XRP Sees $2 Price Target Ahead of Key Corporate Upgrades
A recent analysis by Turkish crypto analyst Celal Kucuker suggests that XRP could see significant price gains in the near future. According to Kucuker, a Fibonacci retracement level of 1.0 at $2.18 and 1.38 at $2.56 is expected to be reached before further acceleration.
This prediction is based on XRP's previous price action, which saw the cryptocurrency move from an estimated $0.99 to $1.55 before pulling back to $1.25 and recovering to its current level above $1.50.
The analyst notes that the 60% uptick in price could still occur urgently due to upcoming chain upgrades aimed at the corporate section of the XRP Ledger.
The first upgrade, XLS-56, minimizes the risk of funds becoming stuck in a commercial settlement if one party fails to meet their obligations. The second upgrade, XLS-75, ensures that the ecosystem meets banking security requirements.