After a long period of decline, the cryptocurrency market is finally recovering. Meanwhile, XRP, one of the largest altcoin projects by market cap, is trading in the green. When it comes to XRP, the crypto community is eager for its price to rise even higher. So how high are retail investors’ Ripple (XRP) price expectations?
Crypto community predicted XRP will reach $1.95 by July 31, 2022
In a CoinMarketCap community survey, users predicted that the Ripple price would trade at an average price of $1.95 on July 31, 2022. Notably, the crypto community’s XRP price predictions show an increase of $1,6115, or 476.11%, from the current DeFi token’s price of $0.3385. At the time of writing, 3,244 people voted to arrive at the above estimate.
Since the start of the year, XRP has been on the downside, dropping from $0.84 on Jan. 1 to $0.3385. That’s a 59.7% drop in the observed timeline, where it was at the time of writing.
Community optimism stems from software company Ripple, independent of XRP but a major player in the XRP ecosystem, winning a lawsuit against the United States Securities and Exchange Commission (SEC) after Judge Sarah Netburn voiced her disappointment with the regulator. originates.
On top of that, we reported that in late June, Ripple opened a new office in Toronto, Canada, and plans to hire 50 engineers in line with its mission to expand to hundreds of Blockchain software developers, including data scientists and applied machine learning scientists.
So how do the above price predictions and Ripple’s partnership news align with the experts’ expectations?
Ripple price ready to make noise
This comment came from FXStreet analyst Akash Girimath. The XRP price gained about 8% between July 7 and July 8. Thus, it triggered a break above the $0.336 level. This resistance is the midpoint of the $0.286-$0.387 range that was initially formed when it rose 35% between June 18-24.
The latest surge in bullish momentum has pushed XRP price higher and above a key point. Although the altcoin is pulling back, it is trying to stabilize above this level. If successful, the analyst says interested investors will consider long positions. Additionally, investors will wait for the XRP price to sweep the remaining liquidity above $0.387 first. Once the initial target is reached, investors will choose between waiting for profits. Or they can hold their positions at $0.439 for a retest of the next level.
cryptocoin.com As we reported, Binance and Ripple CEOs warned about some altcoins. You can check out the recent statements here.
