- Analyst EGRAG CRYPTO predicts a significant price surge for Ripple’s XRP based on past performance and legal developments.
- Increased XRP transaction volumes indicate growing interest, suggesting potential for price appreciation.
- Analyst Dark Defender offers a conservative forecast, targeting a rise to $1 in the short term and possibly reaching $5.85 by Q2 2024.
XRP Gearing up for a Massive Rally
Despite not being among the best-performing crypto assets lately, Ripple’s XRP remains the subject of bullish predictions. The X (Twitter) user EGRAG CRYPTO expects its price to skyrocket during the next potential bull run of the market for several reasons.
The analyst outlined the asset’s 20X rally in 2021 when the cryptocurrency sector was booming, noting that the progress occurred despite the “pesky” lawsuit between Ripple and the US Securities and Exchange Commission (SEC).
The company secured three vital (yet partial) court victories against its enemy last year, meaning it’s now better suited to rise substantially:
“This time, with its unparalleled legal, regulatory clarity, the potential for a 40X or even 50X boom seems promising.”
EGRAG CRYPTO thinks that XRP’s future gains could match those of Ethereum (ETH) or Bitcoin (BTC) during the last bull run, potentially hitting a price tag of $16 or $5.88 (respectively). The analyst went even further, forecasting that the asset could mark the “incredible” 96X from the cycle bottom, skyrocketing to $27.
One on-chain metric signals that a price appreciation might be on the horizon. According to xrpscan, the number of executed XRP transactions surpassed 6 million in the last three days.
This could indicate a greater adoption and increased interest in the asset, possibly attracting more investors and driving the value up.
How About a More Realistic Scenario?
The X user Dark Defender also believes XRP’s price is poised for an upswing, albeit not as explosive. The analyst set the $1 mark as a short-term target, claiming the asset would not “defer the break.”
“We will catch the wave & enjoy the prosperity of 2024,” they stated.
Previously, Dark Defender predicted that XRP could ascend to $1.88 and then to an all-time high of $5.85, with the second target expected to be reached in Q2 2024.