively. However, XRP Futures Open Interest stayed near the flatline, indicating a muted interest from top investors. Adding to the bullish sentiment, pro-XRP lawyer John Deaton recently shared an ambitious forecast. In a recent discussion, he claimed that XRP has the potential to outpace Ethereum and become the second-largest cryptocurrency before facing a market correction. Besides, he also set a target of around $8 for the XRP price. The post XRP Price Targets $6 Rally Amid Current Recovery, Here’s All appeared first on CoinGape .

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