- Analysts predict a significant price shift for XRP in the next 300 days, with targets ranging from $1.88 to $2.50.
- The ongoing Ripple v. SEC lawsuit could further impact the asset’s valuation, with expectations leaning towards a favorable outcome for Ripple.
As Ripple’s XRP shows promising signs of growth, analysts predict a significant price shift. Meanwhile, the ongoing lawsuit between Ripple and the SEC could further impact the asset’s valuation.
Analysts Predict Significant Price Shift for XRP
Ripple’s XRP has been showing positive signs in the past few days, with its price soaring by 6% weekly and currently trading at around $0.53. This resurgence has caught the attention of many analysts, some of whom are predicting fresh peaks in the near future. Notable analysts like Mikybull Crypto and Captain Faibik have observed XRP’s price trajectory and opined that the bottom has been confirmed and is currently in preparation for an explosive move. Captain Faibik has even set a midterm target of $2.50.
Structural, Sentiment, Macro, and Psychological (SSMP) Model
Other analysts, such as Dark Defender and EGRAG CRYPTO, have also shown bullish sentiments, albeit in a more modest fashion. Dark Defender suggested that XRP has returned to a pattern that could eventually fuel a price rally to as high as $1.88. EGRAG CRYPTO, on the other hand, presented a Structural, Sentiment, Macro, and Psychological (SSMP) model that depicts the next 300 days. This model consists of four essential stages, with the first showing the potential of a substantial rally in the price range of $0.53-$0.58. The second phase is when XRP reaches $0.63-$0.70, whereas the third ($0.75-$0.85) signals the start of an actual bull run.
Ripple v. SEC: Awaiting a Resolution
Another major factor that could positively impact XRP’s price in the short term is the potential outcome of the lengthy lawsuit between Ripple and the US Securities and Exchange Commission. Ripple secured three partial wins last year, making the regulator seem like the underdog. XRP’s value spiked after each victory, with many expecting an even more significant surge in the event of a decisive triumph for Ripple. Despite the start of the trial last month, it remains unclear when the case will be officially closed. However, American attorney Jeremy Hogan believes the legal spat could be resolved after a $100 million settlement.
Conclusion
In conclusion, Ripple’s XRP shows promising signs of growth, with analysts predicting a significant price shift in the next 300 days. The ongoing lawsuit between Ripple and the SEC could further impact the asset’s valuation, but expectations are leaning towards a favorable outcome for Ripple. This could potentially lead to a significant surge in XRP’s value.
