Epic Rise or Severe Correction in XRP’s Future?

TL;DR

One analyst believes that XRP could topple ETH driven by potential factors such as a favorable outcome for Ripple against the SEC and an ETF approval. Others, however, expect a possible 12% pullback. XRP to invest ETH?

Ripple’s XRP is among the few leading cryptocurrencies whose prices have fallen year-to-date (YTD). It is currently trading around $0.52, which represents a 15% decline compared to the figure seen on January 1st.

XRP Price, Source: CoinGecko

However, many bullish analysts believe that XRP is poised to catch up with the market and post impressive gains. One of the optimists is Ben Armstrong, better known in X as BitBoy.

He recently predicted that the market capitalization of Ripple’s native token could surpass that of Ethereum (ETH). He based his wild forecast on the assumption that XRP has no competitors. On the other hand, BitBoy said that Ethereum’s rivals have been on the rise lately, citing Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT) as examples.

The analyst believes that ETH still has a chance to experience a substantial resurgence sometime next year, but does not see its market cap exceeding $1 trillion (the current cap sits at a bit more than 300 billion dollars).

Moving on to XRP, he envisioned a price explosion to $22. Such an increase would put the asset’s market capitalization at $1.17 trillion.

“20x to 30x for XRP from here is not that crazy. In fact, it’s capable of more. I think it will possibly be the number one coin of the entire bull run,” BitBoy surmised.

It is worth noting that an XRP bull run would depend on the combination of numerous factors. According to the analyst, some of these include a possible Trump victory in the US presidential election (and the possible firing of SEC Chairman Gary Gensler as a result), a final resolution of the Ripple v. SEC case, a approval of an XRP. ETFs in America and more.

Another X-user seeing assets rise to invisible peaks is Dark Defender. Earlier this week, the strategist claimed that XRP could shoot up to $18.22 if it breaks the $0.66 resistance level. The other essential condition is holding above $0.3917.

What about an additional withdrawal?

However, not all analysts believe that XRP is headed for a rise. User X Cryptoinsightuk, for example, maintained that a possible correction to $0.46 is looking “increasingly likely.”

The prolonged lawsuit between Ripple and the US SEC could be another element that could suppress the asset’s valuation in the coming months. Recall that the regulator recently appealed a 2023 verdict set by Judge Torres (which ruled that the company’s sales of XRP to retail investors on crypto exchanges did not violate securities laws).

The measure postponed the official resolution of the case, adding a new layer of uncertainty and triggering a new phase consisting of filings and an information process.

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