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Where is the next stop in XRP?
President of the United States Donald Trump announced on March 2 that the crypto strategic reserve will include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP through the social platform Truth Social.
In Trump's statement, he said, 'A US Crypto Reserve will elevate this industry after years of corrupt attacks by the Biden Administration. We will ensure that the US becomes the Crypto Capital of the World. We are making America great again.' Trump's remarks revived the market, creating movement in the market, especially for ADA and XRP. However, the absence of BTC and ETH in the initial announcement led to critical voices from some industry stakeholders and raised some question marks. As a result of the uncertainty, the market took back what it had gained over the weekend.
The inclusion of XRP in the reserve has sparked controversy
Crypto analyst Peter Brandt criticized Trump for creating a cryptocurrency reserve including altcoins instead of Bitcoin as a strategic reserve. Brandt explained on social media platform X on March 4th.
In the next post, he expressed as follows:
Bitcoin and gold advocate Peter Schiff found it logical for Bitcoin to be included in reserves as it could be considered digital gold, and argued that XRP is unnecessary.
Charles Hoskinson, the founder of Cardano, which is announced to be included in the strategic reserve of the USA, supported XRP and made the following statement:
What is the target in the XRP price?
Cryptanalyst Egrag Crpto, who evaluates the price movements of XRP since 2017, claimed that the XRP price will rise to the level of $27 to $33 by May 2025 in a statement made through account X.
Analyst used the following statements in his sharing:
"I am analyzing a potential weekly channel formation here, and the highlight is:"
In 2017, from the beginning of the channel to the final breakout - leading to the explosive peak of the cycle - it lasted about 175 days, with a move measured at 2,500% from the bottom of the channel!
Today we are seeing similar XRP price movements; the 21 EMA exponential moving average is closing above ( and there is only a small wick.
If we apply the same model to the market, XRP could rise to the Fib 1.618 level and target between $27 and $33!
And guess what happened? Based on the 2017 cycle, this explosive move can happen in just 28 days!
On the other hand, after the announcement of US Secretary of Commerce Howard Lutnick that he will declare BTC as a reserve at the crypto summit to be held at the White House next Friday, the crypto market turned its face upwards as of Wednesday, March 5th. As a result of the news, the price of BTC showed a 7% increase in the last 24 hours and returned to the 90,000 dollar band again.
XRP, which fell below the psychological threshold of $2 last week, frightening its investors, is trying to resist in the volatile market atmosphere. XRP, which gained 4.45% in the last 24 hours, was trading at $2.47 at the time of writing the news.
This article does not contain investment advice or recommendation. Every investment and trading transaction carries risk and readers should conduct their own research when making decisions.