XRP Investors Optimistic as Analyst Forecasts 70% Bounce

• An analyst predicts a 70% XRP bounce from his green line buy zone, exciting long-term investors.
• Zürcher Kantonalbank partners with Crypto Finance AG to launch cryptocurrency trading for retail clients.

In a tweet, CoinsKid, a well-known analyst and trader, has shared his thoughts of XRP price movement. He reflected on his earlier predictions, mentioning that back in March and April of this year, he had adopted a short-term bearish outlook for XRP and aimed for a retest of the green line.

Way back in March / April this year I did flip short term bearish for #xrp and was targeting the green line retest.

So far this is playing out, We have seen a beautiful 70% bounce in 5 waves from my green line buy zone for #xrp!

I wish you all the luck in the world CKC, but… pic.twitter.com/cFNSBDhxdp

— CoinsKid (@Coins_Kid) September 5, 2024

XRP 70% Bounce Sparks Renewed Optimism Among Investors 

So far, CoinsKid prediction looks to be going as intended. According to him, XRP has experienced a spectacular 70% bounce in five waves from the green line purchase zone.

This turnaround could be significant for XRP holders, particularly those who have endured years of irritating volatility. CoinsKid added a note of encouragement, wishing all XRP investors the best of luck at this critical period.

Furthermore, CoinsKid’s analysis has created interest in the XRP community, and his projections have caught the attention of other market analysts. CNF recently highlighted another analyst who believes XRP is on the cusp of repeating its rapid surge from the 2017-2018 bull market.

Back then, XRP had a staggering 57,000% spike, and some feel a similar surge is on the way. While these projections are based on technical analysis, they have sparked optimism among XRP supporters that the token will soon reach new heights.

At the time of writing, XRP is trading at around $0.5377, down 2.56% over the last 24 hours. This dip has reduced XRP’s market value to approximately $30.24 billion.

Despite the recent drop, many investors are still hopeful about the token’s long-term prospects, particularly in light of CoinsKid’s analysis and increased institutional interest in cryptocurrencies.

On the other hand, as we previously reported, Zürcher Kantonalbank (ZKB) has recently made significant progress in the deployment of digital assets. In collaboration with Crypto Finance AG, ZKB has established cryptocurrency brokerage services for retail consumers and third-party banks.

This new service enables clients to exchange Bitcoin, XRP, and Ethereum using mobile apps, e-banking, and other digital channels.

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