• XRP could potentially reach $6.1 by the end of August, based on spring 2017 fractal analysis.
• Ripple’s XRP is expected to play a major role in bridging CBDCs in a global monetary reset.

Despite the continued bearish narrative that continues to dominate the crypto market, some analysts remain hopeful about the possibility of a major cryptocurrency rally.

One such analyst, Jack The Rippler, recently offered his analysis of the Ripple token, anticipating a potential spike that might result in a new all-time high (ATH).

According to Jack, the price of XRP might reach $6.1 by the end of August, based on the spring 2017 fractal pattern he discovered in the charts.

Crucial XRP Support Level for Bullish Rally and Global Adoption 

However, for this bullish scenario to play out, XRP must remain above the critical support zone that Jack has identified. This support level is critical in verifying the story of a potential rally because remaining above it indicates market strength and tenacity.

As of this writing, XRP is trading around $0.5664, up 0.60% over the last 24 hours, with a daily trading volume of more than $470 million.

In addition to this bullish prognosis, our prior report showed that XRP could play an important role in linking Central Bank Digital Currency (CBDCs) from various countries during a future global monetary reset. Ripple’s token is being discussed as a potential future global reserve currency and bridge currency for cross-border transactions.

This notion is further supported by major Japanese banks’ integration of XRP for cross-border transactions, which could expedite the cryptocurrency’s global adoption.

Furthermore, despite the current downward trend in XRP’s price, major movements by large holders, or “whales,” have occurred.

Notably, CNF earlier reported on a whale who transferred 21,891,000 XRP from Bittrex to an unknown wallet, indicating a potential long-term holding plan. This big transfer indicates that some investors remain optimistic about XRP’s future potential, preferring to hold rather than sell despite present market conditions.

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