Altcoin
The German stock exchange expects Ripple XRP to reach $10
Over the weekend, Ripple and its XRP currency made quite a bit of noise. Speculation around the Securities and Exchange Commission [SEC] The deal with Ripple pushed the altcoin’s price close to the $0.50 high. But at the time of writing, the asset was trading at $0.4895 without much rise or fall. Unlike its ongoing downtrend, the asset may experience an upward trajectory.
Changelly revealed that next week will be bullish for the asset. XRP is expected to reach a high of $0.660114 this week. This is a 34% increase from current levels. Furthermore, the altcoin will register a double-digit surge in the coming days.
Also Read: Ripple: $25 Million XRP Sent to Exchanges, Correction Coming?
How can XRP reach $10?
In line with this, the Frankfurt Stock Exchange in Germany announced a significant increase for XRP. The report by the CEO of Tokentus Investment AG, Oliver Michel suggested that the asset could rise more than 2,000% by the end of the year. Michel noted that XRP differs from Ethereum [ETH] and Solana [SOL]. Unlike these cryptocurrencies, XRP has shown little change over the past year. But, from 2014 to early 2017, the altcoin formed a wedge pattern, resulting in a spike of 4,300%.
Analysts highlighted that the altcoin was moving sideways. This was a couple of days before recording his rally. Soon after, the asset reached an all-time high of $3.84. At the time of writing, the altcoin was trading 87% below its high. Michel noted that XRP is up 39,700% from previous lows. The analyst does not expect an increase of this level. However, he predicts that XRP could rise between $8 and $10 this year. He said:
“It would be very nice. It’s something to hope for and wait for, and that’s what I’m doing. “
Read also: XRP at $7.5? Analyst distribution model indicating rally