Analyst CryptoBull recently shared new data on potential price zones for the cryptocurrency XRP, outlining promising price levels for the coming months.
New Analysis by CryptoBull
CryptoBull has presented a chart outlining long-term price zones for XRP on a monthly timeframe. He identified three main areas: the current 'undervalued' red zone, the dark green zone from $4 to $45, and the light green zone from $45 to $250. In his post, he stated, 'XRP is still within the undervalued red zone. Dark green price is $4-$45 and light green is $45-$250.' The chart illustrates how XRP has traded within a lower accumulation range while outlining potential future upside channels.
Impact of Monetary Policy on XRP
A key factor influencing movements in digital assets like XRP is the upcoming monetary policy decisions from the U.S. Federal Reserve. Current expectations place the probability of an interest rate cut on September 17 at around 90%. If this adjustment occurs, it could support risk-on assets by reducing borrowing costs and increasing liquidity across financial markets. Lower interest rates often encourage capital to flow into more speculative investments, including cryptocurrencies.
Perspectives from the XRP Community
CryptoBull's post has generated active discussions among market participants regarding monetary policy's impact. One user, KING XRP, remarked, 'Hoping that it breaks to the upside, once fed cuts rates.' This reflects sentiments among XRP holders who are closely watching how macroeconomic shifts might interact with the technical picture provided by CryptoBull. Previously, CryptoBull suggested that September may not deliver significant developments for XRP holders, but noted that October could bring more pronounced volatility.
In summary, the chart shared by CryptoBull and the current macroeconomic environment underline two main factors that could influence XRP's trajectory. Technical projections suggest long-term upside potential, while federal policy decisions could significantly alter trading dynamics.
