The Real Price Impact For XRP: Expert Shares Timeline For Expected Surge, Heres When
Due to regulatory hurdles, XRP failed to initiate a significant rally alongside other notable cryptocurrency assets like Bitcoin and Ethereum in the 2021 bull cycle. There has been much speculation about when the altcoin will surge again.
However, a market expert has recently shared insights into when the actual price impact for XRP will develop, indicating a positive future for the crypto asset.
Real Price Impact For XRP On The Horizon
SMQKE, an observer and researcher of Current Tech Shift, has disclosed the period for the much-anticipated rally for XRP to come to light, emphasizing the key developments that may influence the value of the digital asset in the future.
The expert bases his prediction on the recent developments around the Ripple-Russia Presentation, which implies that major confirmation was provided that all of the big banks that have teamed up with Ripple, including leading banks that are crucial to the system, such as Standard Chartered, Santander, and Bank of America, are currently running in test mode.
If these major banks are still in the testing phase, it means they have not yet fully integrated Ripples technology into their daily operations, he added. Because of this, SMQKE believes that XRP has been unable to move significantly despite its potential utility.
XRP may be struggling to undergo a major price upswing, but SMQKE asserts that this development is encouraging for XRPs future because systemically important banks are participating in the ongoing testing.
As a result, the researcher is confident that after the tests are over and the big banks have transitioned to full-scale adoption of Ripples technology, the real price effect for XRP will take place.
This is because once these tests are successfully concluded, there will be a greater need for XRP as a utility asset in financial transactions, potentially resulting in a sharp increase in the altcoin price.
Current State Of The Market In A Wait And See Phase
According to the expert, the market could be in a wait and see phase. This is because investors might be delaying pushing up XRPs price until they see definite evidence of widespread acceptance and regulatory certainty around the asset.
The legal litigation between Ripple and the United States Securities and Exchange Commission (SEC) has been a major roadblock for the potential of XRP. SMQKEs insights suggest that investors await the lawsuits conclusion before pouring massive capital into the crypto asset market.
If the lawsuit ends and Ripples technology integration tests with big banks go live, there is a good chance that the value of XRP will witness a notable price rally, possibly to new all-time highs.
Read more: https://www.newsbtc.com/analysis/xrp/expert-shares-timeline-for-expected-xrp-surge-heres-when/
Text source: NewsBTC
