25 December 2023
The XRP community will no doubt be buoyed by this recent analysis of an early Bitcoin investor who predicts that the XRP price could see a swift move to the upside soon enough. The crypto analyst also seemed to have taken a position in the crypto token in anticipation of this upward move.
XRP Price To Hit $1.33
In a video posted on his YouTube channel, Davinci Jeremie mentioned that XRP is going to see another pump, which will see it move to “$1.33 pretty fast.” Once that happens, he foresees the token retracing to $1 and consolidating there for some time. What is interesting is the fact that Jeremie suggested that this pump will be manipulated.
This is interesting because of XRP’s tepid price movement for some time now and the fact that many continue to say that XRP’s price is suppressed. The crypto analyst further stated that this price manipulation is what happens “every single time.” He alluded to the fact that the XRP price always pumps out of nowhere and without any logical explanation for such a rally.
Meanwhile, Jeremie also highlighted fundamentals that are bullish for the XRP price. This includes Ripple’s major wins in the regulatory environment like the victories against the Securities and Exchange Commission (SEC). Ripple also gained major approvals in Singapore and Dubai this year.
Bitcoin Could Be Headed To $47,000
Jeremie also commented on Bitcoin and its future trajectory. Analyzing the charts, he stated that he expects Bitcoin to hit $47,000 if it stays above the support level of $43,700 but has so far failed to happen, considering that Bitcoin is currently trading below that price level.
The crypto analyst also took a look at the Ethereum chart and mentioned that it wasn’t bullish, considering that it failed to stay above support levels that he considered bullish. He further questioned the possibility of Ethereum bringing Bitcoin down with it. However, many will feel confident in that not happening, considering that Bitcoin has mostly led altcoins and not the other way around.
Meanwhile, Jeremie predicts Bitcoin will see a “Santa Claus rally” before things possibly cool off. Historically, Bitcoin is known to see some gains between Christmas and the new year. It remains to be seen what impact the potential approval of a Spot Bitcoin ETF in January could have on Bitcoin’s price.
Some predict that Bitcoin’s price will likely decline once that happens while others project that it would further spark a surge in the crypto token’s price. Crypto financial services firm Matrixport, in particular, stated that Bitcoin will rise to $50,000 on the back of this development.