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Shiba Inu: Renowned Expert Says BONE to Skyrocket if This Happens

Mark Brennan
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Shiba Inu: Renowned Expert Says BONE to Skyrocket if This Happens

Crypto expert and Shiba Inu enthusiast Del Crxpto believes Bone ShibaSwap (BONE) will hit a new all-time high when it eventually starts trading on Binance.

The widespread speculation that leading exchange Binance will add support for Shibarium gas token Bone ShibaSwap (BONE) has gained momentum again. This time, renowned crypto expert Del Crxpto has reawakened the bandwagon.

According to a tweet by the analyst, a Binance listing is a matter of when and not if. He stated that the event is what the Shiba Army and the crypto community should be prepared for.

The Shiba Inu community has pushed for top exchanges, especially Binance, to list BONE in the past. The Crypto Basic reported that the community, backed by lead developer Shytoshi Kusama, voted that Binance list the exchange for futures trading.

However, the community call went unanswered, as Binance has failed to list the token since then. Notably, there are still growing calls, like that of Del Crxpto, for this move.

BONE Will Hit New ATH: Analyst

Meanwhile, Del Crxpto argued that BONE would hit a new all-time high when Binance finally lists the it. From his predictions, BONE would trade above $15.5, an ATH attained on July 7, 2021.

For the analyst’s predictions to materialize, BONE would have to surge 3,500% from its current market price. This would also mean that BONE’s market cap would hit $3.5 billion.

Notably, BONE is down 97% from its all-time high. The token has continued to underperform in the market despite its relevance to the Shiba Inu ecosystem.

One likely reason for this occurrence is a lack of proper promotion for BONE. As earlier reported, a community member contended that BONE would have reached $5.6 had the Shiba Inu lead developer given the token the support it needed.

Growing Speculations On More Tier 1 Exchange Listings

Del Crxpto’s speculations about a Binance listing came a few months after analytical firm Coinpedia predicted that BONE would trade on the US top crypto exchange, Coinbase. The firm mentioned the asset among the top ten assets that Coinbase would likely list in 2024.

Coinpedia stated that BONE met a few criteria that should attract Coinbase, which included its utility, increased adoption of the L2 network Shibarium, and strong community support for the token. Shiba Inu enthusiasts have continued to charge Coinbase and Binance on social media and Change.org to list BONE.

Notably, BONE is listed on OKX, Gate.io, Crypto.com, and Bitget, among other top exchanges.

BONE traded at $0.4416 at press time, up 1.4% in the past 24 hours. The asset has surged over 18% in the past seven days amidst a wider market recovery.

Massive Run in SUN Takes a Step Back as Bulls Pause at $0.035

Albert Brown
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Massive Run in SUN Takes a Step Back as Bulls Pause at $0.035

After an explosive uptrend accounting for 290% in 10 days, will the pullback phase extend below $0.035 in SUN?

SUN, the native token of Sunpump, a new Tron-based platform for meme coins, is showing exponential gains. Over the last ten days, SUN has increased in value by almost 300% and reached almost $400 million in market cap. 

Will SUN maintain a bullish trend as the market recovery gives the Tron ecosystem an additional push?

Catalysts Behind SUN Uprising

With significant growth in the SUN meme coins ecosystem, the $10 million fund from Tron to enhance liquidity has been a key catalyst. The incentive program aimed at boosting the meme coins ecosystem continues to drive this expansion.

Currently, the total amount of USDT on TRON stands at $61.7 billion. Additionally, the recent issuance of one billion USDT tokens on August 20 over the Tron network further increases its dominance.

Explosive Run by SUN

In the 4-hour chart, the bull run in SUN shows a higher high formation in a linear trend from the bottom level of $0.0089. The uptrend peaked at $0.044 yesterday and currently trades at $0.03569 with a 24-hour pullback of 9.50%. 

CRYPTO:SUNUSD Chart Image by Trojan69420

The pullback phase forms a streak of bearish candle concluding near $0.035. Thus, an underlying bullish cushion absorbing the increased supply increases the bounce back chances.

CRYPTO:SUNUSD Chart Image by Trojan69420

With the cushioning at $0.035 absorbing increased supply, lower price rejections in the last few candles arose. In the 1-hour chart, a consolidation is visible as the supply run fizzles out. Hence, the range breakout event will be a decisive trendsetter. 

