Analyst Predicts Bullish Christmas Forecast For Ripple's Native Crypto

The recent rally of XRP price beyond the $0.66 mark has sparked optimism in the market, with many anticipating the rally to continue ahead.

A recent XRP price analysis by Myles G Investments has sparked optimism in the market, with many anticipating the crypto to hit $3 by Christmas.

The analysis comes as XRP price shows signs of slowing down after a recent rally that saw the coin briefly touch the $0.66 mark. However, the coin’s price has since fallen by nearly 5%, trading at the $0.62 level at the time of writing.

Despite the recent price changes, optimism remains high among market pundits, especially with many anticipating a bullish October for the crypto market.

Moreover, crypto market analysis shows that Bitcoin and top altcoins tend to experience an upward momentum during the final quarter of the year, which has many anticipating the bull run to continue through the quarter.

On the other hand, recent dovish remarks from Fed Chair Jerome Powell and other central bank officials regarding their monetary policy have also sparked optimism in the market.

As reported earlier this week, several members of the Federal Open Market Committee (FOMC) have expressed concerns over the rapid pace of interest rate hikes by the central bank.

Some officials believe that the Fed should slow down the pace of rate hikes to avoid overtightening, while others have highlighted the importance of continuing the fight against inflation.

Meanwhile, a recent report by BofA Securities has shown that the upcoming Fed Put is unlikely to save the markets from further losses.

The markets have been anticipating a pivot by the central bank in 2023, which is expected to help prop up asset prices once again.

However, the BofA analysts believe that the Fed will not be able to pivot as quickly as the markets are expecting, which will lead to further losses in the S&P 500 and other major indices.

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