Analyst Predicts 263.81% XRP Rally to $1.62 Amid ETF Speculation

Crypto analyst Captain Faibik has made a bold prediction that XRP could experience a rally of 263.81% if it can break through the resistance level of $0.64. This rally could potentially push the price of XRP up to $1.62. The optimism surrounding XRP comes amid speculation of the launch of an XRP exchange-traded fund (ETF). Despite concerns over the rejection of Ethereum fund proposals by the SEC, the possibility of an XRP ETF continues to generate excitement in the crypto market. Captain Faibik’s analysis takes into account XRP’s historical price movements, which have been marked by significant volatility, including major rallies and corrections. After reaching a peak of $1.9000 in the first quarter of 2021, XRP experienced a correction and dropped to $0.52 by July 2021. Since then, it has entered a consolidation phase, forming a symmetrical triangle pattern. If XRP can break out of this pattern and surpass the $0.64 resistance level, Captain Faibik’s chart shows a potential price target of $1.62, representing a 263.81% increase from current levels. Ripple CEO Brad Garlinghouse remains confident that an XRP ETF will eventually be launched, and there are predictions that it could happen as early as 2025. The approval of Ethereum ETFs by the SEC suggests that cryptocurrencies such as Ethereum and XRP may not be classified as securities. The regulatory landscape is shifting, and the crypto industry is eagerly awaiting the launch of various ETFs, including those tracking XRP.