XRPs Biggest Hater Dramatically Changes Tune, Predicts Monstrous Explosion To $24: Heres Why
A popular crypto pundit is leaning bullish on the XRP cryptocurrency. Davinci Jeremie has predicted that the price of XRP could see a monster move to the mythical $24 milestone in the next bull market cycle.
But it wasnt always like this: Davinci was once the biggest hater of the XRP cryptocurrency. So how did we get here?
Bitcoin Maxi Foresees XRPs Run To $24
For many years, Davinci Jeremie called XRP a stablecoin and predicted the assets value would ultimately crash to zero.
However, Davinci has seemingly reversed course, projecting a rosy outlook for the crypto he once reviled. Specifically, the pundit suggested that XRP could rocket to as high as $20-$24 during the incoming bull phase in 2025.
XRPs price is trading 32% above its $2.12 low reached on Feb. 3, up 3.8% over the last 24 hours to $2.81. XRP would need to rise by a whopping 754% in order to reach Davincis projected $24 price target. The Bitcoin maxis newfound optimism has caught the attention of the cryptosphere.
Thinking Crypto podcast host Tony Edward, for instance, described it as the XRP hater capitulation, stating that it is beautiful to behold.
Edward noted the increasing number of XRP skeptics now begrudgingly flipping bullish on the third-largest crypto. Other prominent figures that previously dismissed XRP, including crypto billionaire Mike Novogratz, are now scrambling to buy and cover their tracks so they dont look like fools, Edward posited.
Heightening Hopes Of ETF Approval Buoy XRPs Upside Potential
XRPs bullish outlook is further boosted by increasing optimism over the possibility of the U.S. Securities and Exchange Commission approving a spot exchange-traded fund (ETF) tracking the XRP price. The SEC recently acknowledged XRP ETF proposals from Grayscale and 21Shares, despite the ongoing case against Ripple, the issuer of XRP. If approved, these filings would lead to the first XRP ETFs in the country.
Shocked more people arent talking about SEC accepting XRP ETF filing They have open litigation w/ Ripple, said Nate Geraci, President of the ETF Store in a post on X. Meanwhile, they just acknowledged filing of ETF holding asset in dispute (they easily could have rejected this filing). Enormous message [in my opinion].
Similarly to Bitcoin and Ethereum ETFs, the greenlighting of XRP products would boost liquidity as ETFs typically provide a regulated investment vehicle for institutional investors to gain exposure without the hassle of holding and storing the crypto themselves. This would dramatically increase demand for XRP, boosting its price due to the influx of institutional money and wider market participation.
Text source: ZyCrypto
