🚀 3 Reasons XRP Price Could Hit $1 This Summer
🔸 1. Ripple Sliding Into Home Base On SEC Suit?
The U.S. Securities and Exchange Commission sued Ripple Labs, its founder, Chris Larsen, and its CEO, Brad Garlinghouse, in Q4 2020.
So the SEC Ripple lawsuit has been raging for years, but finally showed signs of settling last summer when a sweeping series of legal wins came one after another until the end of last year.
A positive or even less-damaging resolution could finally remove the overhang that XRP has been under for the past years and help it perform well, especially in bullish market conditions.
🔸 2. XRP Ledger (XRPL) Development
What the market doesn’t know yet, telling by the XRP price performance against competitors like Solana, is that this cryptocurrency for banks is about to break out in the DeFi space with its smart contract issuance layer, XRP ledger.
According to a recent X post by a16z-backed blockchain developer group EasyA app founder Dominic Kwok, 134,000 developers are learning about Ledger on his company’s app. Talk about an XRP army.
🔸 3. Ripple Interoperability With Ethereum
One very exciting development for Ripple, which could have a positive impact on #XRP price, is growing interoperability with Ether. That’s because Ethereum is the current DeFi leader in Web3. Meanwhile, there’s an EVM (Ethereum Virtual Machine)/XRP Ledger side-chain incoming!
In May, interchain protocol Cosmos announced that Ripple and Ethereum Cosmos developer evmOS are partnering “to build an XRP Ledger EVM sidechain!”
“The sidechain will be built with evmOS – a production-ready modular solution that leverages Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 businesses,” Cosmos added.
That might be bullish for XRP price because the easier it is to use and spend your Ether to get service from an XRPL Dapp (decentralized application) or vice versa— the easier it is to spend your XRP tokens directly to the Ethereum Virtual Machine and pay for service.
