Ethereum
Here’s What XRP Will Price If Ethereum Hits $22,000, As VanEck Predicts
XRP price is likely to surge above $3 if it follows Ethereum’s price trajectory as ETH hits VanEck’s $22,000 price target.
The current cryptocurrency trading environment is marked by significant volatility, with both Ethereum (ETH) and XRP is experiencing significant declines. In particular, Ethereum typically moves in correlation with Bitcoin (BTC), and XRP typically follows the path set by both assets during market uptrends and downtrends.
While Bitcoin is now trading below the psychologically significant $65,000 threshold, Ethereum has also collapsed below $3,500. XRP Price Trading is below the $0.50 support. Due to this correlation during the market drop, experts believe that all three assets would see similar gains during a recovery.
VanEck Predicts Ethereum Will Hit $22,000
Each token has been the subject of speculation and price projections. Currently, Ethereum stands at $3,435. Earlier this month, VanEck, a major asset manager, made an announcement ambitious prediction Ethereum Could Surge To $22,000. This Prediction Comes Following The Recent US SEC Decision partial approval Ethereum ETF spot deposits, which could be a game-changer for the market.
VanEck’s bullish outlook on Ethereum suggests a possible rebound and impressive growth. If Ethereum reaches this predicted value, it will likely have far-reaching effects on the broader cryptocurrency market, including XRP.
Such an impact materialized when ETH surged 19% in one day last month. speculation The SEC’s approval of the ETH spot ETF gained momentum. Interestingly, XRP price also saw a surge but only managed to make an intraday gain of 5.51% on May 20. XRP eventually rose above $0.55 the next day.
XRP Price If It Follows Ethereum’s Trajectory
Notably, if Ethereum were to rise from $3,435 to $22,000, as VanEck predicts, that would represent a staggering 540.60% increase. If XRP were to experience a similar percentage growth, its price could see a substantial increase. Applying this percentage increase to XRP’s current price of $0.4783, we see that XRP could potentially reach around $3.065.
While this price is still below XRP’s all-time high of $3.31 in January 2018, it represents a significant level from which the crypto asset could reach greater heights. At the same time, market analysts are predicting more substantial targets for XRP’s price, with the most recent projections setting targets at $49 And $36.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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