Analyst Says XRP Price Will Reach $100, But This Needs To Happen First
April 23 2024 - 4:00PM
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Crypto analyst JackTheRippler has raised the possibility of the XRP
price rising to $100 soon enough. As part of his prediction, he
mentioned what needs to happen for the crypto token to attain such
ambitious heights. How XRP Price Could Rise To $100
JackTheRippler suggested in an X(formerly Twitter) post that the
XRP price hitting $100 was “inevitable” once the case between the
Securities and Exchange Commission (SEC) and Ripple came to an end.
Furthermore, he predicted that XRP could rise to as high as
$10,000, claiming that the crypto token hitting five figures was
achievable after the lawsuit. Related Reading: Brazil Wants BTC:
7,400 Bitcoin Futures Contracts Created On First Day Of Trading The
analyst’s remarks again highlight the belief among members of the
XRP community that the SEC’s lawsuit against Ripple has greatly
hindered XRP’s growth. Specifically, the lawsuit is believed to be
why XRP underperformed in the 2021 bull run, having made remarkable
strides in the 2017 bull run (long before the lawsuit was
instituted). Meanwhile, in his remarks, JackTheRippler
alluded to XRP gaining regulatory clarity once the case between the
SEC and Ripple was over. This statement caught the attention of
some of his followers, who pointed out that it had gotten clarity
following Judge Analisa Torres’ ruling that XRP isn’t a
security. Interestingly, XRP has failed to mount any
significant run despite gaining this clarity last year. This is one
reason why some XRP holders seem to have lost faith in the crypto
token, as expectations were high following Judge Torres’ ruling.
However, nothing much happened as the crypto token briefly rose on
the back of the ruling but steadily declined in the following
weeks. Therefore, these holders will likely be cautious about
getting their hopes high despite JackTheRippler’s optimism since
XRP could still maintain its unimpressive price action even after
the SEC’s lawsuit is over. The SEC’s Lawsuit May Not Be
Ending Anytime Soon Meanwhile, it is worth noting that the case
between the SEC and Ripple could even drag on beyond this year,
irrespective of the outcome of the penalties stage, as both parties
are likely to appeal certain rulings. This means that XRP holders
might have to wait a while to see if the crypto token hits $100
based on JackTheRippler’s prediction. Related Reading: Shiba
Inu Whales Move Over 3.19 Trillion SHIB, Where Are They Headed? If
the case is prolonged beyond this year, XRP could miss out on
achieving its true potential in this bull run if the lawsuit is
indeed acting as a stumbling block to its progress. The lawsuit
has, however, not stopped crypto analysts like Egrag Crypto from
making bullish predictions for XRP in this bull run. He predicts
the crypto token could rise to as high as $27 at this market
peak. At the time of writing, XRP is trading at around $0.54,
up over 2% in the last 24 hours, according to data from
CoinMarketCap. XRP price shows bullish momentum | Source:
XRPUSDT on Tradingview.com Featured image from Bitcoinist, chart
from Tradingview.com
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