TL;DR
- XRP experienced a brief price increase to $0.64, with several analysts predicting a more significant rally, including a potential new all-time high.
Future optimism for the asset includes potential positive impacts from Ripple’s upcoming trial against the US SEC.
Recently, the price of XRP by Ripple saw a significant jump, reaching a peak of $0.64. Although it has since dropped slightly to approximately $0.61, its value remains higher than the past week’s average, indicating a positive trend.
Several experts believe we’re only at the beginning of a significant price surge for XRP that could happen soon. Notably, D.I.Y Investing, a well-known YouTube creator, has proposed that XRP is on the verge of reaching a new record-breaking peak.
He confessed to having taken a lengthy bet on the asset, anticipating it would follow Bitcoin‘s price surge pattern from its previous bull market.
XRP is following a similar pattern to Bitcoin during its previous growth period, with prices forming a triangle consolidation.
Does anyone recall the significant price surge of Bitcoin ($BTC) following its breakout? Given the recent victory of Ripple ($XRP) against the SEC, it’s reasonable to assume a similar response from the market.
I am long 250k XRP targeting new ATH’s
— Donovan Jolley (D.I.Y Investing) (@vajolleratzii) April 10, 2024
Some analysts, such as Mikybull Crypto and Dark Defender, have recently shared positive projections. Mikybull Crypto believes XRP could reach an all-time high of $4 by early 2025, while Dark Defender anticipates a significant price increase, referring to it as a “melting faces” surge.
A significant development that could boost the token’s price is if Ripple emerges victorious in its legal battle with the US Securities and Exchange Commission (SEC).
The trial is scheduled for April 23, and some may argue that the company will enter with the upper hand after securing three vital (yet partial) court victories throughout 2023.
For those with an interest in discovering more reasons why XRO may experience a significant price surge this year, please check out the video we’ve prepared specifically for that purpose:
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2024-04-11 14:44