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Analysts Predict Significant Price Surge for Ripple's XRP

03/01/2024 19:18

BTC

2.99%

According to CryptoPotato, 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. Another analyst, Dark Defender, offers a conservative forecast, targeting a rise to $1 in the short term and possibly reaching $5.85 by Q2 2024. Despite not being among the best-performing crypto assets lately, Ripple's XRP remains the subject of bullish predictions. 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 lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The company secured three vital, yet partial, court victories against the SEC last year, meaning it's now better suited to rise substantially. 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 a 96X increase from the cycle bottom, skyrocketing to $27. According to xrpscan, the number of executed XRP transactions surpassed 6 million in the last three days, indicating greater adoption and increased interest in the asset, possibly attracting more investors and driving the value up. 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. 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.

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