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

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

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

The next targets of XRP

The token’s valuation is currently trading around $2.45 (according to CoinGecko data), which represents an increase of 7% on a weekly scale. Analysts such as

The former claimed that XRP is trading in an upward channel that could take it into uncharted territory in the near future, while the latter envisioned a rise to near $10. Ali Martinez is also optimistic, argue that the TD Sequential has flashed the buy signal on XRP, which could be a harbinger of a more substantial recovery.

On the other hand, the recent whale exodus suggests that Ripple’s cross-border token could see another significant collapse in the near term. Data from X user STEPH IS CRYPTO shows that major investors have sold more than a billion tokens since October 16.

The released supply amounts to over $2.5 billion and could cause panic in the XRP army, allowing smaller players to cash out as well. Furthermore, the development increases the number of coins available on the market, which, combined with non-increasing demand, should lead to a drop in prices.

ZEC’s impressive pump

Zcash’s native token is one of the best-performing cryptocurrencies of the past week, with its valuation up 33%. ZEC exploded to a multi-year high above $300 a few days ago, but later returned to the current $260.

Despite losing some ground, several analysts and traders believe the asset rally is far from over. X-user KNIGHT predicted that the price may consolidate around $200 in the short term and then rise above $500.

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Javon Marks recently made a similar prediction, predicting a rise to almost $600.

ETH still ‘cheap?’

The second-largest cryptocurrency surpassed $4,000 on October 21, but has not regained that level since. Currently, the price is trading just south of that level, indicating a 20% decline from its all-time high in August.

However, many industry participants believe that it is too early to wave the white flag as they predict that ETH could soon reach a new peak. X user Merlijn The Trader opined that the asset is still in “cheap” territory and that it is time “to take the next step.” For his part, Gordon thinks this could be the last chance for investors to buy at prices below $4,000.

The low number of ETH tokens stored on crypto exchanges supports the bullish thesis. At the time of writing, there are fewer than 16 million coins on such platforms, close to the nine-year low recorded earlier this month. The development indicates that many investors have shifted their holdings to self-custody methods, easing the immediate selling pressure.