$29.32 or $0.13? Bitwise Breaks Down the Possibilities

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$29.32 or $0.13？ Bitwise Breaks Down the Possibilities

Despite the recent victory in the SEC vs. Ripple lawsuit, XRP‘s price hasn’t seen much movement. The 3-day chart still shows a clear bearish trend, with the token stuck in a pattern that suggests no major bullish momentum is expected in the near future.

On the resistance side, XRP is facing short-term resistance at around $2.50 and $2.56. If the price manages to break above these levels, there is further resistance between $2.65 and $2.80.

Sideways Movement Continues for XRP

For the time being, XRPs price action remains largely neutral, bouncing between support and resistance levels. There is a lack of strong directional momentum, with both short-term bullish and bearish price movements occurring intermittently. This sideways price range is expected to continue unless a significant breakout or breakdown occurs.

Short-Term Pullback and Potential Support Levels

Looking at the shorter 8-hour time frame, XRP is currently experiencing a pullback. This could potentially lead to a test of support levels between $2.24 and $2.30. If the price breaks below this area with confirmation, the next significant support zone would be between $1.95 and $2.05.

Bitwises Price Prediction for XRP by 2030

Bitwise, a cryptocurrency fund manager, believes XRP could reach $29.32 by 2030 if it captures a large share of the payments and tokenization markets, greatly increasing its value. XRP‘s market cap could grow to $2.9 trillion, more than Microsoft’s. In a “bull” scenario, XRP could reach $12.70 by 2030 if it grows steadily, although it may face challenges in payments and tokenization. On the other hand, if XRP struggles to gain traction and institutional support fades, its price could drop to just $0.13 in the worst-case “bear” scenario.