A popular crypto analyst on YouTube known as “Mickle” issued a bullish prediction for XRP in a recent video, saying the broader cryptocurrency market is on the cusp of a new bull run that will likely propel the XRP price on the rise.
The analyst pointed to recent positive developments, such as cryptocurrency exchange Binance, which appears to be avoiding collapse, as a sign of market stabilization.
This eliminates the scenario of a massive black swan. (…) Now that we know that the world’s largest exchange is likely safe from any black swan scenarios, perhaps that means it’s time for us to make a comeback to the cryptocurrency market.
He believes we will see a resurgence of institutional interest in crypto. According to him, this interest will have a particularly positive effect on XRP.
Institutions want to beat retail. Institutions want to make maximum profit, but they don’t want to be in the market for the collapse of the largest exchange in the entire ecosystem. (…) This is going to make them more confident that there is a Bitcoin spot ETF right around the corner. There is new hype around cryptocurrencies and market conditions are starting to improve.
Mickle concluded by expressing optimism on altcoins like XRP soon reversing the downward price trend from the recent crypto winter. He notably stressed that the market is currently in an expansion phase.
If you zoom out on a cryptocurrency chart, it’s usually up and to the right. I think we are back in the expansion phase. And I hope this video has helped you understand my thoughts on why we are so close to this time.