Support Levels for SUN

The crucial moving averages 50 (green), 100 (red), and 200 (yellow) in the 4-hour chart maintain a bullish alignment. Further, the upside movement in the MAs increases the chances of dynamic support providing a launchpad. 

Based on the Fibonacci levels, the next support level stands at the 23.60% Fibonacci level of the uptrend at $0.03376. Further, in case of an extended pullback, the next support levels for SUN are at 38.20% and 50% level at $0.029 and $0.025, respectively.

Behind SunPump 

Sunpump was launched by Justin Sun, over Tron, to boost the meme coins and meme community over the Tron Network. With the aim to eventually expand the TRON network with additional users and increased activity, SunPump is achieving its goal. 

With total accounts over the network exceeding 250 million, transactions and TVL are skyrocketing. As the TVL over the TRON network is close to hitting $25 billion, the market cap is close to reaching $15 billion. 

With the evident boost and increased social dominance, Tron is ready to rise ranks in the crypto industry as it surpasses Toncoin. 

Bitcoin First Yearly Golden Cross Incoming: Here are Crucial Targets to Watch

Sam Wisdom Raphael
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Bitcoin First Yearly Golden Cross Incoming: Here are Crucial Targets to Watch

The Bitcoin Fibonacci Pivot Points spotlight important targets to watch as BTC looks to record a golden cross for the first time this year. 

This crucial crossover, which occurs when the 50-day moving average (MA) crosses above the 200-day MA, is often regarded as a bullish signal. The last time this crossover occurred was last October, leading to the upsurge in the early bull run phase. Notably, the imminent one would mark the first cross of 2024.

Tom Crown, market analyst and founder of Crown Analysis, called attention to the latest development in an X post. An accompanying chart displays Bitcoin’s daily price action alongside its 50-day (yellow line) and 200-day (green line) moving averages. 

Looming Bitcoin Golden Cross Tom Crown
Looming Bitcoin Golden Cross | Tom Crown

Over the past month, Bitcoin has shown resilience, gradually climbing back from the Aug. 5 low around $49,050. The price has consistently stayed below the 50-day and 200-day MAs for the most of August. However, it breached both moving averages following a 6.13% spike over the weekend.

With Bitcoin currently trading for $63,848 at the reporting time, its price remains above the 50-day moving average at $61,927 and the 200-day moving average at $63,418. In addition, after a significant drop, the 50-day MA appears to be spiking at a faster rate than the 200-day MA, prompting Crown’s optimism of an imminent crossover.

Conditions for the Golden Cross

This setup is forming the foundation for a golden cross. As Bitcoin trades just above both moving averages, a successful cross of the 50-day MA above the 200-day MA could indicate a strong bullish trend. 

However, for this to materialize, Bitcoin’s near-term momentum needs to accelerate, pushing the 50-day MA upward with more conviction. Nonetheless, a failure to sustain this upward momentum could lead to a rejection and a bearish reversal.

Meanwhile, on the daily chart, the Bitcoin MACD line (blue) has crossed above the signal line (orange), confirming the recent bullish momentum. Also, the histogram is showing positive growth, further indicating that the buying pressure might be increasing.

BTC 1D Chart
BTC 1D Chart

Despite the bullish trend, this positive signal is still in its early stages, and the momentum needs to continue building to prevent a potential fakeout. If Bitcoin holds above $63K, it could set the stage for the golden cross to trigger a more significant price rally. 

Key Bitcoin Levels to Watch

Notably, as the market battles the growing uncertainty, Bitcoin’s Fibonacci Pivot Points have identified potential support and resistance levels that could influence the premier crypto asset’s price action in the coming days. 

The pivot point (P) is currently at $62,703, acting as a critical support level. Should Bitcoin retrace, this level could serve as the first line of defense. Below this, the S1 support level at $56,400 provides a stronger floor, which has historically acted as a significant price region for buyers.

BTC Pivot Points
BTC Pivot Points

On the upside, the first resistance level (R1) rests at $69,006. Should the golden cross materialize and bullish momentum continue, breaking above this level could propel Bitcoin towards R2 at $72,900, and eventually to R3 at $79,203, a new all-time high.

Bitcoin Bull Flag Hints at 5.58% Surge to $67,380 Amid Q4 Optimism

Albert Brown
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The resilience of Bitcoin was tested during a significant crash weeks ago, but the asset has proved itself, holding firm above the $60,000 mark. 

