XRP Price Set to Soar 35,000%: Key Events That Could Ignite Surge!
XRP Price Prediction: Analyst Forecasts 35,000% Surge with Key Developments
Factors Driving Potential XRP Price Surge
A prominent crypto analyst known as Ripple Pundit has made a striking prediction regarding the future of XRP, suggesting that the cryptocurrency could experience a staggering increase of 35,000%. This forecast hinges on two critical developments that must occur for this ambitious price target to be realized.
In a recent post on social media platform X, Ripple Pundit indicated that the XRP price could skyrocket on the day Ripple publicly announces its banking license. Additionally, the analyst believes that if the SEC decides to withdraw its appeal in the ongoing legal battle with Ripple, it would further propel the altcoin‘s value. Ripple has submitted an application for a national banking license to the Office of the Comptroller of the Currency (OCC), a move anticipated to broaden the company’s service offerings and positively impact XRP’s market performance.
This banking license is expected to enhance Ripple’s payment solutions, potentially increasing XRP’s adoption, particularly among institutional investors. As Ripple secures more clients through this license, the demand for XRP could rise significantly.
Ripple’s Banking License: A Game Changer for XRP
Another crypto expert, Vincent Van Code, concurs with Ripple Pundit’s assessment, asserting that the approval of Ripple’s banking license could dramatically influence XRP’s market price. He has projected that the altcoin could soar to values between $30 and $50. Furthermore, Ripple CEO Brad Garlinghouse has expressed unwavering support for XRP, emphasizing its integral role in the company’s future strategies.
In the meantime, the anticipated SEC announcement regarding the withdrawal of its appeal in the lawsuit against Ripple could also serve as a catalyst for XRP’s price increase. Ripple has already opted to withdraw its cross-appeal, leaving the resolution of the legal dispute contingent on the SEC’s decision. A favorable outcome would eliminate the legal uncertainties that have long surrounded XRP.
Technical Analysis: The Next Phase for XRP
Crypto analyst CasiTrades has highlighted that the next significant movement for XRP is likely to commence from the $2.23 mark. She noted that the altcoin has demonstrated resilience during its current consolidation phase. The application for a banking charter by Ripple has provided substantial momentum at a crucial time, helping to push XRP past the $2.25 resistance level.
CasiTrades also commented on the recent price movements, indicating that XRP is currently facing resistance at $2.268, which corresponds to the .382 retracement level of the recent wave. This suggests that XRP may need to dip lower before embarking on a new upward trajectory. Based on her technical analysis, she identified $2.235 as an optimal entry point, as it aligns with the .236 retracement level and coincides with several internal subwave targets.
As of the latest updates, XRP is trading around $2.22, reflecting a decline over the past 24 hours, according to data from CoinMarketCap.
