Could Ripple’s (XRP) price be on the verge of a massive breakout? With talk of an XRP ETF approval, the crypto world is closely watching. Ripple CEO Brad Garlinghouse has described an ETF as "inevitable," and now, market imbalances are raising eyebrows. In this article, we’ll break down why XRP Ripple might see its price surge to $5 or even $10 soon, and what it means for the wider crypto XRP market.
Ripple’s CEO Calls ETF "Inevitable"
Ripple CEO Brad Garlinghouse recently stated that an XRP ETF is bound to happen. His comments come on the heels of successful Bitcoin ETF approvals, which triggered notable price spikes. An ETF for XRP could create a similar effect, making it easier for big players to enter the market.
Currently, XRP is available between $0.5124 and $0.5314, significantly lower than its all-time high of $3.40. But if the ETF approval materializes, we could see a shift. The price might climb toward $5, and some analysts are even eyeing the $10 mark as a possibility.
Market Imbalance: A Big Clue?
A 14,134% increase in XRP's liquidation imbalance was recently reported. What does this mean? This type of imbalance often signals that a big price change is coming. Crypto XRP has support at $0.52091 and resistance at $0.68306 and $0.75475. If the imbalance continues, Ripple crypto could break past these resistance points.
Experts believe this imbalance could be due to speculative deals. Holders might be preparing for an ETF announcement. If the imbalance corrects itself, XRP Ripple could see a sharp price jump, possibly hitting the $5-$10 range that many are hoping for.
Could XRP Hit $5-$10?
Recent news XRP reports suggest that many buyers may hold off until XRP reaches $5. Pundits are already predicting a strong price rally. According to AI-based predictions, XRP Ripple might see a double-digit increase around October 25, 2024. If the ETF approval happens, the price could spike as more people jump in.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
Right now, XRP is slightly below its 10-day moving average of $0.54073 and the 50-day average of $0.55780. If XRP breaks through these levels, it could get momentum toward $5. More buyers would likely jump in after an ETF announcement, possibly pushing the price even higher.
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Conclusion
The combination of an expected XRP ETF approval and a significant market imbalance has positioned XRP Ripple for a possible price surge. Holders are closely watching support and resistance levels, while Ripple crypto enthusiasts await regulatory clarity.
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