Ripple’s XRP price may be heading for a sharp rise
After a period of sideways moves and subdued volatility, a rebound for Ripple’s XRP doesn’t seem far away. While the crypto market in general is experiencing a resurgence, XRP fans are looking forward to what analysts predict will be an upcoming massive price increase.
$3 trillion market cap on the horizon?
A prominent crypto analyst, Egrag Crypto, recently highlighted the potential explosive growth of XRP’s market capitalization this year. “Once XRP’s market cap breaks out of ‘the white channel,’ we’re headed for a run to a $3 trillion market cap,” the analyst wrote. “This is true XRP will take off like a rocket!“
Price level between $5 and $10 forecast
JackTheRippler, another renowned analyst, analyzed a so-called triangle pattern and predicted that XRP’s accumulation phase is coming to an end. He suggested a price increase to the level of $5 to $10 per XRP coin – a potential increase of around 1,800% from current prices.
Continued token selling raises questions
Despite the optimistic forecasts, investors remain concerned about Ripple’s continued sale of XRP tokens from their massive reserves. In June, the company is ready for the largest token sale in seven years, namely 400 million XRP. Such sales could continue to depress prices.
Legal battle with SEC continues to overshadow market
The years-long legal battle between Ripple and the American stock exchange watchdog SEC has continuously depressed the XRP price. Although the judge ruled last year that XRP is not a security, a possible settlement later this year may be seen as a boost for the digital asset.
