Will XRP Price Surge 3,860% to $17? Exploring Key Catalysts

Will XRP Price Surge 3,860% to ? Exploring Key Catalysts

The current regulatory environment has created uncertainty for Ripple and the broader crypto market. According to expert Cheeky Crypto, significant capital inflows into XRP are creating a golden opportunity for investors. But what’s driving this sudden surge, and is it a fleeting moment or a sign of a major comeback for XRP? He highlighted several reasons why XRP could be making a comeback soon.

Dramatic increase in investment inflows

He started by discussing how XRP has seen a dramatic increase in investment inflows. According to a report from CoinShares, investment in XRP-focused products increased by over $400,000 last week alone, bringing the total to over $18.4 million since the beginning of the year.

This investment surge was further fueled by the launch of the Vinter XRP ETP on Nasdaq Stockholm, joining other established products such as the 21Shares Ripple XRP ETP, CoinShares Physical XRP ETP, the ETC Group Physical XRP, and Valour Ripple XRP.

Overall, digital asset investment products saw inflows totaling $441 million, indicating investor confidence despite recent price volatility caused by external factors such as the Mt. Gox sell-off and German government measures.

Recognition in the Fintech space

He also said that Ripple was named one of the top 250 fintech companies, alongside big names like Coinbase, OpenSea and Ledger. This recognition underscores Ripple’s strong position in the digital asset space and its potential for future growth.

Analysis of the graph of the ‘Bent Fork’

Analyst EGRAG Crypto introduced the “Bent Fork” chart for XRP, which explains historical support and potential future targets. As of June 2023, the chart suggests a new high target of $17, with key resistance at $1. This $1 mark serves as both a structural barrier and a psychological hurdle, given its significance in past trading behavior. XRP’s all-time high is $3.50, and breaking this level could open the gates to substantial gains. The $1 mark remains a key structural and psychological barrier. The equilibrium price around $1.80 is considered a key target, with the final potential target set at $17.

If this happens, XRP will record a whopping 3,860% gain as its price now stands at $0.44.