Sonic crypto price surged for the second consecutive day as the network’s transactions reached the 120 million milestone. Sonic (S) token soared to a high of $0.3555 on Thursday, up 25% from its lowest point this week. It then pared…

Sonic crypto price on edge as network its a 120m milestone

XRP may be entering its most explosive phase in years, according to crypto 
analyst CryptoInsightUK, who on July 31 released a sweeping technical 
breakdown that suggests the token’s breakout from a six-year consolidation 
range could soon send prices to $15—and potentially beyond. “This is just the 
start,” he said, arguing that the recent monthly close confirms structural 
strength that has been building quietly over the last two market cycles. XRP 
Flashes Bullish Signal—Next Stop: $15? In a video analysis posted to YouTube, 
the analyst highlighted XRP’s rare technical alignment on the monthly chart, 
pointing to its sustained break above the 2018 all-time high and an upcoming 
potential for new highs. His base case targets a move to between $8.70 and $15 
in the short-to-medium term, based on historical measured moves and momentum 
structure. “If we just did a measured move like the last move, it could take 
us as far out as $15,” he said. “I don’t think that’s unreasonable.” Related 
Reading: Analyst Says XRP Price Is Now In Wave 4 — What To Expect Supporting 
the bullish case is a technical signal many market watchers have overlooked: a 
return of XRP’s monthly Relative Strength Index (RSI) to the overbought zone, 
historically a precursor to parabolic rallies. In the 2017 cycle, a similar 
RSI pattern preceded a move of over 700%, and even a “conservative” repeat 
could lift XRP to well above $10, he explained. “If we make a higher high on 
the monthly RSI here, to me that doesn’t indicate the move is over,” he said, 
emphasizing that momentum indicators remain firmly in bullish territory. He 
also drew attention to XRP’s relative strength versus Bitcoin, calling its 
position on the XRP/BTC chart “such a crucial place.” After bouncing from key 
support levels, XRP/BTC is closing the month significantly higher than nearly 
all months in recent years. “We’re going to be closing above everything apart 
from the last couple of months,” he observed. “It’s strong. It’s showing 
strength.” Looking at XRP dominance—a measure of XRP’s market cap share 
relative to the rest of crypto—CryptoInsightUK noted the token is holding the 
midpoint of a range formed on top of what he calls the &#8220;sign of strength&#8221; 
phase. “We’ve created this range on top of Wyckoff accumulation… Things are 
looking good there too,” he said. He further analyzed XRP futures premiums, 
noting that the negative premium since July 24 resembles the setup before 
XRP’s last major rally from $0.50 to $2.60. “We actually went red for a bit 
and that was when we found our lows,” he said. “Then as we broke out of this 
zone, we went back to being green… and that coincided with the start of the 
rally.” Related Reading: XRP Blows Cold: Price Crash To $2.15 Still Possible 
If Buyers Falter The chart structure, momentum indicators, and liquidity maps 
all point to a scenario where XRP could move sharply higher with relatively 
minor catalysts. The analyst emphasized that this does not necessarily mean a 
straight line up, but rather an aggressive trend formation after years of 
accumulation. “If you actually take a zoomed out perspective on the XRP chart, 
$15 doesn’t look ridiculous,” he said. “Yes, this is logarithmic, but it 
really doesn’t.” He also warned against dismissing high-end projections like 
$27 or even $50 out of hand, referencing past patterns in both price and RSI. 
“I’m not suggesting we do that in a month,” he said, “but I don’t think we 
should rule it out either.” At press time, XRP traded at $2.92. Featured image 
created with DALL.E, chart from TradingView.com

XRP Breakout Targets $15—Analyst Says ‘This Is Just The Start’

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The FCA&#8217;s decision could enhance retail investor participation in crypto 
markets, potentially increasing market liquidity and innovation.
The post UK FCA to allow retail investors to trade crypto ETNs appeared first 
on Crypto Briefing.

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