Investors are now watching for the next major rally, with some analysts predicting that a new high is within reach. Among them, Milkybull Crypto remains optimistic, identifying a bullish technical pattern that suggests further gains could be on the horizon. Bitcoin appears poised to aim for $67,380, driven by positive technical signals.

Bull Flag Signals Potential Upside

One key signal is the bull flag pattern recently identified in Bitcoin’s price action. This formation typically occurs after an upward move and is seen as a bullish continuation signal. Bitcoin’s consolidation within this pattern suggests a pause before another leg higher. The pattern indicates that once the price breaks above the flag’s upper boundary, Bitcoin may surge further.

Moving averages support this outlook, adding to the bullish momentum. The golden cross, where the shorter-term moving average has moved above the longer-term moving average, is still holding strong. This signal continues to provide dynamic support at lower levels, reinforcing the possibility of additional gains.

Bitcoin needs to rally by approximately 5.58% from its current level of $63,817 to reach the $67,380 target. This projection continues to draw attention from traders, many of whom are optimistic that the bullish pattern will play out in the coming days or weeks.

Historical Trends Point to Bullish Q4

Looking ahead, historical trends provide further optimism for a strong rally. Co-founder of WeRate, Quinten François, points to Bitcoin’s impressive performance during the fourth quarter in previous years. 

Screenshot 2024 08 26T105120576
BTC Historical Trends / Quinten François

October, November, and December have often been marked by substantial gains, with Bitcoin posting an average increase of 22.9% in October alone. Notably, in 2017 and 2020, October saw Bitcoin rise by 47.81% and 27.7%, respectively, establishing this month as a recovery period following Q3 volatility.

November continues to show even stronger results, with an average gain of 46.81%, which is historically one of the best months for Bitcoin. December also contributes to Q4’s bullish reputation, with an average gain of 5.45%, continuing the upward momentum from November’s rally.

Updated Forecasts from Leading Analyst

Meanwhile, Henrik Zeberg, Head Macro Economist at Swissblock AG, maintains an optimistic forecast for Bitcoin despite the current market volatility. Per a Friday report, Zeberg revised his predictions, forecasting Bitcoin to reach a new peak between $115,000 and $120,000. These projections are part of a broader outlook that includes gains for other major indices like the S&P 500 and Nasdaq.

Zeberg’s forecasts reflect confidence in a blow-off top scenario, where euphoric market conditions could drive Bitcoin and other assets to unsustainable levels before a significant correction occurs.

EY Study Finds Over 20% of Institutional Investors Hold XRP

Abdulkarim Abdulwahab
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EY Study Finds Over 20% of Institutional Investors Hold XRP

Prominent global strategy consulting organization EY-Parthenon recently surveyed institutional investor decision-makers globally and found that over 20% of them acknowledged investing in XRP.

XRP community pundit WrathofKahneman (WOK) highlighted this development in a post on X today. The survey covered 277 institutional investors, including COOs, CEOs, and portfolio managers.

The respondents represented wealth managers, family offices, traditional asset managers, hedge funds, and asset owners. The majority of them—at least 147—were from the U.S. Europe made up the next majority, with 90 respondents. Other surveyed institutional investors were from Asia-Pacific (APAC), Canada, and Latin America.

Notably, EY-Parthenon conducted the survey in early March after the SEC approved Bitcoin ETFs. The survey aimed to understand respondents’ views on crypto assets, including sentiment, allocations, future expectations, and tokenization perspectives. A third party ensured a fair and balanced response pool.

Institutional Investors Admit Holding XRP

The survey revealed that a significant proportion of respondents who invest in cryptocurrency have diversified their portfolios beyond the two largest players. Specifically, 57% of respondents have allocated to coins other than Bitcoin (BTC) or Ethereum (ETH), a figure similar to last year’s record of 60%.

This trend is even more pronounced among family offices, with 68% expressing a preference for investing in alternative cryptocurrencies like XRP. 

Yet, it is worth noting that BTC and ETH account for the largest share of their crypto allocation. In particular, 98% of respondents agreed that their firms allocated to Bitcoin, while 78% disclosed that they allocated to Ethereum. 

Solana (SOL) and XRP followed, with 24% admitting to investing in SOL and just 20% agreeing to invest in XRP.

EY study data on crypto asset allocation
EY study data on crypto asset allocation

Meanwhile, the survey also noted a shift in the stablecoin market, with USDC increasing its dominance year-over-year as institutions moved away from Tether (USDT).

