{"id":634143,"date":"2024-08-09T03:00:42","date_gmt":"2024-08-09T03:00:42","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=634143"},"modified":"2024-08-08T16:23:32","modified_gmt":"2024-08-08T16:23:32","slug":"analyst-mega-bullish-on-xrp-foresees-potential-etf-and-price-range-between-16-20","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/xrp-news\/analyst-mega-bullish-on-xrp-foresees-potential-etf-and-price-range-between-16-20\/","title":{"rendered":"Analyst Mega Bullish On XRP, Foresees Potential ETF And Price Range Between $16-$20"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In a significant legal victory for Ripple Labs, Judge Analisa Torres recently <\/span><a href=\"https:\/\/www.shenyangcang.com\/breaking-news-ticker\/breaking-xrp-price-rallies-27-as-ripple-secures-major-win-in-sec-lawsuit\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">ruled <\/span><\/a><span style=\"font-weight: 400\">in favor of the company in its prolonged legal battle against the US Securities and Exchange Commission (SEC), ordering a payment of $125 million to the regulator. The ruling also clarified that XRP, the cryptocurrency at the center of the case, is not deemed a security, marking a pivotal moment for the token&#8217;s future outlook.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Analyst Sees Bright Days Ahead<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Following this landmark decision, the sentiment surrounding XRP has turned increasingly bullish. Crypto analyst Doctor Profit, in a new <\/span><a href=\"https:\/\/x.com\/DrProfitCrypto\/status\/47927294\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">analysis report <\/span><\/a><span style=\"font-weight: 400\">published post-ruling, highlighted the long-term potential of XRP.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Contrary to short-term trading strategies, Doctor Profit emphasized that XRP is designed for investors with a patient outlook, citing its historical price range of $0.42 to $0.72 over the past year. <\/span><span style=\"font-weight: 400\">Acknowledging XRP&#8217;s<\/span><a href=\"https:\/\/www.shenyangcang.com\/analysis\/xrp\/xrp-price-rallies-0-640\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> past performance<\/span><\/a><span style=\"font-weight: 400\">, Doctor Profit pointed out that in 2017, XRP surged by a remarkable 60,000%, showcasing its potential for explosive growth.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/bitcoin\/cryptoquant-ceo-bitcoin-price\/\" target=\"_blank\" rel=\"noopener \">CryptoQuant CEO Says Bitcoin Price Could Reach New ATH If It Holds This Level<\/a><\/div>\n<p><span style=\"font-weight: 400\">Despite facing setbacks such as a significant crash in 2020 due to the SEC lawsuit, XRP has consistently maintained a position in the top 10 cryptocurrency market cap rankings alongside Bitcoin for over a decade.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, <\/span><span style=\"font-weight: 400\"><span style=\"margin: 0px;padding: 0px\">the analyst said the recent US court ruling confirming that XRP is not a security has provided much-needed <a href=\"https:\/\/www.shenyangcang.com\/analysis\/xrp\/xrp-prediction-bullish\/\" target=\"_blank\" rel=\"noopener \">regulatory clarity<\/a> and optimism for the token&#8217;s future<\/span>.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Doctor Profit speculated on the possibility of a spot XRP Exchange-Traded Fund (ETF) in the works, aligning with past ETF approvals starting with Bitcoin, followed by Ethereum, and potentially XRP.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Breakout Potential For XRP<\/span><\/h2>\n<p><span style=\"font-weight: 400\">With the lawsuit pressure lifted, Doctor Profit expressed strong confidence in XRP&#8217;s bullish prospects, emphasizing the positive signals from both a regulatory and technical standpoint.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The technical analysis highlighted a key<\/span><a href=\"https:\/\/www.shenyangcang.com\/analysis\/xlm\/xlm-price-stellar-surges-0-10\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\"> resistance level <\/span><\/a><span style=\"font-weight: 400\">at $0.72, with a potential breakout signaling a bullish scenario for XRP&#8217;s price trajectory. Currently trading at $0.6150, the token has gained 23% in the last 24 hours alone, outperforming most of the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If the current uptrend holds, this key resistance level outlined by Doctor Profit could be breached, given the <\/span><a href=\"https:\/\/www.shenyangcang.com\/news\/explosive-xrp-prediction-analyst-foresees-20-fold-gain\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">bullish catalyst <\/span><\/a><span style=\"font-weight: 400\">and regulatory clarity the token has gained following the court ruling.