The Real Price Impact For XRP: Expert Shares Timeline For Expected Surge, Here’s When
August 28 2024 - 3:00PM
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Due to regulatory hurdles, XRP failed to initiate a significant
rally alongside other notable cryptocurrency assets
like Bitcoin and Ethereum in the 2021 bull cycle.
There has been much speculation about when the altcoin will
surge again. However, a market expert has recently shared insights
into when the actual price impact for XRP will develop, indicating
a positive future for the crypto asset. Real Price Impact For XRP
On The Horizon SMQKE, an observer and researcher of Current Tech
Shift, has disclosed the period for the much-anticipated rally for
XRP to come to light, emphasizing the key developments that may
influence the value of the digital asset in the future. Related
Reading: Crypto Analyst Predicts 42,263% Breakout For XRP Price To
$280, Here’s The Roadmap The expert bases his prediction on the
recent developments around the Ripple-Russia Presentation,
which implies that major confirmation was provided that all of the
big banks that have teamed up with Ripple, including leading
banks that are crucial to the system, such as Standard Chartered,
Santander, and Bank of America, are currently running in test
mode. “If these major banks are still in the testing phase, it
means they have not yet fully integrated Ripple’s technology into
their daily operations,” he added. Because of this, SMQKE believes
that XRP has been unable to move significantly despite its
potential utility. XRP may be struggling to undergo a major price
upswing, but SMQKE asserts that this development is encouraging for
XRP’s future because systemically important banks are participating
in the ongoing testing. As a result, the researcher is confident
that after the tests are over and the big banks have transitioned
to full-scale adoption of Ripple’s technology, the real price
effect for XRP will take place. This is because once these
tests are successfully concluded, there will be a greater need for
XRP as a utility asset in financial transactions, potentially
resulting in a sharp increase in the altcoin price. Current State
Of The Market In A “Wait And See” Phase According to the expert,
the market could be in a “wait and see” phase. This is because
investors might be delaying pushing up XRP’s price until they see
definite evidence of widespread acceptance and regulatory certainty
around the asset. Related Reading: XRP Set To Explode? Top Analyst
Predicts $33 Rally The legal litigation between Ripple and the
United States Securities and Exchange Commission (SEC) has been a
major roadblock for the potential of XRP. SMQKE’s insights suggest
that investors await the lawsuit’s conclusion before pouring
massive capital into the crypto asset market. If the lawsuit ends
and Ripple’s technology integration tests with big banks go live,
there is a good chance that the value of XRP will witness a notable
price rally, possibly to new all-time highs. Featured image from
Adobe Stock, chart from Tradingview.com
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