Here’s What Can Cause a Ripple (XRP) Price Rally This Year (Not Just the SEC Lawsuit)
TL;DR
- Financial expert Linda P. Jones discusses Ripple’s XRP, advising patience for investors based on upcoming events.
- Factors influencing XRP’s value include Ripple’s company developments, sector regulation, and market dynamics.
- Various analysts provide diverse, bullish and bearish predictions for XRP’s future price.
Ripple (XRP) to be Fueled by These Factors
Linda P. Jones – an author, wealth mentor, and speaker – recently touched upon Ripple’s XRP and its chances to rally in the near future. She noted its not-so-impressive performance as of late but urged investors to be patient and await certain events that might have a significant impact on the asset.
Jones argued that the most important factor is the outcome of the Ripple v. SEC case. As CryptoPotato previously reported, the trial between the two entities is scheduled for April 23, 2024. Ripple seemingly has the upper hand after securing three major (yet partial) court wins last year.
The financial expert added that a potential Ripple IPO could also affect XRP’s price. However, she warned that it could not go live before a final settlement between the company and America’s securities regulator.
Implementing comprehensive rules in the crypto sector was outlined as the third essential element. In her view, regulation may be enforced in 2025, but XRP’s price could react beforehand. Jones made an interesting prediction, claiming that 2024 would be the last year when memecoins would be able to explode since legislation could negatively affect them:
“This is going to be the last year for memecoins to explode. XRP is not a memecoin, but there is a lot of speculation with memecoins right now. And some people have said this is the last year for that kind of speculation on those memecoins that don’t really have utility because next year we are going to get legislation which will favor coins with utility.”
Rising institutional adoption and the upcoming Bitcoin halving are supposedly the last two factors that could boost XRP’s value in the following months. The latter is an event that slashes the miners’ reward in half and is expected to occur in April. Those willing to learn more about the halving could check our video below:
Subsequent supply reduction could result in price appreciation for Bitcoin if the demand stays the same or increases. Historically, many of the altcoins have followed BTC’s uptrend numerous times, meaning XRP could also be among the ascending ones.
Price Tags for XRP
The X (Twitter) users Dark Defender and EGRAG CRYPTO also touched upon XRP, setting extremely bullish price targets. The former maintained that the global cryptocurrency market capitalization could skyrocket above $23 trillion in a year, with Ripple’s coin soaring to $13.72.
Despite the bullish sentiment in the sector as of the moment, reaching that level by 2025 seems a bit unrealistic. Currently, the global market cap is around $1.8 trillion, whereas its all-time high stood at “just” $3 trillion during the bull run in 2021.
EGRAG CRYPTO was even more optimistic, arguing that XRP has a chance to mirror its explosive performance from 2017 and jump to the ridiculous $220.
On the other hand, Bitgolder – an analyst on TradingView – presented a bearish scenario in which the asset’s price could plummet to $0.07 in the following months.
“XRP is losing strength, it failed to make a new high in the least bull run and is now slowly bleeding out. Its going to take a while to bleed out because of how many bag holders there are and how much silly youtubers keep pumping this thing. Its unfortunate that many are going to lose their shirts on this thing,” the analyst stated.
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