XRP is drawing attention from analysts who suggest the token may experience a significant surge in price. Technical indicators and recent developments surrounding XRP have led experts to project a potential increase of 200% or more. With some predictions pointing towards a price of $9.90, XRP is positioning itself for substantial growth if the current trends continue.
Recent technical analysis shows that XRP is building strong momentum, pointing to a potential breakout. According to trader Javon Marks, XRP could rise by more than 226% to hit $9.90, with the possibility of reaching even higher values. Marks referenced the token’s previous price movements, which followed similar accumulation phases and led to significant price increases.
Source: X
His chart indicates that XRP may be entering another accumulation phase, similar to past price surges. If XRP surpasses the $9.90 mark, it could pave the way for further growth, possibly even reaching $20. Marks stressed that such large price movements usually follow extended periods of consolidation, where the token accumulates value before a sharp price jump.
The launch of an XRP-focused exchange-traded fund (ETF) and the introduction of tokenized funds on the XRP Ledger have also raised investor confidence. These developments suggest an increasing institutional interest in XRP. The first U.S. spot XRP ETF was launched this week, opening the door for more regulated investment products tied to the token.
Tokenized funds on the XRP Ledger will allow investors to trade or hold these funds like tokens, offering advantages like faster settlement times and improved liquidity. These developments signal that XRP is moving beyond its role as a payment token, positioning itself as a more versatile asset in the world of regulated investments and blockchain finance.
XRP’s price has remained steady above $3 in recent weeks, with slight fluctuations. This stability comes as traders assess whether the token can break through its next level of resistance. Analysts believe that XRP’s current position indicates an upward trend, particularly with the increasing institutional backing and favorable technical signals.
The market’s response remains cautious, with traders closely monitoring how XRP performs as it approaches the $3 resistance. If the token continues to show strong technical signs and breaks through this key resistance point, the potential for significant price growth will increase.
Source: X
As XRP continues to develop, the combination of positive technical indicators and growing institutional interest could drive the price higher, potentially reaching the targets set by analysts. Whether XRP can sustain its upward trajectory will depend on market conditions and the continuation of these favorable trends.
The post XRP Price Target Set at $9.90 as Analysts Predict a 226% Price Surge appeared first on CoinCentral.
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