While preference for USDC increased, USDT market share from these investors decreased from 42% in 2023 to 35% in 2024. Notably, PayPal USD emerged as one of the top three players in the stablecoin market over the past year.

Future Allocation Plans

The survey also provided insight into the future of digital asset allocation. It revealed that investor segments plan to maintain their current allocation levels from 2023 to 2024. However, a significant increase in allocation is expected over the next three years. 

In 2023, 42% of investors increased their digital asset holdings, 42% kept their allocations steady, and 16% decreased their holdings.

Telegram Questions Reason Behind CEO Pavel Durov’s Arrest

Mark Brennan
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Telegram Questions Reason Behind CEO Pavel Durov’s Arrest

The crypto community rallies around Pavel Durov as French authorities extend the Telegram founder’s detention period.

Popular messaging app Telegram has questioned the reasons behind the arrest of its CEO and co-founder, Pavel Durov. In a post on its platform and on X (formerly Twitter), Telegram noted that the grounds for the arrest were ridiculous, as the app complied with all European regulatory guidelines, including the Digital Services Act.

Telegram stated that it was ludicrous to arrest Durov over claims that he and his platform were responsible for the messaging app’s abuse. Furthermore, Telegram noted that Durov has been traveling around Europe and has nothing to hide. It then sought an immediate resolution of the issue.

Recall that France’s OFMIN arrested Durov at Le Bourget airport on Saturday. The agency said it was investigating the co-founder over charges bordering on fraud, facilitating terrorism and organized crimes, cyberbullying, and drug trafficking, among others.

Durov’s Detention Extended

According to a Sunday ruling by the French judicial authority, the Telegram founder will spend more time in custody. The court noted that this was to allow the OFMIN to question Durov properly.

Notably, the law permits up to 96 hours of detention. After this period, the agency would either release Durov or press charges against him.

Meanwhile, the Russian embassy has inquired into the Telegram founder’s arrest. The agency is also in contact with Durov’s lawyer and has accused the French authorities of refusing to cooperate.

Durov, 39, was born in Russia. He and his brother Nikolai fled Russia because of their involvement with the social network VKontakte (VK), eventually creating Telegram in 2013.

Toncoin, Crypto Community Reacts

Toncoin, the native token of the Telegram-backed chain The Open Network (TON), dropped over 20% on Saturday following Durov’s arrest. The asset’s market cap shed $2.7 billion, temporarily dropping to 10th in the crypto ranking. At press time, Toncoin was trading at $5.67.

The crypto community has thrown its weight behind Durov, as several projects based on TON changed their profile picture to a dog-themed photo to show solidarity. The hashtags #FREEDUROV and #FreePavel are also trending on X.

JXh4nMgI 400x400

Tesla chief and X owner Elon Musk also joined the #FreePavel hashtag, posting a video in which Durov made a statement in support of free speech. The Russian-born CEO was seen saying that he prefers freedom and won’t take orders from anyone.

Ethereum’s Vitalik Buterin Rebukes Claims that Polymarket is Gambling

Albert Brown
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Ethereum’s Vitalik Buterin Rebukes Claims that Polymarket is Gambling

Vitalik Buterin responds to Polymarket criticism, highlights misunderstandings on prediction markets.

Ethereum co-founder Vitalik Buterin recently addressed the ongoing debate surrounding Polymarket and its classification as gambling. Buterin’s comments came after some users voiced concerns over the nature of decentralized prediction markets, triggering a conversation about how the community understands these platforms.

Buterin explained that prediction markets like Polymarket are often misunderstood. In his view, they serve as a social epistemic tool, allowing the public to gain insights into important events without the influence of editorial bias. 

Buterin noted that these markets provide a clearer sense of what is likely to happen in a way that surpasses both social media and news outlets. He emphasized that conditional prediction markets are already finding applications in governance.

Confusion Over DeFi vs. Prediction Markets

The conversation was prompted by a user known as “strobie reeeee” who suggested that confusion arises from how people perceive decentralized finance (DeFi). The user argued that Buterin’s perceived skepticism toward DeFi could stem from the public’s association of DeFi with unsustainable token issuance schemes from 2021. 

However, the user pointed out that DeFi also encompasses healthier applications like lending, borrowing, and synthetic assets. In response, Buterin acknowledged the concerns but reiterated that he supports decentralized applications that are both useful and sustainable over time, highlighting that prediction markets fall into this category due to their utility in information sharing and decision-making.

