Analyst Predicts XRP Price Surge Following SEC Lawsuit
A popular cryptocurrency analyst, known as “KALEO” on Twitter, is optimistic about the future price of Ripple’s native token, XRP. The analyst believes that the outcome of the lawsuit between Ripple and the SEC will lead to a significant increase in XRP’s value.
XRP Finds Solid Support After Court Ruling
KALEO points out that XRP’s valuation has recently stabilized after dropping to pre-July levels. In July, the token saw a 70% surge in price when a US judge ruled that Ripple’s sale of XRP was not an offer of investment contracts. However, the SEC was unhappy with this decision and appealed it in September. Despite this, KALEO believes that the appeal will fail and result in a price increase for XRP.
I’m long $XRP.
The USD chart has found solid support after completely retracing to the pre July SEC news levels, while the BTC pair is on the verge of a HTF breakout.
Considering the SEC’s track record this year in cases against crypto, I’m buying the blood and taking the bet… pic.twitter.com/l5Yr5JDTGd
— K A L E O (@CryptoKaleo) September 19, 2023
XRP’s Potential Future Growth
XRP has been performing well in recent weeks, with a nearly 7% increase in value. Some experts have even predicted a brighter future for the token. Shannon Thorp believes XRP could reach $500 by 2027, citing the potential growth of cross-border payments to $250 trillion in the next four years. However, this prediction would require XRP’s market capitalization to reach $260 trillion, which seems unrealistic.
Another user, EGRAG CRYPTO, has a more modest forecast for XRP’s value, predicting it could rise to $2.8 to $7. CryptoPotato has also released a video discussing XRP’s performance in the next bull market.
Hot Take: XRP’s Price Outlook
While the outcome of Ripple’s lawsuit against the SEC is uncertain, analysts and experts have differing opinions on XRP’s potential price surge. KALEO remains optimistic and expects an increase in XRP’s value due to the court ruling and the SEC’s track record in crypto cases. However, other predictions, such as reaching $500 or even higher valuations, seem overly optimistic considering the required market capitalization. It remains to be seen how XRP will perform in the coming months and whether it can maintain its recent stability.
By
By
By
By