Top Ripple (XRP) Price Forecasts, Zcash’s (ZEC) Rally, and More: Bits Recap Oct 24

Here’s everything most interesting surrounding XRP, ZEC, and ETH.

Ripple’s XRP has entered green territory again, and in the following lines, we will outline some of the most interesting predictions about the asset. We will also touch on Zcash (ZEC), which has been among the top-performing cryptocurrencies lately, and check what’s happening with Ethereum (ETH).

XRP’s Next Targets

The token’s valuation currently trades at around $2.45 (per CoinGecko’s data), representing a 7% increase on a weekly scale. Analysts like the X users EtherNasyonal and Javon Marks believe the asset’s recent performance resembles that of 2017, which was later followed by a massive bull run.

The former claimed that XRP is trading inside an upward channel that can take it to uncharted territory in the near future, whereas the latter envisioned a push to almost $10. Ali Martinez is also optimistic, arguing that the TD Sequential has flashed the buy signal on XRP, which could be a precursor of a more substantial rebound.

On the other hand, the recent whale exodus suggests Ripple’s cross-border token may experience another significant collapse in the short term. Data provided by X user STEPH IS CRYPTO shows that large investors have sold more than one billion tokens since October 16.

The offloaded stash equals over $2.5 billion and could spark panic across the XRP Army, prompting smaller players to cash out, too. Additionally, the development increases the amount of coins available on the market, which, combined with non-increasing demand, should lead to a price drop.

ZEC’s Impressive Pump

The native token of Zcash is one of the best-performing cryptocurrencies over the last week, with its valuation soaring by 33%. ZEC exploded to a multi-year high above $300 a few days ago but later retraced to the current $260.

Despite losing some ground, multiple analysts and traders think the asset’s rally is far from being over. X user KNIGHT predicted that the price may consolidate at around $200 in the short term and then soar past $500.

You may also like:

Javon Marks made a similar forecast lately, envisioning a surge to almost $600.

ETH Still ‘Cheap?’

The second-largest cryptocurrency surpassed $4,000 on October 21 but hasn’t reclaimed that level since. Currently, it trades just south of that mark, indicating a 20% decline from the all-time high witnessed this August.

However, many industry participants believe it is too early to wave the white flag, forecasting that ETH could soon reach a new peak. X user Merlijn The Trader opined the asset remains in “still cheap” territory and it is time “to front-run the next leg.” For his part, Gordon thinks this might be the last chance for investors to buy at prices below $4K.

The low amount of ETH tokens stored on crypto exchanges supports the bullish thesis. As of this writing, less than 16 million coins are on such platforms, close to the nine-year low registered earlier this month. The development signals that many investors have shifted their holdings to self-custody methods, thereby reducing immediate selling pressure.