The moderator of the YouTube channel “Discover Crypto” boldly claimed this the XRP price could increase by 1000% from the current price range. He emphasized that Securities and Exchange Commissions (SEC) proceedings against Ripple as one of the factors that could trigger this price increase.
XRP price could increase tenfold if Ripple and SEC reach agreement
In one Video The analyst published on the YouTube channel suggested that XRP would once rise significantly Ripple and the SEC finally reached an agreement. He described this long-running legal battle between both parties as a “black cloud” that continues to create uncertainty in the XRP market.
He also noted that investors have a strong dislike of uncertainty, which may explain why they continue to trade cautiously instead of doubling down on their XRP investments. Meanwhile, the “Discover Crypto” host believes so, no matter how much Ripple ends up being finedAn agreement will undoubtedly be “positive news” and the trigger for the price increase.
The crypto analyst then listed four more reasons why he believes the price of XRP could rise by 1000%. First, he stated that a Ripple IPO (IPO) could also trigger a significant rally for XRP. He claims that this price increase is being fueled by market makers and whales looking to create positive sentiment around the IPO.
To support this point, he claimed that the biggest move for Bitcoin in 2021 was not due to this Bitcoin halving or any market cycle, but because of the Coinbase IPO. The same market makers were said to have driven up the price of the flagship cryptocurrency at the time.
Token price at $0.53 | Source: XRPUSD on Tradingview.com
Other factors that could trigger XRP’s parabolic move
The crypto analyst explained Crypto legislation as the third reason why XRP could rise exponentially from its current price level. While he admits that the entire crypto market will benefit from this, he believes that XRP will be one of the tokens that benefit the most from this development.
Institutional adoption is also expected to be another catalyst for XRP’s parabolic move. The “Discover Crypto” host noted how Explore Bitcoin ETFs have opened the doors to general acceptance. Therefore, he expects more companies to want to add crypto tokens like Add XRP to your portfolio alongside their Bitcoin commitment.
The fifth factor that could trigger this 1000% rally for XRP is the Bitcoin halving. The crypto analyst predicts that all crypto tokens, including XRP, will surge after the halving. Therefore, he believes that buying XRP now at $0.50 is definitely a bargain.
Featured image from Crypto News, chart from Tradingview.com
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