Crypto analyst Amonyx has made an ultra-bullish price prediction for the XRP price. Based on his analysis, the crypto could soon enjoy a massive pump that will lead to a price gain of almost 80,000%.
XRP Price To Enjoy “Giga Pump” To $400
Amonyx stated in an X post that an XRP giga pump is incoming. Based on his accompanying chart, the XRP price could enjoy a massive rally to reach as high as $400. Such a price rally will represent a price gain of almost 80,000% for the crypto. The analyst made this prediction using the Elliot Wave theory.
The projected rise to $400 represents a wave 5 impulsive move, with the analyst’s chart showing that this move to the upside was already in play. However, the accompanying chart failed to show when precisely this parabolic move would occur, although it looks like a price target for the peak of this market cycle.
Interestingly, about a month ago, Amonyx predicted that the XRP price could rise to between $50 and $57 this cycle, which looked to be his peak target for this bull run. As such, his recent prediction suggests that the analyst has become more bullish on XRP’s trajectory. His ultra-bullish outlook for XRP could be related to the recent filings by Bitwise and Canary Capital to offer XRP ETFs.
Approval of these funds could attract more institutional investors into the XRP ecosystem, driving more inflows into the crypto and leading to a potential price rally. Amonyx also seems confident that the SEC and Ripple will settle their ongoing legal battle. Therefore, the lawsuit will no longer act as an obstacle to XRP’s potential growth.
A settlement could also signal the potential approval of the pending applications for an XRP ETF since that will confirm that the Commission no longer believes that the crypto is a security.
XRP To Break All-Time High
Amid the ultra-bullish prediction, crypto analyst Jaydee has given a more conservative price target. The analyst predicted that the XRP price would rise to $6.5, marking a new all-time high (ATH) for the crypto. Crypto analyst Egrag Crypto recently stated that XRP would at least rise to $5.89 in the worst-case scenario for the crypto in this bull run.
Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this bull run. Crypto analyst CrediBULL Crypto predicted that the crypto could reach $10 in this market cycle based on his belief that ETH will hit $10,000.
The XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defender told market participants there will be an “extraordinary” breakout starting this month.
Featured image created with Dall.E, chart from Tradingview.com
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