Here Is Why Next Bull Cycle Could be ‘Special’ for Ripple (XRP)
TL;DR
- Market Revival and Bull Run Potential: The cryptocurrency market, especially in late 2023, shows signs of revival with an anticipated bull run, influenced by events like the possible upcoming Bitcoin ETF approval in the US and BTC halving in 2024.
- XRP’s Promising Outlook: Ripple’s XRP is highlighted as a potential top performer in the next bull cycle, bolstered by Ripple’s legal successes, partnerships with central banks, and re-listing on major exchanges.
- XRP Price Speculation: Extreme price predictions for XRP include reaching $4.20, $7.20, or an unlikely $470, a scenario requiring an unprecedented market capitalization far exceeding the industry’s previous peak.
Is XRP Primed for a Spectacular Rise?
The revival of the cryptocurrency market this year (especially during the second part of 2023) is a fact, while the next bull run seems to be knocking on the door. Several potential developments, including the possible approval of a spot Bitcoin ETF in the United States and the upcoming BTC halving (scheduled for the spring of 2024), might propel an overall rally of the market in the near future.
With that said, numerous investors may wonder which digital assets would be the top performers during the next bull cycle. According to the financial expert using the X (Twitter) handle Kyren, one token that might flourish in the future is Ripple’s native coin – XRP.
According to them, the blockchain enterprise has passed through multiple developments in the past few years that could make the potential bull run “special” for the asset. Such examples are:
- Ripple’s winning streak in its lawsuit against the US Securities and Exchange Commission (SEC).
- The company’s interactions with central banks across the world.
- The support coming from leading cryptocurrency exchanges.
Recall that Coinbase, Kraken, Gemini, and other giants relisted XRP on their platforms after Ripple’s successive campaign against the regulator.
“In the bull market before 2016-2017, XRP saw gains like you wouldn’t imagine, having pumped from under $0.01 to well over $3.50. With all that’s been happening with XRP & Ripple lately… Are we primed for another run by the OG of enterprise blockchain utility,” Kyren concluded.
Could XRP Explode to the Ridiculous $470?
Speaking of a possible XRP rally, it is worth observing one somewhat preposterous price prediction coming from the X user CryptoBull. They suggested that the asset is on the verge of skyrocketing to $4.20, $7.20, or even $470.
One should keep in mind that spiking to almost $500 seems highly unplausible since XRP’s market capitalization should blast to approximately $250 trillion for this to happen. Recall that the entire market cap of the industry was around $3 trillion during the bull run in 2021 when Bitcoin (BTC) tapped an all-time high of almost $70K.
Those curious to find out how XRP might perform in the short term could take a look at our dedicated video below:
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