Can XRP Reach $1 in 2021? Analysts Anticipate Price Surge After Ripple’s Legal Victory
XRP is poised for a substantial surge in 2024, driven by recent developments and shifting market dynamics. The recent decision by the U.S. Securities and Exchange Commission (SEC) to accept that XRP is not a security has reignited excitement within the XRP community. As regulatory uncertainties start to fade, investors are optimistic about broader acceptance and potential growth for the cryptocurrency.
Bill Morgan, a prominent pro-XRP lawyer, has further bolstered investor sentiment by suggesting that XRP could rally to all-time highs in 2024. The burning question on everyone’s mind is whether XRP will surpass the $1 mark this time around.
Morgan’s analysis highlights four key factors that could drive XRP’s growth: legal clarity on XRP’s status, resolution of the Ripple vs. SEC lawsuit, availability for trading on U.S. exchanges, and Ripple’s unrestricted use of XRP. While progress has been made on some fronts, challenges still exist, shaping the narrative around XRP’s resilience amid legal complexities.
With the SEC choosing not to challenge the ruling on XRP’s security status, the cryptocurrency is on the verge of reaching new heights. However, uncertainties remain as the SEC seeks an extension for better clarity, keeping investors on their toes and the market on edge.
In the backdrop of Bitcoin’s resurgence to $70,000 and XRP’s potential, market sentiment remains positive, fueling expectations of an upcoming bull run. Morgan points to historical data, highlighting XRP’s strong performance in the second and final quarters, which raises expectations for its future trajectory.
Currently, XRP is trading at $0.6308, showing a 1.44% increase from previous levels, with a relatively stable trading volume. Over the last 24 hours, XRP has reached a high of $0.6318 and a low of $0.6048, indicating notable volatility.
XRP has been on an upward trend, with a 4.73% price increase over the past week and a significant 22.49% rise over the last month. This growth suggests that XRP may be a solid investment option, attracting attention from investors looking for further potential within the current market conditions.
The current price of XRP and its alignment within a long-term pattern suggest a significant moment ahead. Analysts are hopeful for a breakout, bringing good news for investors. Despite ongoing legal concerns, XRP’s resilience and the positive market sentiment, especially considering Bitcoin’s record highs, indicate promising days ahead.
While the exact timeline remains uncertain, the future looks bright for XRP.