XRP continues to get bullish price targets despite the turbulence within the broader crypto market, as the cryptocurrency struggles to hold above the $0.50 price level.
Analyst Ben McClymans revealed that XRP is on its way to $7 ahead of the bull run in 2025. This is the latest forecast from the analyst and the latest XRP target shows a more conservative trend from the $8 shared on January 29.
OK, it's time for some fun my updated price TARGETS for the #crypto bull run in 2025. $BTC: $155,000$ETH: $8,000$QNT: $950$XRP $7$KAS: $1.50$TAO: $1500$AZERO: $50$CHNG: $2.5$LINK: $120$TRIAS: $350$RIO: $25$ROUTE: $50$ALPH: $45$CREO: $1.5 $GHX: $2
What are yours?
— Crypto Benny (@ben_mcclymans) February 6, 2024
The change in perspective comes within the space of a week, underscoring how unstable the crypto ecosystem could be.
XRP Recovery Advocacy
Besides the key XRP price forecast, the analyst also shared insights on Bitcoin’s target as well as those of other altcoins.
According to the analyst, Bitcoin is on track to soar to $155,000, down from the earlier projection of $175,000. He noted that Ethereum (ETH) is also poised to hit a high of $8,000, $2,000 less than the $10,000 he forecasted about a week ago.
Just like XRP, there is a great deal of uncertainty in the market. Despite the signs of resilience XRP has shown lately, the coin has failed to reboot its runs from the 3-year consolidation phase, introducing a major bearish sentiment to its ecosystem.
Leaders within the XRP community have always had to reassure investors of the promises the coin has. One of the latest such forecasts came from EGRAG CRYPTO, an analyst who noted XRP has what it takes to soar by 15X, 27X, and 55X in the coming decades.
He advocated that irrespective of the current outlook, XRP’s bullish cycle will be recorded for those who stayed patient.
The Unwavering Bitcoin Correlation
The XRP price forecast from Crypto Benny is hinged on the bullish trends surrounding Bitcoin.
The emergence of spot Bitcoin Exchange-Traded Fund (ETF) has sparked a paradigm shift in the perception of the asset as a suitable option for institutional investors.
While the market is yet to fully price in the capital from these firms in the long term, the forthcoming BTC halving event will further complement the already bullish outlook.
Bitcoin’s success in this regard might translate to success for XRP, owing to the strong correlation between both assets. With limited positive sentiments driving XRP at the moment, the absence of Bitcoin’s resilience might have sparked more bearish slumps in XRP overall.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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