Crypto enthusiast Bark makes a bold prediction, expecting XRP to reach the $7-10 range soon. This forecast comes at a time when XRP is showing signs of recovery.
Recent Market Performance
XRP has shown both pressure and resilience in recent weeks. After trading near $3 in late August, the asset faced a downturn, briefly falling below this level due to overall negative market sentiment. However, in recent days, XRP has regained momentum, surpassing the $3 mark.
Upcoming Federal Reserve Meeting
Markets are focused on the upcoming Federal Reserve meeting scheduled for September 17. Analysts expect the Fed to cut interest rates by 25 basis points, which could drive stronger demand for riskier assets like cryptocurrencies. A confirmation of this cut may positively impact XRP.
ETF Approval Deadlines in October
Another crucial regulatory event is the SEC's delay in decisions on several crypto ETF proposals, including those for XRP, moving deadlines to October. Approved XRP ETFs could significantly enhance liquidity and attract institutional investors, thus boosting demand.
With significant events ahead like the Fed meeting on September 17 and ETF approval deadlines in October, Bark's prediction of XRP reaching the $7-10 range appears increasingly plausible.
