According to CryptoPotato, analysts are predicting that Ripple's XRP could see significant price shifts in the near future, with targets ranging from $1.88 to $2.50. Some models are forecasting the next 300 days for XRP, suggesting substantial changes in its valuation. The ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) could further impact the asset's value, with many expecting a favorable outcome for Ripple.
Over the past week, Ripple's XRP has seen a 6% increase in price, currently trading at around $0.53. This resurgence has caught the attention of many analysts, some of whom are predicting fresh peaks in the near future. Analyst Mikybull Crypto has suggested that XRP's price has hit bottom and is preparing for a significant upward move. Another analyst, Captain Faibik, supports this view, setting a midterm target of $2.50 for the cryptocurrency.
Other analysts, such as Dark Defender and EGRAG CRYPTO, are also bullish on XRP, albeit in a more modest fashion. Dark Defender has suggested that XRP has returned to a pattern that could fuel a price rally to as high as $1.88. EGRAG CRYPTO has presented a Structural, Sentiment, Macro, and Psychological (SSMP) model that depicts the next 300 days for XRP. This model suggests a substantial rally in the price range of $0.53-$0.58, followed by a rise to $0.63-$0.70, and then a bull run starting at $0.75-$0.85. The analyst concluded that a monthly close above the $0.93-$1 range could mean a permanent move above $1 for XRP.
The ongoing lawsuit between Ripple and the SEC could also have a significant impact on XRP's price. Ripple secured three partial wins last year, which led to spikes in XRP's value. Many are expecting an even larger surge if Ripple achieves a decisive victory. The outcome of the lawsuit remains unclear, but American attorney Jeremy Hogan believes it could be resolved with a $100 million settlement before the end of the summer.
