XRP has long been considered one of the strongest cryptocurrencies in the market, currently occupying the 5th spot in terms of market cap. However, during the last major crypto bull run in 2021, XRP’s price struggled to keep up with Bitcoin and other altcoins. This was primarily due to an ongoing lawsuit from the SEC against Ripple Labs, the creator of XRP. There were fears that the lawsuit could severely impact the future of the project, and as a result, XRP’s price was suppressed.
While Bitcoin skyrocketed by 23 times and Ethereum went up a whopping 58 times during this time period, XRP failed to make significant gains. The lawsuit raised concerns about the legality of XRP as a security, hindering its growth potential. However, a federal judge in the United States has since determined that the programmatic sales of XRP do not constitute the selling of securities. With a settlement in sight, it seems that XRP is poised to make up for lost time and experience a surge in price.
Crypto analyst ERGAG CRYPTO predicts that XRP could rally 40 times from its current level to reach $27 in the subsequent bull run. This prediction aligns with the Fibonacci 1.618 indicator, which measures the ratio of a number to its preceding number. This indicator has been historically significant in predicting market movements for various assets, including cryptocurrencies.
Although a timeline for the next bull run is not known, ERGAG suggests that it could happen around mid-2024. This timeframe aligns with the analyst’s previous predictions for XRP, which have been quite optimistic. While a $27 price point may seem overachieving, XRP has shown potential in surpassing its previous all-time high of $3.84. The analyst initially predicted that it might take until July 2028 for XRP to reach a new all-time high, but recent developments in the lawsuit have accelerated the timeline.
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In terms of recent market performance, the entire crypto market has witnessed gains since the middle of October. Bitcoin, for instance, reached a new yearly high of $35,150. XRP has also seen an increase in price, trading at $0.547 at the time of writing, up by 5.73% in the past seven days. While its price may still be relatively low compared to other altcoins, XRP’s strong market cap demonstrates its potential for growth.
It’s important to note that cryptocurrency price predictions should be taken with caution as they are speculative in nature. The crypto market is highly volatile, and various factors can impact price movements. However, the bullish prediction for XRP’s future growth is based on the resolution of the SEC lawsuit, which has been a major obstacle for the altcoin. With the lawsuit coming to an end, XRP could regain its momentum and experience a significant rally.
It will be interesting to see how the next bull run unfolds and whether XRP can live up to these high expectations. Investors and enthusiasts will be keeping a close eye on the market and any developments related to XRP’s legal situation. Overall, the bullish prediction for XRP’s price surge to $27 showcases the potential for the altcoin to rebound and surpass its previous all-time high.
