Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Ripple Price Prediction: This Analyst Remains Bullish Despite the XRP Dip

Ripple Price Prediction: This Analyst Remains Bullish Despite the XRP Dip

CryptopotatoCryptopotato2024/04/25 14:19
By:Dimitar DzhondzhorovMore posts by this author

“Aiming for $4 is feasible if we follow a similar path to 2021,” EGRAG CRYPTO argued.

TL;DR

  • Despite a recent downturn, analysts predict a potential rise in XRP’s price, forecasting it could reach between $1.20 and $1.80 by mid-year and possibly surge to $4 by September.
  • The ongoing Ripple v. SEC trial, which challenges the classification of XRP as a security, could significantly impact the asset’s value, with positive developments potentially triggering a market rally.

XRP’s Next Possible Moves

Ripple’s XRP passed through severe turbulence in the past few months. Its price is up 6% on a weekly scale but remains down 20% over a 30-day period, currently hovering at around $0.52 (per CoinGecko’s data).

Despite the bearish outlook, the community remains predominantly optimistic that a rebound is in the cards. The popular crypto analyst EGRAG CRYPTO presented two potential paths for the asset’s price trajectory in the following months.

The X user  believes  XRP could trade at the range of $1.20-$1.80 by June-July. The second option is more bullish, depicting a value ascent to an all-time high of $4 by September this year:

“Aiming for $4 is feasible if we follow a similar path to 2021. Additionally, the Blue Trend line aligns with a yellowish fractal, supporting the likelihood of this scenario.”

Other analysts envisioning peaks for XRP are Dark Defender and Mikybull Crypto. The former claimed  that the asset’s price is “on the verge of a significant pattern, a moment that could shape its future,” maintaining that it should not be classified as a security. Mikybull Crypto argued that XRP has reached a level that “initiates an explosive rally.”

The Impact of the Ripple v. SEC Trial

An important factor that may fuel an XRP bull run is the outcome of the lawsuit between Ripple and the US SEC. The legal battle, which has been ongoing for over three yearsrecently entered its trial phase.

The regulator argues that Ripple violated securities rules when conducting certain XRP sales years ago,  seeking  a $2 billion fine on the company. The firm does not agree with the allegations,  claiming  its penalty should not exceed $10 million.

Ripple has so far  secured  three vital (yet partial) court wins, with some expecting a decisive victory on the trial. Such a scenario could trigger a rally for XRP and positively impact the entire cryptocurrency market. If you want to learn more about the lawsuit, feel free to check our video below:

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!