An analyst predicts XRP could hit $5 to $6 despite the ongoing SEC appeal, supported by previous recovery trends.
Bitcoin’s future performance is expected to significantly influence XRP’s price movements, with potential gains during the 2024-2025 cycle.
If Bitcoin reaches new all-time highs, XRP could experience price increases of up to $2.88 in a worst-case scenario.
Ripple’s XRP is under renewed pressure as the SEC has filed an appeal in its ongoing case against the company. This legal battle has led to increased uncertainty for XRP investors. Despite this, many remain optimistic, drawing strength from past recoveries. Amid these challenges, a well-known XRP analyst has presented a ‘worst-case scenario’ price prediction, indicating that the asset could still see significant gains.
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Analyst Highlights Potential for XRP Growth Despite Legal Struggles
The latest analysis suggests that even under the weight of continued regulatory pressure, XRP may still perform well. The analyst, who has previously shared optimistic forecasts for XRP, uses various chart indicators to support their prediction. Despite the current legal uncertainty, the analyst believes that XRP has several strong technical signals that could lead to a price surge.
One crucial point raised is the historical comparison with December 2020, when the SEC first took legal action against Ripple. At that time, XRP experienced a sharp decline but soon rebounded, seeing a remarkable 10x increase from its low. If this pattern repeats, the analyst predicts that XRP could climb to between $5 and $6 in the coming months.
Bitcoin’s Performance May Influence XRP’s Trajectory
Beyond the legal challenges, Bitcoin’s market performance is expected to play a key role in determining XRP’s price movement. The analyst points out that during the last major bull run, when Bitcoin peaked at $68,000, XRP surged to $1.96.
Looking forward, the analyst suggests that if Bitcoin reaches a new all-time high between $80,000 and $100,000 during the 2024-2025 cycle, XRP could follow suit. In this scenario, XRP could rise to $2.31 if Bitcoin hits $80,000, and potentially $2.88 if Bitcoin reaches $100,000.
XRP Shows Resilience Amid SEC Appeal
Despite the ongoing SEC appeal and the uncertainty surrounding Ripple’s case, XRP continues to demonstrate resilience. The analyst’s ‘worst-case scenario’ prediction offers hope to investors, suggesting that the asset could still achieve substantial gains even in the face of regulatory challenges. The potential for XRP to hit new all-time highs remains, driven by market factors and the performance of major cryptocurrencies like Bitcoin.
