Market strategist Levi predicts that XRP could reach $20. His analysis draws from historical data and current market conditions.
Overview of XRP
Levi highlights the supply shock XRP faced in 2017, when the asset rose from around $0.20 to over $3.38. He relates this rise to retail investor participation and early institutional interest.
Factors Influencing XRP Price
Levi claims that the recent 5.66% drop in XRP reserves on exchanges may apply upward pressure on the price. He points to the potential for institutional investments through exchange-traded funds as a significant market influencer.
Short-Term and Midterm Projections
While some analysts expect XRP to hit $6 in the short term, Levi focuses on the midterm outlook, where a combination of dwindling exchange reserves and macroeconomic changes could lead to substantial price increases.
Levi's analysis suggests that current market conditions could support a scenario where XRP rises significantly, potentially reaching $20.
