XRP Price Could Explode 1,100% If SEC-Ripple Demand History Repeats: Details

TL;DR:

History shows that the SEC’s actions against Ripple have had an immediate and drastic impact on XRP’s price movements. However, the latest crash could be a blessing in disguise for the Ripple token, as there have been four-digit price increases in the past.

Can XRP rise by 4 digits?

It’s safe to say that the lawsuit initiated by the US Securities and Exchange Commission has hurt Ripple’s native token, and the developments of the last 24 hours only cemented that narrative. XRP was above $0.6 yesterday, but lost 15% of its value, and is now struggling around $0.51.

All this happened after the US watchdog decided to appeal an earlier court ruling by a US judge that stated that secondary sales of XRP did not constitute sales of securities.

While the current picture looks pretty bleak, history shows that it could turn out to be the start of a massive rally for XRP. Its price fell sharply after the SEC’s initial filing in December 2020, and it took just over a week to bottom out.

According to popular Crypto industry analyst Karlos, XRP rose from $0.17 to nearly $2 in the next four months. A similar increase of 1,100% would now push its price to more than $6.

For anyone from the #XRPCommunity be distressed by the SEC’s decision to appeal the ruling. #XRP it bottomed out just 8 days after the lawsuit was first announced. It then rose almost 1100% from 17¢ to $1.98 in the next 4 months.

This was without the support of any court pic.twitter.com/E7BBcQHr69

— Crypto Karlos (@Crypto_Kalos) October 3, 2024

Will XRP ETFs Make an Impact?

Just hours before the SEC appeal, another big news story came out about Ripple and its native token. Bitwise, a large crypto-focused company with already two active ETFs that track BTC and ETH, said it has filed in Delaware to launch this product that tracks the performance of XRP.

Many analysts stated that this is very optimistic for the seventh largest cryptocurrency today. In fact, CrediBull_Crypto told his 423,000 followers that the XRP ETF will be the next to be approved in the United States. While this seems quite unlikely at the moment, as the SEC is the US regulator that approves or rejects ETFs, a possible green light could be the propeller for a massive XRP rally.

Yes, I am aware of the SEC’s appeal of the @Ripple case, but at the same time in the last 12 hours (apparently unknown to many crypto twitter) @BitwiseInvest just submitted one $XRP ETF.

XRP will be the next ETF approved after that $BTC i $ETH imo

As for narratives, I… https://t.co/CBwx6IT9nc

— CrediBULL Crypto (@CredibleCrypto) October 2, 2024

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