Ethereum Insider Says XRP Will Shine, Plans to Become XRP Investor

As the crypto community anticipates the bull market’s peak, early Ethereum advisor Steven Nerayoff has made favorable predictions for XRP.

Nerayoff speculated that XRP will shine in the bull market. According to the crypto advisor, the current bull market started after Ripple secured a legal victory against the United States Securities and Exchange Commission (SEC).

The Ethereum advisor explained that Ripple’s legal victory helped clear concerns about uncertainty, leading to the commencement of a bull market.

Recall that Ripple recorded a partial victory against the SEC last year, where a federal judge declared that XRP in itself does not constitute a security as alleged by the regulator.

Interestingly, Nerayoff noted that the current bull market is a catch-up time for XRP, as the coin missed out on the previous bull market due to the SEC v. Ripple legal tussle.

Yes, arguably Ripple’s legal victory started this bull run! It’s catch-up time for the last bull run.

— Steven Nerayoff (@StevenNerayoff) January 1, 2024

How the SEC Lawsuit Affected XRP Performance in the 2021 Bull Market

For context, the SEC charged Ripple with offering XRP as an unregistered security in December 2020. The regulator introduced the lawsuit shortly before most crypto assets, including Bitcoin and Ethereum, recorded new all-time highs (ATHs).

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While several crypto assets registered new ATHs in 2021, XRP traded at $1.96 on April 2021, 50% below its previous ATH of $3.4 set on January 4, 2018.

With a federal judge declaring XRP to be a non-security, Nerayoff believed that this bull run was XRP’s turn to shine. Although he did not give any price prediction for XRP, he speculated that the asset would make up for its low performance in the previous bull market. 

Nerayoff Plans to Invest in XRP 

In the meantime, Nerayoff has disclosed plans to invest an undisclosed amount in XRP. He made this known after a crypto enthusiast asked him whether he owned XRP.

Responding, Nerayoff said he has not invested in XRP but hopes to do so soon. However, he did not provide any hint about when he plans on investing in the sixth-largest cryptocurrency by market capitalization.

No. I’m not invested in Ether or XRP as I didn’t want anyone to say I was biased. I would be an investor in XRP & have publicly spoken about my belief in them since 2014. (I have a tiny amount of Ether bc I need to pay the ETH Cabal for their exorbitant gas fees).

— Steven Nerayoff (@StevenNerayoff) January 1, 2024

Can XRP Surpass Its Previous ATH?

Meanwhile, despite many analysts emphasizing that the bull market has already started, XRP was trading at $0.58, down 82.9% from its previous ATH of $3.4.

These analysts predict that the bull market will reach its peak after the upcoming Bitcoin Halving, which is expected to occur in April 2024.

Historically, the prices of various crypto assets, including BTC and XRP, usually skyrocket several months after every Bitcoin Halving. Whether the same pattern will repeat itself in the coming months remains to be seen.

XRP Community Predicts XRP Price in Bull Market

In the meantime, XRP community members participated in an X survey to predict the final price of the digital asset in this bull market.

Out of the 533 X accounts that participated in the survey, the majority of them, representing 38.1%, projected that XRP could surge to $12 and above in the bull market.

In addition, 23.5% of the participants forecast that XRP could surge and end the bull market at around $8 – $12. Notably, a number of participants, representing 18.4%, predict that XRP will trade below $2.

What’s Your $XRP Peak Price Prediction in 2024? 🤔💭 Vote Below!👇👇

— Good Morning Crypto (@3TGMCrypto) January 2, 2024