- Analyst Mikybull Crypto predicts XRP could hit new highs due to a bullish pennant pattern.
- Ripple’s Filedgr aims to enhance AI systems with advanced data solutions and plans to become a DAO.
In the middle of a varied performance in the crypto market, Ripple’s native coin, XRP, is still struggling to keep above its critical level of $0.60. Recently, analyst Mikybull Crypto gave a bullish outlook for the price of XRP, which might lead to new highs.
XRP Forms Bull Pennant Pattern, Targeting $0.85 and $1
The analyst’s chart shows XRP forming a bull pennant continuation pattern on the daily chart, predicting a massive breakout. The immediate aim for this upward surge is $0.85, with the chance of reaching the much-anticipated $1 milestone.
$XRP has formed a bull pennant continuation pattern on the daily chart.
The breakout will be massive.
The pattern rarely fails
https://t.co/VU4Z9Dg1tX pic.twitter.com/kO02sfLh74
— Mikybull
Crypto (@MikybullCrypto) July 28, 2024
CNF previously highlighted an optimistic view on Ripple’s token. Amelie, a well-known analyst and XRP enthusiast, suggested that if XRP is used for 10% of SWIFT transfers, its value may jump to $1,000.
The community anticipates a future in which the XRP network can execute all SWIFT payments as the crypto sector takes over the existing financial system.
At the time of writing, XRP is trading at $0.6068, down 0.47% over the last 24 hours, with a transaction volume of $942.42 million.
Looking at the firm behind it, Ripple has launched Filedgr, which aims to improve AI systems through advanced data solutions such as Digital Certificates and the Digital Twin Data Hub. Filedgr employs clever NFTs to verify physical items and data. In the future, Filedgr intends to transform into a decentralized autonomous organization (DAO).
On another side, we previously reported James Seyffart, Bloomberg’s senior crypto analyst, who sparked controversy. The XRP community responded negatively when Seyffart joked about Ripple’s token at a recent Bitcoin conference.
