Tony Edward on social media offered a positive view on the expected bull run for XRP, noting that despite the criticism, XRP's chart is showing optimistic signs. This view was shared by analyst CrediBULL Crypto, who further emphasized that XRP's long-term consolidation is about to end, describing it as "the key signal that foreshadows the arrival of all bull runs." CrediBULL Crypto predicts that XRP will show impressive growth potential once the market starts to pick up.
In their detailed forecasts, the two analysts jointly pointed out that if the bull run officially starts, the price of XRP may climb sharply from the bottom, with a forecast range of between $10 and $30. They also emphasized that bets that XRP will collapse are unfounded in the context of the current expected rebound of Bitcoin.
However, not all market observers are so optimistic. Some experts have reservations about XRP, such as Grayscale, which did not include XRP in its list of top 20 cryptocurrency investments in the fourth quarter, and chose other tokens with lower market capitalization, including SUI and TAO.
Another factor that cannot be ignored is the legal action between the SEC (U.S. Securities and Exchange Commission) and Ripple. CrediBULL Crypto analysis said that since the lawsuit began in 2020, XRP prices have suffered a heavy blow, and even failed to reach new highs in the 2021 cryptocurrency bull market. Although the lawsuit seems to be coming to an end, the SEC still needs to decide whether to appeal the court's ruling by October 7. This unresolved issue continues to add a layer of uncertainty to the future of XRP. Therefore, any news related to the SEC lawsuit may have a direct impact on the price of XRP, and market volatility may increase accordingly. Currently, XRP is trading at about $0.59, and has declined slightly in the past 24 hours, and the increase in a week is less than 1%, indicating that its market performance is still relatively stable but lacks significant upward momentum.
