Crypto Analyst Predicts XRP Price to Rise 2,500% to $20 Amid Growing Institutional Demand

A popular cryptocurrency analyst recently suggested that the price of the XRP Ledger’s native token, $XRP, could soon rise by 2,500%, with his charts showing a possible increase towards the $20 mark.

In a post shared on the microblogging platform According to Chart, when the pattern was discovered between 2014 and 2018, it led to an impressive rally after the breakout.

#XRP Only 2500%:

If you can’t see the incredible potential of #XRP in the chart below, especially in breaking MYTL, then unfortunately there’s not much more I can do to convince you.#XRPArmy STAY STEADY and remember we have clarity for God’s sake. pic.twitter.com/S1097h4ujS

– EGRAG CRYPTO (@egragcrypto) September 12, 2023

Based on historical trends and recent market dynamics, the forecast reflects growing sentiment that the price of XRP could soon explode, with Egrag’s forecast focusing on the $20 mark in the future.

Other analysts also seem bullish on XRP. Another pseudonymous analyst, CoinsKid, predicts that the price of

Institutional investors in particular have been betting on XRP, with investment products focused on the token seeing inflows of $700,000 last week, while cryptocurrency investment products as a whole saw outflows of $59 million over the same period were recorded.

The rising interest in the cryptocurrency began after a ruling by Judge Analisa Torres in the US Securities and Exchange Commission (SEC) case against

The ruling led a number of cryptocurrency exchanges, including Coinbase, Kraken and Gemini, to relist the token, significantly increasing its liquidity.

The XRP Ledger’s transaction throughput could soon increase from around 1,500 transactions per second to an impressive 3,400 transactions per second (TPS), supported by upgrades set to roll out soon.

As CryptoGlobe reported, XRP token holders could soon be able to earn on-chain income following the introduction of the highly anticipated XLS-30d amendment, which brings an integrated automated market maker (AMM) trading platform onto the blockchain should introduce general ledger.

An AMM is a platform that enables permissionless trading of cryptocurrencies using liquidity pools instead of traditional order books. Liquidity pools are shared pools of two or more user-supplied tokens used for trades. The prices of tokens within the pool are determined using blockchain oracles.

Investors who add tokens to liquidity pools receive a share of the fees charged on each trade, but the earnings come with the risk of temporary loss.

Featured image via Pixabay.

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