Crypto analyst predicts XRP could surge 11,745% in a matter of weeks to reach $57.
- XRP Price Remains Flat Despite Recent Optimistic Forecasts
A recent forecast by crypto analyst Amonyx suggests that the price of XRP could skyrocket and could rise by 11,745% in the coming weeks. This has drawn both praise and ridicule from the crypto community, given that the price of XRP has remained virtually unchanged, with the token still trading around $0. 56.
Amonyx, a popular bullish analyst, posted weekly chart on social media platform X, where he predicted that XRP could achieve “massive green God candles” and reach $57 within 8 weeks. This prediction is based on the so-called “God candle” and implies that the price is likely to rise sharply after a period of low volatility.
The concept of the Divine Candle is that after a long period of being low or in a limited range, an asset like XRP can suddenly rise. According to Amonyx, this is just the beginning of the potential exponential growth that XRP is currently experiencing. However, XRP has recorded a loss of 2% in the last 24 hours, and has lost 6.4% of its value in the last week.
Historical Context Casts Doubt on XRP Price Predictions
XRP Performance has been quite gloomy over the past year, with the cryptocurrency valued 10% lower than it was a year ago. This has raised doubts among some market participants about the credibility of Amonyx’s forecast, given that previous forecasts of this kind have not materialized.
Interestingly, Amonyx is not the first analyst to predict the existence of a Divine Candle for XRP. Another analyst, DustyBC, made a similar prediction a few months ago, estimating that XRP could potentially reach $30. However, the cryptocurrency failed to break through the $0.5 level, which made many people doubt that such a significant price change is possible in the near future.
This skepticism is further emphasized The recent conclusion of Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which lasted more than three years. Despite Ripple emerging victorious, the price of XRP has not changed much, leading some people to question the possibility of a price rally.
Crypto Community Reacts to Bold XRP Price Prediction
Reactions to Amonyx’s confidence were mixed, with some expecting huge profits and others being more reserved. Doubt can be seen in the reactions of market participants, with some noting that this has happened before and the predictions have not come true.
One user, Xeowold, noticed on X, “Maybe one day someone will be right,” highlighting the repetitive nature of such optimistic predictions. Another user, Scott, marked sarcastically noted that if he had a dollar for every time someone predicted a sharp rise in XRP, he would be a millionaire by now.
On the other hand, Mehmetemin Tekin, another commentator, indicated that despite the favorable legal outcome for Ripple, the price of XRP remained relatively unchanged. Tekin argued that if the price of XRP has not increased since such a significant event, there is little reason to believe that it will rise sharply in the near future.
