What Does It Mean for Crypto?
Elon Musk just talked about XRP in an online even, and this could be big news for the community. Musk owns X (formerly Twitter) and hasn’t mentioned Ripple’s coin before. Now, people are wondering what this means for XRP and other cryptos.
Let’s explore this topic and find out more useful information!
Also Read: Dogecoin Dominates Market, Rallies 30%: Can DOGE Hit $0.20?
Elon Musk’s First Mention of XRP: Implications for the Crypto Market
What Musk Said
A video of Musk talking about XRP is quite popular online. He didn’t say he likes Ripple’s coin, but he talked about how cryptos fight central control.
Musk said, “This is not an endorsement or lack of endorsement for XRP.” He also stated that cryptos like Ripple’s coin help people be free.
Do you agree with him? I know I do!
How XRP Fans Reacted
XRP fans are excited. They’ve wanted Musk to notice Ripple’s coin for a long time. They hope he’ll support Ripple’s coin like he supports Dogecoin. Musk didn’t say much on the topic, but fans of the Ripple’s coin are still happy. This shows that crypto fans care what famous people think. Could it be because of a direct correlation to price fluctuations? We think so.
Market Effects and What’s Next
People are looking at XRP again because of Musk’s words. Ripple’s coin costs $0.548277 now. The market feels neutral about it. Experts think Ripple coin’s price might go up soon.
CoinCodex says:
“According to our current XRP price prediction, the price of XRP is predicted to rise by 13.23% and reach $ 0.619695 by January 19, 2025. Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 72 (Greed). XRP recorded 15/30 (50%) green days with 5.88% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy Ripple’s coin.”
Also Read: Ripple: XRP May Replicate Its 2017-18 Bullish Run, Analyst Says
Some think Ripple’s coin will do well in the future. Telegaon says:
“The average price of Ripple’s coin can be around $1.76 in 2025 as per the current growth. XRP Coin’s performance may improve by 2025 which can help the token to create a new ATH level. As per our technical analysis, the XRP Coin can hit the maximum price level of $2.17 in 2025. However, if the market turns down the minimum price of an XRP Coin can be around $1.35 in 2025. According to some market analysts, 2025 can be a remarkable year for the cryptos, as well as top altcoins like Ripple’s coin.”
XRP fans like Musk’s idea of crypto freedom. They think the coin created by Ripple can help move money around the world easily, which could change people’s perceptions of Ripple’s coin and its price.
Also Read: Solana Outperforms Bitcoin & Ethereum: Will SOL Hit $200?
More people are interested in Ripple’s coin now that Musk has discussed it. It’s too early to know what will happen. But more people are watching Ripple’s coin closely.
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