Home » Crypto Bits » Ripple Price Prediction: This Analyst Remains Bullish Despite the XRP Dip
Author: Dimitar Dzhondzhorov
Last Updated Apr 25, 2024 @ 13:05
“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 XRPpassed throughsevere turbulence in the past few months. Its price is up 6%on a weekly scalebut 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 popularcrypto analyst EGRAG CRYPTO presented two potential paths for the asset’s price trajectory in the following months.
The X userbelievesXRP could tradeatthe 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 claimedthat the asset’s price is “on the verge of a significant pattern, a moment that could shape its future,” maintaining that it should notbe classifiedas 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, whichhas been ongoing for over three years,recently entered its trial phase.
The regulator argues that Ripple violated securities rules when conductingcertainXRP sales years ago,seekinga $2 billion fine on the company. The firm does not agree with the allegations,claimingits penalty should not exceed $10 million.
Ripple hasso farsecuredthree 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 theentirecryptocurrency market. If you want to learn more about the lawsuit, feel free to check our video below:
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