The well -known analyst Donalt thinks that XRP can again make a mega rise. According to him, the graph of the crypto coin shows striking similarities with the 2017 race pattern, when XRP rose by more than twelve hundred percent within a few weeks.
XRP course shows old patterns
XRP (XRP) is currently at $ 2.28 and has recently undergone a technical outbreak. Analyst Donalt points out that the price trend is reminiscent of the consolidation phase before the spectacular rise in 2017. At that time, XRP climbed from a few cents to its current all-time high of $ 3.40, an increase of more than 1200 percent.
If the current price pattern follows this so -called fractal, then, according to Donalt, XRP could again go towards that old peak, and possibly even further rise.
ETF hype as a possible catalyst
According to Donalt, a new price rally for XRP could be fueled by a Spot Exchange-Traded Fund (ETF). Such a stock market fund would provide institutional investors directly exposure to XRP, without having to buy the coin itself.
According to analysts from Bloomberg, there is a good chance that this approval will come this year: they estimate the chance of no less than 95 percent. That could turn the market sentiment in one fell swoop.
Ripple is taking major steps towards financial integration
Ripple also shows that it has great ambitions. The company recently launched its own Stablecoin RLUSD and thus actively works on expanding its ecosystem. That is not the case: yesterday it was announced that Ripple even applied for a national banking license from the US regulator OCC. The company is therefore taking a hefty step towards integration in the traditional financial system.
Source: https://newsbit.nl/xrp-koers-kan-met-1200-stijgen-volgens-topanalist-donalt/
