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Analyst XForceGlobal forecasts a 10X increase for XRP. The range is $20-$30.
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Long-term holders maintain their positions, which indicates low selling pressure.
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DeFi products from Flare, Axelar and others have been in high demand. Plans are being made to lock up billions of dollars worth of XRP.
XForceGlobal is a certified Elliott Wave analyst and believes that the extended period of sideways XRP trading is setting the stage to a major rally.
The analyst believes that the more XRP consolidates in its current range, then the stronger the next price target becomes. He said that the accumulation of long-term holders was a bullish sign that the market was preparing for an explosive breakout.
In a recent tweet, XForceGlobal emphasized that “more accumulation equals bullish.” Notably, he emphasized the continued lack of selling as a key indicator of market strength.
The primary target for XRP remains $20-$30
In its commentary, XForceGlobal provided a chart that showed XRP had broken out of a triangle pattern. The analyst outlines a possible five-wave rise using Elliott Wave theory. Waves (3), (4) and (5) are expected to push XRP prices significantly higher over the next months.
XForceGlobal has a primary price projection of $20-$30 based on the current wave structure. This forecast represents a roughly 10X increase from XRP’s $2.78 current price.
The prediction is based on the idea that people aren’t “selling,” which means supply continues to tighten while demand increases. The market is bullish because long-term investors are holding their positions and there is limited selling pressure.
As the accumulation phase continues, XRP could be given the fuel it needs to make a decisive step towards the analyst’s highest targets.
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Views from Other Market Watchers
Bobby A, a market watcher, commented on the analysis and said that “the move from here will be explosive” once the accumulation is over, and sellers are exhausted.
XForceGlobal responded by stating that no one would even be able to see it coming and that only early buyers will reap any rewards.
Gladinus, a X user, also commented that institutions were entering the market and XRP DeFi usage will prove its demand. “This will bring lasting appreciation, not only hype,” he said.
XRP was notable for the release of several yield-based products from Flare and Axelar last week. Flare’s products attracted 5 million tokens within hours, highlighting massive demand for DeFi XRP.
Related XRP holders can now mint stablecoins with Enosys’ new loan protocol
The two platforms intend to secure 8 billion XRP over the next few months. Many believe it could lead to a supply shock that could push the price up.
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