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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

XRP Price Projection: Analyst Envisions Potential 50X Surge To $14, Here’s Why

Ronaldo Marquez
Ronaldo Marquez
1 year ago
3 mins read
XRP price

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Since the beginning of December, the XRP price has been range-bound between $0.5762 and $0.6565, lagging behind other altcoins that have seen significant gains due to increased market capital inflows. 

However, recent developments surrounding the potential rejection of Bitcoin exchange-traded fund (ETF) applications by the US Securities and Exchange Commission (SEC) have added to market uncertainty and triggered a 10% drop in the XRP price, pushing it toward the $0.500 level.

XRP Price Legal Catalyst 

Despite these challenges, a significant catalyst could potentially propel XRP to new heights—the ongoing legal clash between Ripple Labs and the SEC regarding XRP sales. 

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Crypto analyst Egrag Crypto has expressed optimism, stating that a 40X or even 50X boom is possible for XRP, citing the impressive performance of the cryptocurrency in the previous cycle despite the SEC lawsuit. Egrag Crypto stated:

Last cycle, despite the pesky SEC lawsuit, XRP surged almost 20X. This time, with its unparalleled legal regulatory clarity, the potential for a 40X or even 50X boom seems promising

By the numbers, according to Egrag Crypto’s analysis, at its cycle low of $0.28, a 40X surge could potentially push the price to around $11. 

Taking it further, a 50X leap might see XRP soar to around $14. To put this into perspective, Egrag, compared with Ethereum’s (ETH) previous cycle multiplier of 58X, XRP at $0.28 could reach an astounding $16. 

While XRP’s future holds promise, the Ripple vs. SEC lawsuit remains a focal point for investors. Understanding the key dates in the legal proceedings is crucial. Here is a breakdown of the upcoming milestones:

Key Dates Revealed For Ripple-SEC Legal Battle In 2024

12th February 2024: Remedies briefing begins: Ripple and the SEC will present their respective arguments and proposals regarding potential remedies for the legal dispute on this date. This briefing will provide insights into the parties’ positions and suggested resolutions.

13th March 2024: SEC files remedies brief: Following the remedies brief, the SEC will submit a remedies brief outlining their proposed solutions to address the alleged violations committed by Ripple. This filing will further clarify the SEC’s stance and the actions they seek against Ripple.

12th April 2024: Ripple submits opposition: Ripple will have an opportunity to present their opposition to the SEC’s proposed remedies. They will outline their arguments against the SEC’s allegations and offer counterarguments and alternative solutions. 

29th April 2024: SEC replies: The SEC will be able to respond to Ripple’s opposition. They will address Ripple’s arguments and provide additional justification for their proposed remedies.

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XRP price
The daily chart shows XRP’s dip to $0.500 on Wednesday. Source: XRPUSDT on TradingView.com

Currently, the XRP price has recovered slightly to the $0.5715 level, with an eye on these key dates that could shape the future, the legal denomination of the token, and its impact on the future price action. 

Featured image from Shutterstock, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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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.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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