Surging Adoption of Polymarket

Meanwhile, data shared by Richard Chen indicates that Polymarket has seen a significant uptick in user engagement. The decentralized prediction market platform has reported consistent growth in both trading volume and user accounts. For the past four consecutive months, Polymarket has witnessed a steady rise in monthly trading users, with figures nearing 54,000. 

Furthermore, the platform’s open interest and trading volumes have also seen a significant spike, crossing $100 million for the first time in its history. Additionally, from mid-2023 onward, there is a significant surge in the number of new Polymarket accounts, with peaks reaching over 60,000 new accounts in recent months of 2024.

Screenshot 2024 08 26T090918170
Dune Analytics

Stablecoins and Sustainable Applications

Buterin also expressed his views on stablecoins, calling attention to their role in fostering global economic openness. Although he prefers decentralized options like RAI, he acknowledged that USDC remains more convenient for international transactions, particularly for donations.

Buterin clarified that while he has reservations about USDC, he sees it as a step towards broader adoption of more decentralized stablecoins.

Investor in the Top 0.01% of XRP Rich List Moves 99M+ XRP

Sam Wisdom Raphael
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Investor in the Top 0.01% of XRP Rich List Moves 99M+ XRP

A whale investor falling into the top 0.01% of the XRP rich list shuffles over 99 million XRP tokens across two new wallets.

Market tracking platform Whale Alert indexed the noteworthy fund flow in a recent X disclosure. Notably, the whale in question first received 99.225 million XRP at 15:26 UTC on Aug. 24. This transaction activated the address, marking its first activity.

XRP Whale Transaction Whale Alert
XRP Whale Transaction | Whale Alert

Whale Shuffles 99M+ XRP

This single fund movement pushed the new wallet to the top 0.01% of the XRP rich list. Data sourced by community-driven resource rich-list.info confirms that this cohort of addresses holds balances equal to or greater than 7.46 million XRP, making them the most exclusive tier. There are currently only 529 addresses in the top 0.01%.

XRP Rich List
XRP Rich List

However, nearly 24 hours after receiving the 99.225 million XRP, the wallet in question shuffled the tokens across two different addresses. It first moved 2 million XRP to a relatively older wallet at 15:06 UTC yesterday. Two minutes later, the whale transferred 97.225 million XRP tokens to another new wallet. 

The new wallet has since held onto the tokens, retaining its position among the top 0.01%. Meanwhile, the recipient of the 2 million XRP has continued to move fractions of the assets to multiple platforms, including Nexo, KuCoin, Stake.com, Coinspaid, Crypto.com, and a host of others.

Though the recent whale transactions resemble Ripple’s on-chain activities, there’s no evidence connecting them to the payment firm. Two weeks ago, Ripple transferred 146.9 million XRP, with 46.9 million tokens reaching Bitso and Bitstamp exchanges. The company has continued to move tokens since then.

Who is Behind the Latest Whale Movements?

However, an on-chain investigation by The Crypto Basic revealed that the recent movements do not match Ripple’s typical operations. Instead, these transactions involve creating new whale addresses to shuffle millions of XRP. Also, the wallets in question have no connection to Ripple.

Interestingly, the movement of fractions of XRP to multiple centralized platforms like Nexo, Stake.com and Coinspaid suggests that the whale wallets might belong to another exchange. These smaller movements are often due to withdrawal requests from users. Nonetheless, this remains unconfirmed.

Meanwhile, the recent whale transactions have not had any observable effects on XRP’s price movements. XRP currently changes hands at $0.5996, down 1.75% over the past 24 hours. Despite the ongoing struggles, XRP’s price has increased 5.31% in the last seven days.

Analysts Say XRP Forming Moon Pattern for Big Profits as No Lower Lows are Seen

Sam Wisdom Raphael
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Analysts Say XRP Forming Moon Pattern for Big Profits as No Lower Lows are Seen

Analysts argue that XRP is currently showing signs that could signal a significant price movement in the near future. 

These assertions came from separate analyses from market commentators EGRAG and Mickle, both part of the XRP community. In a recent post on X, EGRAG revealed a bullish setup on the daily XRP chart, confirming its strong market position.

XRP Avoids Lower Lows

In the chart, XRP trades within a broad sideways range, marked by a resistance level near $0.75 and a support level around $0.38. The price has been oscillating between these levels, and the absence of a lower low suggests that the current consolidation phase might be a prelude to a breakout.