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/bitcoin-news\/more-pain-ahead-analyst-warns-of-imminent-bitcoin-plunge-below-54000-to-fill-cme-gap\/\" target=\"_blank\" rel=\"noopener \">More Pain Ahead: Analyst Warns Of Imminent Bitcoin Plunge Below $54,000 To Fill CME Gap<\/a><\/div>\n<p><span style=\"font-weight: 400\">If this and other higher levels are breached, Doctor Profit has outlined price targets for XRP, projecting a best-case scenario of $16 to $20 and a worst-case scenario of $4 to $7 within a one-year timeframe.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Lastly, leveraging insights gained over four years of investing in XRP, Doctor Profit advised investors to focus on strategic buy zones and remain steadfast in their long-term commitment to the cryptocurrency.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/yqejNhHi\/\" alt=\"XRP\" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">The 1D chart shows XRP&#8217;s price increase in the last 24 hours. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">XRPUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a significant legal victory for Ripple Labs, Judge Analisa Torres recently ruled in favor of the company in its prolonged legal battle against the US Securities and Exchange Commission (SEC), ordering a payment of $125 million to the regulator. The ruling also clarified that XRP, the cryptocurrency at the center of the case, is not deemed a security, marking a pivotal moment for the token&#8217;s future outlook. Analyst Sees Bright Days Ahead Following this landmark decision, the sentiment surrounding XRP has turned increasingly bullish. Crypto analyst Doctor Profit, in a new analysis report published post-ruling, highlighted the long-term potential of XRP.\u00a0 Contrary to short-term trading strategies, Doctor Profit emphasized that XRP is designed for investors with a patient outlook, citing its historical price range of $0.42 to $0.72 over the past year. Acknowledging XRP&#8217;s past performance, Doctor Profit pointed out that in 2017, XRP surged by a remarkable 60,000%, showcasing its potential for explosive growth.\u00a0 Related Reading: CryptoQuant CEO Says Bitcoin Price Could Reach New ATH If It Holds This Level Despite facing setbacks such as a significant crash in 2020 due to the SEC lawsuit, XRP has consistently maintained a position in the top 10 cryptocurrency market cap rankings alongside Bitcoin for over a decade. Moreover, the analyst said the recent US court ruling confirming that XRP is not a security has provided much-needed regulatory clarity and optimism for the token&#8217;s future.\u00a0 Doctor Profit speculated on the possibility of a spot XRP Exchange-Traded Fund (ETF) in the works, aligning with past ETF approvals starting with Bitcoin, followed by Ethereum, and potentially XRP. Breakout Potential For XRP With the lawsuit pressure lifted, Doctor Profit expressed strong confidence in XRP&#8217;s bullish prospects, emphasizing the positive signals from both a regulatory and technical standpoint.\u00a0 The technical analysis highlighted a key resistance level at $0.72, with a potential breakout signaling a bullish scenario for XRP&#8217;s price trajectory. Currently trading at $0.6150, the token has gained 23% in the last 24 hours alone, outperforming most of the market.\u00a0 If the current uptrend holds, this key resistance level outlined by Doctor Profit could be breached, given the bullish catalyst and regulatory clarity the token has gained following the court ruling.\u00a0 Related Reading: More Pain Ahead: Analyst Warns Of Imminent Bitcoin Plunge Below $54,000 To Fill CME Gap If this and other higher levels are breached, Doctor Profit has outlined price targets for XRP, projecting a best-case scenario of $16 to $20 and a worst-case scenario of $4 to $7 within a one-year timeframe.\u00a0 Lastly, leveraging insights gained over four years of investing in XRP, Doctor Profit advised investors to focus on strategic buy zones and remain steadfast in their long-term commitment to the cryptocurrency. Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":624116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89561],"tags":[6664,14690,3680,15063,83637,90415,13172,90403,15883,91056,89423,78763],"class_list":["post-634143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-crypto","tag-crypto-news","tag-ripple","tag-ripple-xrp-price-forecast","tag-xrp-news","tag-xrp-news-sec-lawsuit","tag-xrp-price","tag-xrp-price-after-lawsuit","tag-xrp-price-analysis","tag-xrp-price-breakout","tag-xrp-price-news","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>Analyst Mega Bullish On XRP, Foresees Potential ETF And Price Range Between $16-$20<\/title>\n<meta name=\"description\" content=\"In a legal victory for Ripple Labs, the 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