XRP Price Prediction: Crypto Analyst Amonyx Predicts the Token Could Reach Double Digits This Market Cycle

Crypto analyst Amonyx has laid an ultra bullish price prediction for the XRP price, predicting that the crypto token could reach double digits at some point.

Crypto analyst Amonyx has predicted that XRP could reach double digits this year, despite the token's continued underperformance following the conclusion of the Ripple-SEC case.

According to a recent X (formerly Twitter) post by Amonyx, a massive "God candle" is loading, which will propel XRP's price to $57. The analyst's chart indicates that this price target could be achieved sometime next year, potentially during the peak of the current market cycle.

However, Amonyx did not provide any specific reasons for XRP's potential surge to such an ambitious price level. A more recent X post from the analyst suggests that they believe the potential launch of a Spot XRP ETF could enable the crypto token to reach such unprecedented heights.

A Spot XRP ETF has also been cited by other crypto analysts, such as Common Sense Crypto, to explain why XRP could even reach three digits. A XRP ETF would likely bring new money into the XRP ecosystem, contributing to a price surge. But it remains to be seen whether such a fund could single-handedly drive XRP to such lofty heights.

The launch of a Spot XRP ETF seems more likely following the recent conclusion of the Ripple-SEC case, which could pave the way for such funds to be approved by the SEC.

Nevertheless, members of the XRP community will likely be cautious about getting their hopes too high regarding the launch of such an ETF and its potential impact on XRP's price, especially considering the token's performance since the lawsuit ended.

During the final stages of the case, some XRP holders projected that the conclusion would be a catalyst that could drive XRP to as high as $1 in the short term. However, XRP has shown no signs of reaching that price mark anytime soon, failing to break above even the $0.6 resistance following Judge Analisa Torres' recent ruling.

Meanwhile, another crypto analyst, Javon Marks, has offered a more bullish price prediction for XRP, suggesting that a bullish breakout could propel the crypto token to $263, based on the Full Logarithmic Follow-Through indicator.

According to Marks, this bullish breakout is more than possible, considering that XRP is nearing the converging point of a nearly "7-year consolidation/pattern development." The analyst also noted that the crypto token has displayed multiple bullish signals, which could lead to this breakout at some point.

At the time of writing, XRP's price is around $0.56, down over 2% in the last 24 hours, according to data from CoinMarketCap.

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