XRP May Benefit From Altcoin Season
Another important point to note is that XRP tends to perform relatively well during alt seasons. Considering how the future looks, alt seasons are likely, especially if Bitcoin’s market dominance decreases. Back in 2017, during an alt season, XRP experienced an astonishing 500X growth from $0.006 to around $3.50. Reports from that period also saw XRP grow over 10 times while still entangled in SEC laws, with its value fluctuating from $0.18 to $1.96. Based on what Cage said, this may happen again, especially if Bitcoin’s market share growth stalls. Some even predict a high-end estimate of $278 if XRP follows the trends seen in 2017, which saw a 500X increase.
XRP Problems: Lawsuits and Market Sentiment
The likelihood of XRP making some impressive gains is there, but its upside largely depends on the verdict in the Ripple versus SEC lawsuit. Investors have been anticipating a breakthrough, one that could resolve the legal matter that has not only impacted XRP’s price for several years but also caused it to be delisted from many top crypto exchanges. Additionally, with Bitcoin surging and dominating the market, there’s uncertainty about when the alt season will occur and, even if it does, whether XRP will repeat its past performances.
While XRP has the potential for an explosive rally fueled by market dynamics and legal aspects, Rexas Finance (RXS) is a better option for investors looking for massive returns.
