- U.S. Producer E-Smitty predicts Ripple price could hit five digits.
- David Gokhshtein expects the crypto market to boom if XRP wins against SEC.
- XRP whales accumulate 300 million tokens.
Eric Finnerud, known by his stage name E-Smitty, a U.S. record producer, predicted that the price of XRP will soar to five digits in the near future. Over the past month, XRP has risen dramatically as investors have become increasingly bullish about Ripple’s likelihood of winning its case against the SEC.
E-Smitty is popularly known as an XRP enthusiast, who advocates that the currency will start gaining widespread adoption worldwide. The producer claims that he accepts payment in XRP for services like mixing, mastering, producing, and marketing. E-Smitty also uses XRP to pay royalties to the musicians he works with.
Interestingly, it’s not just E-Smitty who’s bullish on XRP. David Gokhshtein, the founder of Gokhshtein Media, recently tweeted that the whole crypto market might undergo a parabolic surge if Ripple wins its legal battle with the SEC.
XRP’s price was $0.4597 at press time, with a rise of 0.22% in 24 hours. In other words, the technical analysis reveals the XRP price was still trying to overcome the larger bearish blues.
Meanwhile, data from the On-chain analysis platform Santiment reveals Ripple whales have continued to accumulate despite the sluggish market trend. Over the past several months, Ripple whales have amassed over 300 million XRP.
The daily chart for XRP prices indicates that the Ripple price action formed a symmetrical triangle. Although this pattern is neutral, a rise in retail volumes and the relative strength index (RSI) may signal that the XRP price is about to climb upward and break out of an ascending parallel channel.
In spite of this, the number of daily active XRP addresses has not increased much. This trend in the cryptocurrency market indicates a lack of interest due to the uncertainty caused by the SEC lawsuit.
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