XRP Price Will Hit $120, “Melt Faces” According to This Expert Analyst

Akash Girimath
Updated
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XRP Price Will Hit $120, “Melt Faces” According to This Expert Analyst

Highlights

  • Expert analyst Amonyx forecasts XRP price to hit $121 in the current bull cycle, citing end of downtrend.
  • The XRP community files petition against SEC's appeal, gathering over 8,500 signatures in support.
  • Despite short-term volatility, experts maintain a long-term bullish outlook for XRP's price potential.

XRP price has been moving sideways since the recent US SEC appeal. Despite the SEC vs. Ripple lawsuit win, the regulator’s decision to appeal the Southern District Judge Analisa Torres’ July 2023 and August 2024 ruling has dampened the victory celebration. However, this expert analyst forecasts that XRP price could hit $121 in this bull cycle. Let’s explore other XRP news that could impact both Ripple and its native token.

XRP Price is up 0.53% Today

On Tuesday, October 8, Ripple price is up 0.53% and trades at $0.530, in a period of low volatility for the fifth consecutive day after a 9.80% crash on October 2. Since then, Ripple has consolidated in a 7.72% range, extending from $0.506 to $0.545. 

XRP Price Today
XRP Price Today

XRP News: Ripple vs. SEC Lawsuit Update

The US Securities and Exchange Commission (SEC) filed the “notice of appeals” on October 2, as a result, XRP price crashed 9.80%. The major development since then is Ripple (XRP) community filing a petition in disagreement to the SEC’s decision to appeal the July 2023 and August 2024 ruling. This petition has received 8,500 signatures since its filing on October 3. 

SEC vs Ripple Lawsuit: Ripple Community Petition Against SEC Appeal
Ripple Community Petition Against SEC Appeal

In an adjacent development, Moon Lambo notes that the Ripple on September 9 and a month later was almost the same at $0.52. Due to this, the analyst adds that the market does not care about the SEC’s appeal.

Expert Analyst Predicts XRP Price to Hit $121 This Bull Cycle

Amonyx, a popular analyst posted on X to his 100K followers his take on what XRP price could do next. In his analysis, Amonyx showed how Ripple price is nearing the end of a 6.8-year downtrend and a breakout could trigger a volatile rally. 

The expert also takes cues from the 2017 bull run. In this cycle Ripple price shot up 110,466% from $0.003 to $3.31 after four-year consolidation. Considering the 6.8-year downtrend that has been persistent since then, Amonyx hints that a similar uptrend could ensue for Ripple and could propel XRP to $121.

For XRP to reach this target of $121, it would need to inflate by 22,730% from the current price of $0.530. 

XRP/USDT 1-month chart
XRP/USDT 1-month chart

With the short-term outlook bearish, investors need to be patient to get better buying opportunities. Furthermore, Bitcoin also looks ready to slide lower after a failed attempt to push through the $64K hurdle. From a long-term perspective, however, the bullish scenario is preserved unless BTC fails to hold $55K.

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Frequently Asked Questions (FAQs)

1. What is the current XRP price?

The current XRP price is $0.530, with a 0.53% increase today.

2. What is the impact of the SEC appeal on XRP price?

The SEC appeal led to a 9.80% crash in XRP price on October 2, but the market seems to have stabilized since then, with analysts suggesting that the market doesn't care about the SEC's appeal.

3. What are the price predictions for XRP in the long term?

Experts predict XRP could reach $121 in this bull cycle, driven by the end of a 6.8-year downtrend and a potential breakout, which would require a 22,730% increase from the current price.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.