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- XRP’s legal clarity and non-security status position it for exceptional performance in the upcoming bull run.
- Leading Japanese banks are integrating XRP to revolutionize cross-border transactions, driving global adoption.
According to a recent chart shared by a popular analyst, XRP’s price appears to be on the verge of a Symmetrical Triangle pattern, indicating a significant breakout that could take the token to a new all-time high (ATH), potentially reaching $100.
This prognosis has sparked widespread interest, particularly among the crypto community, as it signals a seismic upheaval in the market.
XRP Potential to Flip ETH Sparks Social Media Buzz
Amonyx, a crypto analyst and influencer, has stated that XRP’s excellent success in the most recent market cycle could lead to Ripple token flipping Ethereum (ETH), maybe even Bitcoin (BTC).
This bold prediction has ignited discussions across social media platforms, with many XRP aficionados speculating on the cryptocurrency’s future direction.
Previously, we highlighted analysis from Javon Marks, another well-known analyst who stressed XRP’s potential. According to Marks, if XRP maintains its current trend, it might surpass $263.
The fact that XRP has a strong legal position and has defeated the SEC, firmly establishing XRP as a non-security asset, has a significant impact on this optimistic prognosis.
This legal certainty is likely to lay a solid platform for XRP to achieve great performance during the next bull run, a sentiment shared by several other well-known X analysts.
However, Amonyx identified $0,2918 as a significant support level in the event that the price falls sharply from the Symmetrical Triangle pattern. This cautious note highlights the fickle nature of the crypto market, where projections can alter quickly.
Beside that, Whale Alert discovered two major transfers from an unknown wallet, moving 27.64 million XRP worth $15.33 million to Bitso and 27.44 million XRP worth $15.23 million to BitStamp.
🚨 27,640,000 #XRP (15,337,305 USD) transferred from unknown wallet to #Bitsohttps://t.co/Wk4UQbxUdW
— Whale Alert (@whale_alert) August 15, 2024
These transactions occurred within minutes of one another, gaining notice from the crypto community. At the time of writing, the transmitting wallet still held 1.8 million XRP, which was worth $1.015 million.
On the other hand, CNF has revealed that prominent Japanese banks are working feverishly to revolutionize cross-border transactions by incorporating XRP into their ecosystems.
Banks such as SBI Holdings and Mizuho Bank, as part of a 61-member consortium, are actively promoting worldwide cryptocurrency adoption, with a special emphasis on XRP.
Meanwhile, at the time of writing, XRP is trading around $0.5599, down 1.59% over the last 24 hours, and approaching critical support at $0.5480.
