With institutional adoption, concluding the bear market, and favourable court judgements, XRP looks to be poised for a bullish rise above $5.
XRP, the fifth-largest cryptocurrency, is trading at $0.4865 right now, with a substantial 24-hour volume of more than half a billion dollars. While the whole cryptocurrency market is mired in a bear market, XRP is wrapped in peculiar conditions that might cause it to emerge from the bears and possibly leave other digital assets behind.
The lengthy bear accumulation periods of XRP, the regulatory issues with the US regulator, the commercial alliances of Ripple, and the adoption by financial institutions are some of the distinctive occurrences surrounding the cryptocurrency.
Furthermore, Google Bard, an artificial intelligence programme powered by Google, confirmed that these conditions will help push XRP closer to $5. It’s interesting to note that crucial changes have occurred recently for these XRP-specific occurrences.
XRP’s Next Move: Could Ripple’s Legal Battle Propel It to $5?,XRP’s Next Move: Could Ripple’s Legal Battle Propel It to $5?
Court Upholds XRP’s Unambiguous Regulatory Status
The judge overseeing the SEC v. Ripple case earlier this month denied the SEC’s request to file an appeal of the decision that XRP is not a securities.
Remember that based on the SEC’s position, Judge Analisa Torres ruled in July that XRP did not automatically qualify as a security. Amidst the ongoing legal dispute, the US court upheld XRP’s unambiguous regulatory position. As a result, there are no barriers in the way of its capacity to rise.
XRP Reaching $5 Astronomically
At its current price of $0.4865, XRP must increase by more than 927% in order to reach $5. Even while the percentage points to a difficult future, XRP has before shown signs of such astronomical development.
For instance, XRP increased from $0.009482 in March 2017 to $3.84 in January 2018, when it reached its ATH. That is an increase of more than 40,486% in just ten months. Therefore, it’s not out of the question that XRP may rise 927% to $5.
XRP’s Next Move: Could Ripple’s Legal Battle Propel It to $5?,XRP’s Next Move: Could Ripple’s Legal Battle Propel It to $5?,XRP’s Next Move: Could Ripple’s Legal Battle Propel It to $5?