Outside Source
TL;DR
- The launch of Ripple’s stablecoin launch, leadership changes at the SEC, and a potential lawsuit settlement could impact XRP’s future.
- Analysts forecast short-term targets of $2.78 to $8.76, with potential for further growth if the price reaches $10.
Wait for These Things to Happen
Despite the latest correction, which briefly suppressed the price of XRP to under $2.25, Ripple’s native token remains one of the best performers in the market this year. It currently trades at around $2.42, which represents a whopping 300% increase since January 1.
The pump was long anticipated by the XRP army, and some members might be contemplating whether to sell some of their holdings. However, one market observer, using the X moniker Maxi, said investors should wait a bit longer. The analyst outlined seven vital factors XRP investors should get checked before eventually cashing out.
The first element is the launch of Ripple’s stablecoin – RLUSD. As CryptoPotato reported, the financial product meant to be pegged 1:1 to the American dollar saw the light of day on December 17.
The second thing is Donald Trump’s inauguration, scheduled for January 20, 2025, while Gary Gensler’s departure from the US SEC is the third factor. The agency’s leader, who is known for his anti-crypto approach, will vacate his post next month, with Paul Atkins replacing him at the helm. The latter has a completely different stance toward the digital asset sector, advocating for implementing regulations that foster innovation in the space.
Next on the list is the eventual settlement of the lawsuit between Ripple and the US SEC. The entities have been confronting on the legal front for four years, with some seeing the agency as the underdog. After all, Ripple secured some vital (yet partial) court wins, while the upcoming shift in the leadership of the Commission could lead to a favorable resolution.
The other factors investors should wait for include the beginning of the altseason, a potential partnership between Ripple and a large banking institution, and the possible launch of an XRP ETF.
XRP Price Predictions
Some of the people making bullish forecasts as of late include the X users JAVON MARKS and Dark Defender. The former expects a potential price explosion, while the latter set $5.85 and $8.76 as short-term targets.
Most recently, Armando Pantoja also chipped in. He claimed that XRP could be headed toward $2.78 and then $3.87. The analyst went even further, forecasting a mass FOMO effect if the price reach $10-$12, and “that’s when it will get crazy.”
This article first appeared at CryptoPotato
