XRP Could See a Price Increase Based on These Events
According to crypto analyst Zach Rector, there are three major events that could have a significant impact on the price of XRP. Firstly, if the U.S. court denies the SEC’s request to appeal the ruling that XRP is not a security, it could positively affect the price. Secondly, the adoption of Ripple’s On-Demand Liquidity (ODL) product by a major U.S. bank could also contribute to a price increase for XRP. Lastly, a legal settlement between Ripple and the SEC could serve as a catalyst for further growth. Financial expert Shannon Thorp also weighed in, challenging the belief that utility alone will drive XRP’s price. She emphasized the influence of global financial entities like the World Bank and IMF, as well as Ripple’s engagement with these organizations.
Looking Beyond Utility: Factors That Could Impact XRP’s Value
In a recent post, financial expert Shannon Thorp revisited her predictions about XRP’s future, focusing on qualitative factors that could influence its value. She disagreed with the idea that utility alone will drive XRP’s price and argued that a higher price would actually decrease the number of tokens needed for transactions, affecting Liquidity Strength. Thorp also questioned the correlation between XRP’s value and Bitcoin’s performance, instead directing attention to the involvement of global financial entities like the World Bank and IMF. She highlighted Ripple’s engagement with these organizations and cited a report showing that global finance decision-makers are adopting cryptocurrency solutions and believe in the impact of crypto and blockchain technologies on business and society.
Hot Take: XRP’s Price Outlook and Influencing Factors
While XRP has retraced its post-SEC lawsuit move, crypto analysts and experts suggest that several events could drive a significant price increase for the digital asset. These events include the denial of the SEC’s request to appeal the ruling that XRP is not a security, the adoption of Ripple’s ODL product by a major U.S. bank, and a legal settlement between Ripple and the SEC. Additionally, financial expert Shannon Thorp challenges the belief that utility alone will drive XRP’s price, emphasizing the impact of global financial entities like the World Bank and IMF. With Ripple’s engagement with these organizations and the increasing adoption of cryptocurrency solutions, XRP’s value could be influenced by broader factors beyond utility and Bitcoin’s performance.
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