Despite recent gains of 20% in a week, Ripple’s XRP still lags behind Bitcoin and other altcoins. However, top analysts such as Dark Defender and Alex Cobb believe that a bull run could be imminent for XRP. Dark Defender pointed out that XRP has been hovering around the Fibonacci level of $0.64 and indicators like MACD and Ichimoku suggest a further upward trend. According to Dark Defender’s prediction, XRP could surpass the $1 mark by the beginning of April. Alex Cobb also chimed in, stating that if XRP manages to break the key resistance level of $0.63, it could skyrocket to an all-time high in the coming months.
Long-Term Forecast for XRP
EGRAG CRYPTO provided a long-term forecast for XRP, predicting a substantial upswing in the next six years. The analyst believes that XRP could potentially surge above $10 by 2030, signaling significant growth potential for the digital asset.
Legal Battle with SEC: Key Determinant for XRP’s Trajectory
The ongoing legal battle between Ripple and the SEC is a crucial factor that could trigger a bull run for XRP. Ripple has secured three important partial court victories last year, with each positive outcome leading to a favorable response from the XRP token. The trial between Ripple and the SEC is set for April 23, 2024, but there is a possibility of delays that could prolong the legal battle until 2026, according to ChatGPT’s estimation.
While XRP may not have achieved the same level of gains as Bitcoin and other cryptocurrencies in recent weeks, analysts remain optimistic about its future trajectory. Technical analyses point towards a potential bull run for XRP, with key resistance levels and indicators suggesting upward momentum. Additionally, the outcome of Ripple’s legal battle with the SEC could serve as a significant catalyst for XRP’s price movement in the coming years. Investors and enthusiasts alike will be closely monitoring these developments to gauge the future potential of XRP in the ever-evolving crypto market.
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