The cryptocurrency market has recently started experiencing a downturn, with the price of the flagship cryptocurrency Bitcoin dropping to $64,100 and the native token of the XRP Ledger, $XRP, dropping to $0.52 while a popular analyst suggests a surge to the $4 mark is “feasible.”
In a post shared on the microblogging platform X (formerly known as Twitter), popular cryptocurrency analyst Egrag Crypto weighed in on the price movements of the cryptocurrency, noting that its “current trajectory suggests a possible reach of $1.4 by June-July,” representing a significant increase from its current levels, with a surge to the $1.8 mark being “plausible.”
The analyst added that aiming for the $4 mark is “feasible” for XRP if the cryptocurrency follows a path similar to the one seen back in 2021, when it surged from around $0.3 per token to $1.8 before enduring a correction.
However, Egrag Crypto cautions against unbridled optimism. The analyst acknowledges that a scenario mirroring 2021’s meteoric rise could propel XRP to a new all-time high of $4, but they emphasize that this projection hinges entirely on replicating past performance, something any analyst will say isn’t indicative of future results.
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As reported, the total value locked (TVL) in on the XRP Ledger’s recently launched automated market makr (AMMs) has surpassed 7 million XRP, according to data from DeFi analytics platform DeXfi.
The figure represents a significant increase in just a few weeks, as noted by dUNL validator Vet, who co-founded the non-fungible token (NFT) marketplace xrpcafe on the microblogging platform X (formerly known as Twitter). According to him, more trading pairs with XRP are “contributing a lot to it as well as more inflows in larger pools.”
Os ativos bloqueados, que incluem XRP, Sologenic ($SOLO), USD Coin ($USDC), Bitcoin ($BTC) e Coreum ($CORE), estão atualmente avaliados em cerca de US$ 4 milhões. Do valor total bloqueado, os 3.7 milhões de tokens XRP valem aproximadamente US$ 2 milhões.
Isso representa um aumento de 66% em relação aos 2.2 milhões de XRP relatados em 17 de abril, com o pool SOLO/XRP AMM detendo a maior parcela dos ativos bloqueados, com um TVL de 1.5 milhão de XRP, seguido pelo pool USDC/XRP.
Imagem em destaque via Unsplash.
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- Fonte: https://www.cryptoglobe.com/latest/2024/04/xrp-analyst-predicts-cryptocurrencys-price-surge-to-4-is-feasible-based-on-historical-pattern/
