Will Ripple (XRP) Price Follow Bitcoin and Reach a New All-Time High? Analyst Chips In
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.
Ripple’s XRP recently witnessed a substantial price resurgence, reaching $0.64. Despite the subsequent drop to its current level of around $0.61, the valuation is still well in the green on a weekly scale.
Multiple analysts think this is just the starting point for a huge rally that might be observed in the near future. The popular YouTube content creator, using the handle D.I.Y Investing, recently suggested that XRP is ready to explode to a new all-time high.
He admitted opening a long position, expecting the asset to mimic Bitcoin’s performance from the last bull cycle:
#XRP is setting up in the exact same ways #Bitcoin did in the last cycle forming this triangle consolidation.
Anybody remember how explosive $BTC was after breaking out? I would imagine now that $XRP has beat the SEC this will follow, too.
I am long 250k XRP targeting new ATH’s pic.twitter.com/W8ssnVB2HK
— Donovan Jolley (D.I.Y Investing) (@vajolleratzii) April 10, 2024
Other analysts who outlined optimistic forecasts as of late include Mikybull Crypto and Dark Defender. The former predicted that XRP could spike to an ATH of $4 by the beginning of 2025, whereas the latter envisioned a “melting faces” surge.
One essential element that could positively impact the price of the token is a decisive Ripple win in the lawsuit against the United States 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.
Those curious to explore additional factors indicating that XRO is on the verge of an explosive price rally this year, feel free to take a look at our dedicated video below:
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