Cryptocurrency analyst Dark Defender announced his XRP price prediction for 2024. Defender predicts that XRP could rise to $22.50 in the next 10 months.
Defender's prediction is based on the fact that XRP has been in an uptrend for the last six months. The analyst says that XRP could reach the $22.50 level if this trend continues.
Another factor supporting Defender's prediction is the outcome of the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs. The final hearing in the case will be held on April 23, 2024. If Ripple wins the case, the price of XRP is expected to increase significantly.
As you may remember, Ripple won 3 critical victories in its legal fight against the SEC in 2023. For this reason, Ripple Labs has the upper hand in the case. Judge Analisa Torres, who presided over the case in July 2023, ruled that Ripple's XRP sales in secondary markets were not an investment contract offer. Following this development, there was a significant increase in the price of XRP.
Author, investment expert and speaker Linda P. Jones believes that various developments, including Ripple's possible IPO, cryptocurrency regulations and the upcoming block reward halving, are developments that could trigger an increase in the XRP price.
Factors That May Make XRP Rise
XRP has been in an upward trend for the last six months
The outcome of the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs
Ripple's possible public offering
Cryptocurrency regulations
Upcoming block reward halving
Conclusion
Dark Defender's $22.50 prediction is seen as a very optimistic prediction for XRP. However, there are some factors that support the analyst's prediction. If these factors occur, it is possible for the XRP price to reach $ 22.50.
