Buckle Up, XRP Fans: Analyst Eyes Price Explosion To $0.65 In Next 5 Days

Christian Encila

Last Updated: July 11, 2024 10:03 am

3 mins read

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The native token of Ripple, XRP, has been a subject of much discussion recently. The coin’s recent problems and the continuous legal fight between Ripple and the SEC make some analysts wary even if some forecast a major price surge this weekend.

Stalled At The Starting Line: XRP’s Recent Performance

For weeks XRP has been caught in low gear, unable to pass the $0.54 barrier level. This slowness also affects the more general timescale; the coin dropped in the past month, week, even the recent 24 hours.

XRP was trading at $0.5185 at the time of writing, down 3.8% in the past 24 hours, although data from Coangecko reveals that it barely increased 0.4% previous week.

Weekend Surge On The Horizon?

One notable crypto prediction tool that stands out from the others with a positive projection is Coincodex. With XRP maybe reaching $0.648 by Tuesday, May 21st, they project a significant price rise for the coin. From its present price, this would show a leap of nearly thirty-two percent.

XRP seen hitting the high notes. Source: CoinCodex

Even Coincodex, though, admits the possibility for an other outcome. The research notes the likelihood of consolidation at $0.4952 or perhaps a price decline should profit-taking get more aggressive.

Legal Clouds Dampen Enthusiasm

Many analysts think XRP’s underperformance is mostly caused by the continuous dispute between Ripple and the SEC. Ripple contends XRP is a money; the SEC claims it is a securities. This court fight has clouded the bitcoin and caused investor uncertainty.

XRP is currently trading at $0.51. Chart: TradingView

Still, there is hope glimmers here. According to the paper, the lawsuit is almost over; Judge Analisa Torres is scheduled to render a final ruling this year. Especially if it benefits Ripple, a clear answer might open the path for a notable future price rise. As the study notes, some analysts even project XRP might soar over $47 during the next bull run.

XRP Greed Index at 70. Source: CoinCodex

Weighing The Bullish And Bearish Signs

The XRP future is yet unknown. The forecast of Coincodex gives some hope for a near-term price increase. But a more complicated picture is painted by the recent price fall, continuous legal dispute, and wary investor mood.

Looking Ahead: A Post-Lawsuit Future For XRP?

The outcome of the SEC lawsuit could be a sea change for XRP. Should ripple become front stage, it may eliminate a significant barrier to institutional investment and more general acceptance. This plus a possible bull run in the larger bitcoin market might help XRP soar.

Still, even a good result would not ensure flawless sailing. The market for cryptocurrencies is still erratic, hence XRP is under competition from other well-known companies.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.