Based

bullish

Rally

United

A crypto analyst predicts that the <a href="https://bitcoinist.com/xrp-price-moves-market/" target="_blank" rel="noopener nofollow">price of XRP</a>, the native token of the XRP Ledger (XRPL) could witness a 1,000X rally soon. Despite the recent significant decline in the cryptocurrency’s price, the analyst remains confident in the future outlook of XRP.&nbsp;&nbsp; 
<h2 id="b-xrp-gears-up-for-1-000x-surge-b">XRP Gears Up For 1,000X Surge</h2> 
A crypto analyst identified as ‘Mickle’ on X (formerly Twitter) has <a href="https://x.com/xrpmickle/status/1818649121269448947?s=46" target="_blank" rel="noopener nofollow">shared</a> bullish insights on XRP’s future value, emphasizing the cryptocurrency’s potential to break out of bearish trends and witness a <a href="https://bitcoinist.com/xrp-price-rise-2900-to-18/" target="_blank" rel="noopener nofollow">massive rally</a> to new highs. 
During his video post, Mickle revealed that XRP could witness a substantial bullish surge of 1,000X soon. This means that the crypto analyst <a href="https://bitcoinist.com/xrp-price-interesting-predictions/" target="_blank" rel="noopener nofollow">expects XRP’s price to rise</a> from its current value of $0.57 to $570 in this bullish cycle.&nbsp; 
The analyst has based his <a href="https://bitcoinist.com/300x-xrp-price-forecast-are-highly-unrealistic/" target="_blank" rel="noopener nofollow">ambitious predictions </a>on a positive regulatory change in the United States. According to Mickle, the US is set to witness a massive political shift that could favor the industry by providing clear <a href="https://www.newsbtc.com/xrp-news/xrp-price-jumps-as-ripple-leadership-blasts-secs-hypocritical-crypto-regulation/" target="_blank" rel="noopener ">regulations </a>for cryptocurrencies to prosper. As a result, prominent cryptocurrencies including XRP are poised for a major breakout.&nbsp; 
Mickle disclosed that the cryptocurrency community has endured an extremely <a href="https://bitcoinist.com/sec-anti-crypto-bill-ripple-clo/" target="_blank" rel="noopener nofollow">hostile environment in the US</a>, marked by numerous leading regulatory agencies taking seemingly aggressive enforcement actions against the industry. Despite these <a href="https://bitcoinist.com/secs-crypto-stance-is-anti-investor-coinroutes-ceo-slams-us-regulator/" target="_blank" rel="noopener nofollow">challenges</a>, the analyst indicated that the crypto space has shown <a href="https://bitcoinist.com/shiba-inu-member-says-crypto-is-stronger-than-ever/" target="_blank" rel="noopener nofollow">remarkable resilience and tenacity</a>, emerging stronger after winning multiple court cases and successfully pushing for pro crypto legislation.&nbsp; 
Despite the recent <a href="https://bitcoinist.com/xrp-price-on-the-edge-will-bulls-hold-the-line-at-0-60-or-is-a-major-crash-looming/" target="_blank" rel="noopener nofollow">decline in the price of XRP</a>, Mickle continues to remain bullish, doubling down on his predictions in his most recent posts. According to the analyst, XRP’s price movement is currently in the process of finishing a massive formation similar to a <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-6-year-triangle-1/" target="_blank" rel="noopener ">symmetrical triangle pattern</a> seen between 2013 to 2017.&nbsp; 
Mickle <a href="https://x.com/xrpmickle/status/1819373242202599880?s=46" target="_blank" rel="noopener nofollow">highlighted</a> that during XRP’s triangle formation from 2013 to 2017, the cryptocurrency faced multiple declines and bearish sentiments. However, despite the <a href="https://www.newsbtc.com/analysis/xrp/xrp-rally-to-0-6360-subsides-as-price-faces-new-decline/" target="_blank" rel="noopener ">downtrend</a>, XRP experienced an unexpected surge, reaching new&nbsp; price levels. 
Based on this analysis, the crypto analyst suggests that XRP is currently in a similar bearish trend but with a <a href="https://bitcoinist.com/pundit-says-xrp-price-will-see-16500-rally-to-100-heres-the-timeline/" target="_blank" rel="noopener nofollow">bullish outlook ahead</a>. He believes that if XRP successfully completes this symmetrical triangle pattern, it could potentially witness an exponential <a href="https://bitcoinist.com/xrp-failure-to-perform-expert/" target="_blank" rel="noopener nofollow">breakout to the upside</a>.&nbsp; 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/qD03K16J/" width="1835" height="883"> 
<h2 id="b-xrp-price-plummets-below-0-6-b">XRP Price Plummets Below $0.6&nbsp;</h2> 
Earlier this week, <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-beats-btc-0-650/" target="_blank" rel="noopener ">XRP’s price</a> was trading above the $0.6 mark, displaying a strong tendency to break out of bearish trends and continue its upward momentum. However, in the last 24 hours, the <a href="https://www.newsbtc.com/xrp-news/xrp-price-slides-10-amid-rising-on-chain-activity-and-whale-transactions-key-supports-in-focus/" target="_blank" rel="noopener ">cryptocurrency has dipped</a> by a massive 10%,&nbsp; presently trading at a price of $0.57.&nbsp; 
According to CoinMarketCap, XRP has also recorded a sharp decline of 4.2% over the past seven days. This unexpected price dip comes as the <a href="https://www.newsbtc.com/xrp-news/why-xrp-price-wont-skyrocket-after-ripple-sec-ruling-crypto-pundit/" target="_blank" rel="noopener ">legal battle</a> between Ripple and the United States Securities and Exchange Commission (SEC) nears conclusion.&nbsp; 
Nevertheless, market intelligence platform, Santiment has <a href="https://x.com/santimentfeed/status/1819502487222526287?s=46" target="_blank" rel="noopener nofollow">revealed</a> that when prominent cryptocurrencies like XRP, ETH, BTC, and others show low 7-day average trader returns, it suggests an increasing likelihood of a <a href="https://www.newsbtc.com/news/ripple/xrp-price-rebound-0-5050/" target="_blank" rel="noopener ">price rebound</a>.&nbsp; 
Featured image from Seeking Alpha, chart from TradingView

Can XRP Rally 1,000X Despite The Drop Below $0.6?

Table of Contents

NewsBTC

Other articles published on Aug 3, 2024

Donald Trump Jr. Challenges Harris: Will She Face Off on FOX News?

Security Risk Advisors Announces Launch of VECTR Enterprise Edition

Coinbase CLO Dismisses Allegations Of $25M Illegal Political Donation

Top Altcoins Boosted by Crypto Whales

Cardano’s Comeback: The Key Factors That Could Help It Succeed

Exploring the Potential of Volt Inu Coin, a New Crypto

Join our free newsletter for daily crypto updates!