XRP 1D Chart EGRAG Crypto
XRP 1D Chart | EGRAG Crypto

Moreover, the 7-day moving average (MA7) is currently above the price, indicating short-term bearish momentum. However, the longer-term 25-day (MA25) and 99-day (MA99) moving averages are holding steady. This confirms that the overall trend remains intact despite the recent drop.

Additionally, the Relative Strength Index (RSI), which measures the magnitude of recent price changes, is in the oversold territory, with values of 11.17 (RSI(6)) and 26.56 (RSI(12)). This low RSI level indicates that XRP may be nearing a bottom. Accordingly, a trend reversal could be in the works.

EGRAG pointed out that despite recent volatility, XRP has not made a lower low. The absence of a lower low shows that the asset is maintaining a strong support level despite the bearish condition. Consequently, EGRAG charged investors to enter the market and relax, affirming his confidence in XRP’s potential.

Parallels with Previous Market Cycles

Meanwhile, market commentator Mickle also drew comparisons between the current XRP market structure and historical price patterns. 

According to him, XRP is in the process of completing a symmetrical triangle pattern, similar to the one observed between 2013 and 2017. Back then, XRP experienced a significant price increase following the completion of this pattern, leading to one of the most parabolic moves in cryptocurrency history.

Mickle also emphasized that during the previous cycle, XRP’s fundamentals were improving while the broader market largely ignored the asset. 

A similar situation is unfolding now, with Ripple continuing to forge partnerships and strengthen its position in the financial industry, even as XRP’s price remains subdued. According to Mickle, these strong fundamentals are setting the stage for another potential explosive move.

Another factor contributing to the bullish outlook for XRP is the conclusion of the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Mickle believes that the recent resolution of the case sets the groundworks for greater XRP adoption, potentially bolstering its growth prospects.

Top Analyst Predicts Explosive Charge to Propel XRP to $33

Abdulkarim Abdulwahab
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0
Top Analyst Predicts Explosive Charge to Propel XRP to $33

A top analyst predicts a significant breakout for XRP, projecting potential price targets up to $33 amid bullish technical signals and market momentum.

XRP was among the notable performers of the weekend crypto market rally, which was led by Bitcoin’s attempt at the $65K price point. XRP advanced by over 7%, hitting a daily high of $0.6304, but closed the day slightly lower at $0.6131.

This commendable performance has caught the attention of proponents like analyst Bobby A. In a post on X, the analyst highlighted his optimism about XRP, asserting that XRP is amid an “explosive charge” ready to send its price higher. 

XRP Paths to Higher Targets

Bobby A presented a technical analysis chart highlighting his XRP expectations, including potential profit-taking targets. Notably, the chart suggested that XRP is forming a breakout pattern on the monthly timeframe, indicating that XRP may be ready to surge significantly if it breaks above its current resistance levels.

Numerous market observers have repeatedly called attention to this potential XRP breakout on the monthly timeframe. Some have even predicted that the asset could embark on its biggest rally ever as a result.

Bobby A’s first target for XRP is a rally up to $0.8722, which would require a growth of 45% from XRP’s current price of $0.6014.

Moreover, the chart shows that at the $0.8722 price point, XRP would break above a long-term descending trendline, potentially flipping its trend from bearish to bullish.

Once this milestone is achieved, Bobby A expects XRP to aim for the $1 threshold, with specific targets at $1.34 and $1.72.

However, the analysis projects that XRP could face challenges scaling from $1.72 to its previous all-time high of above $3. It identified several resistance levels that XRP must overcome before surpassing the ATH threshold and entering a new phase of price discovery.

XRP chart analysis by Bobby A
XRP chart analysis by Bobby A

Profit-Taking Targets for XRP Traders

Interestingly, the analysis suggests that once the significant resistance at around $3 is broken, XRP could experience a smoother ascent beyond this point.

Specifically, it anticipates XRP quickly advancing to $5.31, outlining price points from this level upwards as potential profit-taking zones for investors looking to realize short-term gains. The profit-taking points range from $5.31 to as high as $13.

For crypto market participants buying XRP today, taking profits at $13 would result in a return on investment of over 20 times the initial investment.

Notably, $13 is not Bobby A’s most ambitious price target for XRP. The chart also highlighted a potential price target of up to $33, which represents a massive 5,387% growth from its current price.

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