Lokesh Gupta
25-01-2025
CoinShares has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot XRP exchange-traded fund (ETF). This filing reflects a growing trend among financial institutions aiming to offer more investment opportunities in cryptocurrencies within the U.S. market.
Monthly Time Frame:
As per Egrag crypto, The current candle's partial body is sitting above the Green Bent Fork, which indicates a bullish trend is underway! If this position holds throughout the month, it will serve as a strong signal for continued upward momentum.
Hypothetically, if #XRP were to surge today, it could potentially target the Blue Forks 1 and 2 as well as the White Fork, corresponding to price levels of $30, $50, and $60 respectively.
This projection is especially significant because, over time, the price targets of these forks are gradually increasing. This positions XRP favorably for sustained growth in the long term!
1-Day Time Frame Analysis
The formation of a Bullish Pennant is becoming more defined, with a potential breakout expected by February 3, 2025.
If the breakout occurs as projected, XRP could see prices ranging between $5.1 and $5.4, depending on the pennant’s trajectory.
For a conservative outlook, the lower boundary of the pennant can serve as a realistic target, while the upper boundary aligns with a more aggressive and optimistic scenario.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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