Pundit Explains Why Ripples XRP at $10 Price Just Feels Undervalued
XRP extended its downturn for a second straight week as the coin plunged on Monday, nearing a critical breakdown below the $2 support level. The decline follows broader market turbulence intensified by impending U.S. tariffs set to take effect on April 2, 2025.
Meanwhile, investor sentiment remains split as concerns over inflationary pressures and heightened volatility create uncertainty around XRPs trajectory. However, crypto analyst The Modern Investor recently pointed to a major bullish catalyst, including the surge in ETF applications and groundbreaking news about XRPs inclusion in the US Strategic Reserve. He claimed this development could trigger an avalanche of money flowing into Ripple, potentially propelling XRPs price beyond $10.
There are currently 17 different ETF filings for XRP alone The expectations are quite large If we get 17 XRP ETFs, I think a $25 XRP will feel undervaluedcompletely, extremely, excessively. He stated in on YouTube.
He emphasized that institutional demand for XRP is growing, with banks and major financial institutions accumulating XRP over-the-counter to avoid impacting market prices. This strategy, he believes, could soon change as Ripple reportedly plans to limit such sales, forcing institutions to buy directly from the open market, thereby driving prices higher.
The pundit also elaborated on XRPs price potential, arguing that historical market patterns suggest a major breakout.
A $10 XRP feels like nothing. We hit almost $4 in 2017. A $15 to $20 XRP is kind of just logically going to happen If we get 17 ETFs, thats a little insane, he added.
Further fueling optimism, popular analyst Egrag Crypto highlighted a potential W pattern forming in XRPs price chart, suggesting a possible explosive rally to $27 within 60 days. His analysis is based on historical fractals, comparing the current setup to XRPs 2017-2018 bull run, where the price surged massively over 9 bars (63 days). The pattern indicates a double-bottom structure, a classic bullish formation that often precedes strong upward movements. If the fractal holds, a breakout above $3.82 could trigger a parabolic rise, aligning with Fibonacci targets.
However, not all analysts share this bullish outlook. Veteran trader Peter Brandt has issued a stark warning, cautioning that XRP could face a substantial 50% drawdown due to its current bearish head-shoulder chart structure.
Dont shoot the messenger. Your favorite Beanie Baby/Pet Rock crypto displays a classic complex H&S top. This could become bullish if 3.0 is exceeded, otherwise the implications is a decline to 1.07. he tweeted Friday.
At press time, XRP was trading at $2.13, reflecting a 3.40% increase in the past 24 hours.
Read more: https://zycrypto.com/pundit-explains-why-ripples-xrp-at-10-price-just-feels-undervalued/
Text source: ZyCrypto
