TL;DR
- XRP has remained resilient amidst a general market downturn, with analysts predicting substantial future gains.
- The ongoing Ripple v. SEC lawsuit could significantly influence the asset’s price, depending on the outcome.
XRP Future Outlooks
The latest correction in the cryptocurrency market, which resulted in multi-month low prices for Bitcoin (BTC), Ethereum (ETH), and many other digital assets, was not so devastating for Ripple’s XRP. Despite briefly plunging below $0.50, the token is up 3% on a two-week scale (per CoinGecko’s data).
Multiple analysts believe this could be a great starting point for substantial gains in the near future. One person who outlined such a prediction is the X user Mikybull Crypto. The trader argued that XRP’s “bottom has been confirmed,” adding that the asset is gearing up for an “explosive move.”
Another bullish analyst is Dark Defender, who forecasted that the asset’s price remains poised to reach $1.88 based on the weekly time frame.
EGRAG CRYPTO gave their two cents, too, observing some essential technical indicators. The analyst claimed that XRP has been “dancing around” the 21 exponential moving average (EMA) for quite some time, forming “several shy monthly candles.”
The trader thinks there will be a positive change once “the Kaboom or God Candle” occurs. “We need to stay steady because the big move is just around the corner,” they concluded.
Last month, EGRAG CRYPTO presented two potential paths for the XRP’s price trajectory in the following months. The first scenario depicts the token trading in the $1.20-$1.80 range by June-July, whereas the second option suggests an ascent to an all-time high of $4 by September this year.
Awaiting for News on the Ripple v SEC Front
One major event that could positively influence the price of XRP is a resolution of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The trial between the entities started at the end of last month, and so far, it has only offered additional confrontation instead of an outcome.
It remains unclear when the case will officially be closed due to potential delays and appeals from both sides and the complexity of the legal process. One person who envisioned a possible settlement in the near future is the American lawyer Jeremy Hogan. He believes a $100 million agreement may occur this summer.
Those interested in learning more about the lawsuit, its specifics, and its potential impact on XRP’s valuation, please check our video below:
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