Top Analyst Doubles Down On “Inevitable” $50 XRP Price

In a recent analysis, prominent market analyst Amonyx (@amonbuy) reaffirmed his prediction that XRP could soar to $50 within the current market cycle.

This time, Amonyx went a step further, writing, “XRP will quickly go above $10+ and then above $50+, there is nothing you can do about it.” His belief in the inevitability of this target has inspired confidence in some XRP holders but has also caused some skepticism.

In a previous analysis, Amonyx detailed XRP’s path to $50, attributing this climb to a God Candle potentially forming on XRP’s chart. According to his analysis, the conditions are set for the digital asset to break out of its extended period of consolidation, with the potential for substantial green candles to appear on the weekly chart.

Is an XRP Resurgence Imminent?

XRP’s prolonged decline has been well documented, as it has fallen significantly from its all-time high of $3.84 which it reached in January 2018. Despite some notable rallies, XRP has largely been in a downtrend since then, suppressed by the infamous XRP lawsuit.

However, this legal battle with the U.S. Securities and Exchange Commission (SEC) is over, and Ripple came out victorious, setting the stage for what many believe will be a massive price rally for XRP.

Amonyx’s analysis suggests that this dramatic reversal is on the horizon, driven by the anticipated breakout. Although similar predictions have been made in the past, Amonyx remains firm in his conviction that XRP will achieve new highs, potentially reaching $50.

Skepticism Among Market Participants

Despite Amonyx’s confidence, many in the market have expressed doubt about the likelihood of XRP reaching such heights. These concerns stem from the fact that similar predictions have been made multiple times in the past, yet they have not materialized. Several commentators have voiced their skepticism on social media, questioning the feasibility of Amonyx’s projections.

One user humorously commented that the pattern in the discussion has been “stretched more than Pinocchio’s nose”. Another user criticized the approach of drawing speculative lines on a chart without considering the broader market context.

Additionally, some market observers expressed doubts about XRP’s potential for significant gains, with one individual pointing out that XRP has been around $0.57 since 2018.

However, Amonyx has reiterated the $50 price multiple times. He remains confident that XRP will hit this target soon. In another analysis he recently shared, he described the $50 level as “programmed”, stating confidently that nothing can stop XRP’s rise.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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