Crypto Analyst Sees 46% Upside for XRP, Are We Headed to $3.40?
- XRP surges to $2.32, gaining 3.34% in 24 hours amid bullish market sentiment.
- The Ripple-SEC case is nearing resolution, with reports indicating possible appeal withdrawals.
XRP is stirring up the cryptocurrency market, climbing to $2.32 today with a 3.34% increase in the last 24 hours. This marks the fourth straight day of gains, driven by optimism and key regulatory advancements.
Ripples latest approval from the Dubai Financial Services Authority has played a crucial role in driving XRPs price upward. This regulatory endorsement grants the company the ability to offer authorized crypto payment services in the UAE, positioning it to capitalize on a vast $40 billion remittance industry and a substantial $400 billion global trade market.
Following this news, the token climbed 6%, rising from $2.21 to $2.34 on March 11. The announcement has sparked optimism in the market, as Dubais crypto-friendly environment could provide Ripple with a major competitive edge.
Crypto analyst CrediBull views XRPs drop under $2.00 as an ideal buying opportunity for traders. According to him, those who entered at that price range might potentially gain as much as 46.55% should the value climb to $3.40.
Ripples Legal Battle Nears Resolution
Another key factor influencing XRPs future is the expected resolution of its long-running legal dispute with the SEC. Since 2020, the company has been accused of conducting unregistered XRP sales, resulting in a prolonged courtroom battle.
A pivotal moment came in July 2023 when a judge ruled that XRP is not a security for retail sales, though Ripple was fined $125 million for institutional violations. Now, fresh reports indicate that both sides might drop their appeals, with Ripple negotiating more favorable terms under new SEC leadership.
A Fox Business reporter Eleanor Terret noted that the SECGov vs. Ripple case is in the process of wrapping up and could be over soon. Terret also mentioned that with new leadership, the SEC might be altering its approach, leaning towards regulatory clarity rather than pursuing an aggressive enforcement strategy.
XRP Price Predictions for 2025
Several analysts anticipate that XRP will experience upward momentum in the near future. According to crypto analyst Egrag Crypto, it might exceed $5 by the close of 2025, pointing to bullish reversal patterns and increasing institutional adoption.
Crypto YouTuber and hedge fund manager Thomas Kralow holds a more bullish outlook, projecting XRP to reach between $8 and $10 by 2025. In his view, increasing real-world adoption and prevailing market trends will be key drivers of this anticipated rise.
Analyst Crypto Patel compares XRPs current trend to its 2017 rally when it surged 40,000%. He envisions a $10 target by 2026, with 2025 as a critical buildup year. Meanwhile, Himanshu Maradiya, founder of CIFDAQ, goes even further, predicts that the value could range between $5 and $15, provided there is substantial growth in the adoption of On-Demand Liquidity (ODL).
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Read more: https://www.tronweekly.com/crypto-analyst-sees-46-upside-for-xrp/
Text source: TronWeekly
