Analyst Says XRP Price Will Reach $100, But This Needs To Happen First
Crypto analyst JackTheRippler has raised the possibility of the XRP price rising to $100 soon enough. As part of his prediction, he mentioned what needs to happen for the crypto token to attain such ambitious heights.
How XRP Price Could Rise To $100
JackTheRippler suggested in an X(formerly Twitter) post that the XRP price hitting $100 was inevitable once the case between the Securities and Exchange Commission (SEC) and Ripple came to an end. Furthermore, he predicted that XRP could rise to as high as $10,000, claiming that the crypto token hitting five figures was achievable after the lawsuit.
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The analysts remarks again highlight the belief among members of the XRP community that the SECs lawsuit against Ripple has greatly hindered XRPs growth. Specifically, the lawsuit is believed to be why XRP underperformed in the 2021 bull run, having made remarkable strides in the 2017 bull run (long before the lawsuit was instituted).
Meanwhile, in his remarks, JackTheRippler alluded to XRP gaining regulatory clarity once the case between the SEC and Ripple was over. This statement caught the attention of some of his followers, who pointed out that it had gotten clarity following Judge Analisa Torres ruling that XRP isnt a security.
Interestingly, XRP has failed to mount any significant run despite gaining this clarity last year. This is one reason why some XRP holders seem to have lost faith in the crypto token, as expectations were high following Judge Torres ruling. However, nothing much happened as the crypto token briefly rose on the back of the ruling but steadily declined in the following weeks.
Therefore, these holders will likely be cautious about getting their hopes high despite JackTheRipplers optimism since XRP could still maintain its unimpressive price action even after the SECs lawsuit is over.
The SECs Lawsuit May Not Be Ending Anytime Soon
Meanwhile, it is worth noting that the case between the SEC and Ripple could even drag on beyond this year, irrespective of the outcome of the penalties stage, as both parties are likely to appeal certain rulings. This means that XRP holders might have to wait a while to see if the crypto token hits $100 based on JackTheRipplers prediction.
If the case is prolonged beyond this year, XRP could miss out on achieving its true potential in this bull run if the lawsuit is indeed acting as a stumbling block to its progress. The lawsuit has, however, not stopped crypto analysts like Egrag Crypto from making bullish predictions for XRP in this bull run. He predicts the crypto token could rise to as high as $27 at this market peak.
At the time of writing, XRP is trading at around $0.54, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Read more: https://www.newsbtc.com/analysis/xrp/xrp-price-will-reach-100/
Text source: NewsBTC
