The XRP token, native to the XRP Ledger, could experience a significant surge in price, with a potential bullish target of $30 in the near term. This optimistic forecast was recently unveiled by Thomas Kralow, the founder and manager of Kralow Capital, highlighting the market expert’s bullish stance.
Kralow’s predictions come amidst an ongoing legal dispute between Ripple, a major player in the XRP space, and the U.S. Securities and Exchange Commission (SEC). The regulator has accused Ripple of selling XRP as an unregistered security, creating a challenging backdrop for the cryptocurrency.
According to Kralow, Ripple’s progress in the legal battle could intensify speculation and drive the price of XRP even higher in the next three to four months. This sentiment is supported by the growing interest among cryptocurrency enthusiasts, evident in the surge of XRP-related searches on Google Trends.
Within the speculated timeframe, Kralow envisions the potential for XRP’s price to surge anywhere between $10 and $30, largely fueled by the prevailing speculative narratives surrounding Ripple. Interestingly, other analysts share a similar outlook, with one prominent crypto market commentator recently expressing an ambitious prediction of $10 per XRP token. This projection is based on key events that could act as catalysts for price increases.
According to this commentator, a resolution of the legal battle could lead to a $3.5 surge in XRP’s value. Furthermore, a relisting of the token on cryptocurrency exchanges that had previously delisted it may push the price to $5. Speculation also surrounds the possibility of a Ripple initial public offering (IPO), which could potentially boost the price to $7. Strategic partnerships with banking institutions, if realized, might elevate the price even further to $10.
Additionally, Kralow suggests that XRP’s rally could gain momentum from a prospective Ripple IPO and a favorable outcome in the SEC dispute. Recent reports indicate that large XRP holders, commonly referred to as whales, have accumulated an astounding 1.1 billion XRP (approximately $570 million) since February, adding further intrigue to the token’s potential.
As the legal battle continues and market dynamics evolve, investors and enthusiasts eagerly await the outcome. If Kralow’s predictions materialize, XRP could experience a remarkable upswing, setting the stage for an exciting period in the XRP market.
Source: https://bitcoinworld.co.in/xrp-token-eyes-30-bullish-target-as-ripple-battles-sec-analyst/