XRP price prediction: Analysts say the $8 level is just the beginning as SEC risks have passed.

XRP has increased by 0.5% in the last 24 hours as the latest downtrend of the cryptocurrency has paused following yesterday's interest rate decision by the Federal Reserve. As expected, the central bank did not change the federal funds rate. However, Chairman Jerome Powell affirmed that they still expect to implement two rate cuts this year. As a result, he may have helped calm the market a bit at a time of rising tensions in the Middle East that made investors anxious. In the past week, XRP has accumulated a loss of 3.2%. However, the crypto analyst "Crypto Beast", who has 727,000 followers on X, seems to believe that this token has significant upside potential as regulatory hurdles have disappeared. Crypto Beast has identified a bullish flag price pattern that could yield significant profits for the underlying asset of the Ripple network in the near future. His basic XRP price forecast shows that the price will rise to $10 after confirming a bullish breakout. "You will regret not following," he said. XRP Price Prediction: The Ongoing Consolidation Confirms the Viewpoint of Crypto Beasts XRP has been consolidating for a while after this token made a significant jump following Ripple's legal victory against the United States Securities and Exchange Commission (SEC) and the appointment of a new leader, Paul Atkins, for this regulatory agency.

Looking at the 4-hour chart of XRP, this consolidation has been taking place since Monday and shows that the price has traded in the range from 2.33 to 2.10 dollars. Consolidation patterns tend to predict an upcoming major breakout. They are non-directional, so it is impossible to know whether they support a prediction of XRP price fall or rise. Traders should monitor how this pattern develops. To further confirm Crypto Beast's bullish prediction for XRP, the price must surpass the $2.35 mark with high trading volume. This will lead to a retest of several overhead resistance levels, the first and most important being the $2.65 level. Although XRP has not delivered the exceptional growth that investors have expected throughout this year, Bitcoin (BTC) has reached a new all-time high as this leading cryptocurrency is considered a safe haven.