Financial expert and author Linda P. Jones recently discussed the future of Ripple’s XRP, urging investors to be patient due to upcoming events that could significantly impact the asset’s value. Despite its recent lackluster performance, Jones believes that several factors could fuel a rally for XRP in the near future.
The outcome of the ongoing Ripple v. SEC case, scheduled for April 23, 2024, is one of the most crucial factors. Ripple has already secured three major, albeit partial, court victories last year, which could potentially tip the scales in its favor. Jones also mentioned the possibility of a Ripple IPO, which could influence XRP’s price. However, she cautioned that the IPO could not proceed until a final settlement is reached between Ripple and the U.S. securities regulator.
Another key element is the implementation of comprehensive regulations in the cryptocurrency sector. Jones predicts that such regulations could be enforced by 2025, but XRP’s price might react before then. She also made an intriguing prediction about memecoins, stating that 2024 could be their last year to explode due to upcoming legislation that could negatively impact them.
Other factors that could boost XRP’s value include rising institutional adoption and the upcoming Bitcoin halving event in April, which reduces miners’ rewards by half. If demand remains steady or increases, this reduction in supply could lead to price appreciation for Bitcoin and, by extension, altcoins like XRP that often follow Bitcoin’s trends.
Various analysts have offered diverse predictions for XRP’s future price. Twitter users Dark Defender and EGRAG CRYPTO have set extremely bullish price targets, with the former predicting that the global cryptocurrency market capitalization could exceed $23 trillion within a year, and XRP could reach $13.72. EGRAG CRYPTO was even more optimistic, suggesting that XRP could replicate its 2017 performance and skyrocket to $220.
However, not all predictions are positive. Bitgolder, an analyst on TradingView, presented a bearish scenario where XRP’s price could drop to $0.07 in the coming months. He believes that XRP is losing strength and will continue to bleed out due to the number of bag holders and the constant pumping by certain YouTube influencers.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Linda P. Jones, Bitgolder, Dark Defender, EGRAG CRYPTO |
| Companies | Ripple, TradingView, Twitter, SEC, CryptoPotato |
| Currencies | XRP, Bitcoin |
| Securities | None |
