Tuesday, September 26, 2023

XRP: Target 20 after interest and improvements?


  • XRP Forecast: 2,500% upside possible with a target of 20.
  • Institutional investors are showing increasing interest; 700,000 entries on XRP-focused products.
  • XRP Ledger prepares improvements: 3,400 TPS capacity and introduction of AMM platform to generate on-chain income.

A prominent cryptocurrency analyst has suggested that XRP, the flagship token of the

In a recent post on popular microblogging platform X (formerly Twitter), Eggag Crypto presented a chart suggesting a triangle pattern for XRP. This pattern is similar to what XRP showed between 2014 and 2018, which preceded a significant rally.

“#XRP only 2500%: If you can’t see #XRP’s incredible potential in the chart below, especially if it breaks MYTL, then unfortunately there’s little else I can do to convince you. #XRPArmy BE STABLE and remember we have clarity for the love of GOD.”

Based on recent market dynamics and historical trends, Egrag’s forecast suggests an impending boom in XRP value, considering a target value close to 20.

But Eggrag is not alone in his optimism. CoinsKid, another masked analyst, predicts that XRP could rise as high as 6.29 based on a similar technical pattern present on the cryptocurrency’s chart.

It is important to note the growing institutional interest in XRP. Last week, 700,000 inflows were recorded in investment products focused on this token, while other crypto products, in contrast, recorded outflows of 59 million.

The attention on XRP has increased significantly following a ruling by Judge Analisa Torres in connection with the case brought by the SEC against XRP. Torres highlighted a difference between sales to institutional investors and on exchanges, emphasizing that the token itself is not necessarily considered a security. Following this ruling, renowned exchanges such as Coinbase, Kraken and Gemini have re-listed the token, thereby increasing its liquidity.

The XRP Ledger is expected to soon increase its transaction capacity from 1,500 to an impressive 3,400 TPS, which will be boosted by upcoming updates.

Additionally, a proposal is emerging that will allow XRP holders to generate income on-chain. The long-awaited XLS-30d amendment aims to integrate an Automated Market Maker (AMM) platform into the ledger.

This AMM will enable crypto trading via liquidity pools instead of traditional order books. Those who contribute tokens to these pools receive a portion of the fees for each transaction, but this carries the risk of temporary losses.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com/
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