The Price of XRP Could Reach $59,873 If These Four Things Happen
An analyst in the XRP community highlights four key events that might propel XRP to a daring $59,873 price.
Market analysts and industry commentators have maintained their high expectations for XRP’s potential price increase despite assertions that the cryptocurrency is currently undervalued. One analyst and member of the XRP community, King XRP, has recently made some bold predictions, though.
The anonymous analyst, in an X post, detailed four forthcoming events that will have a significant impact on the XRP ecosystem and Ripple, the biggest XRP holder. The forecasts indicate that if these four occurrences come to fruition, XRP might experience a significant surge in value.
Statement Regarding the Settlement of Ripple v. SEC
The first development is the announcement of a settlement in the long-running legal struggle between Ripple and the U.S. SEC. This long-running litigation has finally reached the remedies phase, where the two sides are arguing over how much of an acceptable Ripple should pay for breaking securities regulations with its previous XRP sales to institutions.
Ripple contends that the SEC’s civil penalty shouldn’t exceed $10 million, even though the SEC is demanding over $2 billion, with a civil penalty of $876 million. The public is now waiting for the ultimate ruling because both sides have provided their required documentation. However, experts in the field are speculating that a settlement may soon be reached.
A month ago, settlement rumors were circulating, but Stuart Alderoty, Ripple’s CLO, put an end to them. But this has continued the unceasing spread. According to XRP King, if a settlement announcement were to occur, the price of XRP might surge 3,577% from its current $0.5049 level, reaching $18.57.
The Integration of XRP and Partnerships With Local Banks
The early adopters of XRP saw it as “the banker’s coin” because of its potential as a medium of exchange for international bank transfers. Such opinion was already high before Ripple formed ties with remittance companies and other major financial institutions.
Nevertheless, some regulated financial institutions have chosen to avoid dealing with XRP because of concerns about managing an asset that is considered an unregistered security after the accusations that the SEC brought against Ripple in December 2020.
Even though Judge Analisa Torres said XRP was not secure in July of last year, these institutions’ handling of XRP remains the same. The sole discernible change was the relisting of XRP on major U.S.-based crypto exchanges following the verdict.
However, XRP advocates contend that major institutions will not deal with XRP until the case between Ripple and the SEC concludes. Mr. King predicts that XRP will surge from its current price of $18.57 to $257.21—an additional 1,285% increase—should such integrations take place.
IPO of Ripple
A public listing of Ripple’s shares would be a massive deal for the XRP community, and they can’t wait for the business to announce its IPO. Despite the current uptick in talk of an initial public offering (IPO), Ripple CEO Brad Garlinghouse has stated that an IPO may only occur sometime soon.
Notable members of the XRP community, including Eri, have voiced concern that Ripple’s initial public offering (IPO) may be postponed. According to current trends, the IPO is still likely to materialize, even though it will be later than projected. The incident, according to some analysts, has the potential to boost XRP’s price significantly.
According to XRP King, the initial public offering (IPO) will pave the way for a more substantial XRP surge. From his prediction of $257.21 to a three-digit number of $3,748 for XRP, he predicts a meteoric rise. The price of XRP would then rise by a further 1,357%.
The Integration of XRP Into the Global CBDC
XRP has garnered significant interest from prominent financial institutions due to its strong presence. Multiple central banks have taken notice of XRP because of its potential usefulness in international money transfers. Consequently, it has been marketed as a cryptocurrency that might potentially make CBDC transactions easier, mainly when using CBDCs from various nations.
Furthermore, Ripple has persisted in forming alliances with other areas for their CBDC initiatives, encompassing Bhutan, Hong Kong, Palau, and Montenegro. Using XRPL technology, the CBDC project in Palau has already progressed to phase 2 of the pilot stage.
Industry analysts predict that these developments will lead to XRP being used as a medium of exchange for CBDC payments. Many people advised the U.S. Federal Reserve to settle CBDC using XRP. According to Mr. King, if XRP were connected with CBDCs, its value would skyrocket from $3,748 to $59,873.
Conclusion
Although these four occurrences have the potential to affect the price movement of XRP positively, it should be mentioned that Mr. King’s goals are unrealistic. The cryptocurrency industry is notoriously unpredictable. Consequently, these price projections are meant to be taken as something other than investment advice.
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