XRP Analyst Predicts Coin Could Surge 21,000% to Exceed $150 XRP has been a standout performer over the past three weeks. After dropping below $0.40 in early July, the coin has surged by 60%. This strong rebound places XRP ahead of other leading altcoins like Solana and Ethereum, suggesting there could be further growth potential.
Is XRP Set to Reach $150? Analyst Believes It Could Happen
According to recent analysis, XRP is showing promising trends on the daily chart. The coin has recently surpassed key reaction levels, with a close above $0.55, which now acts as crucial support. This move reversed losses from mid-April. Additionally, XRP’s recent close above $0.62 could drive further demand, potentially pushing the price toward $0.74 and eventually $1.
Optimism is growing among analysts, with one on X predicting significant gains in the near future. The analyst pointed out that XRP is breaking through both local resistance and a multi-year resistance trend line. They highlighted that XRP has recently emerged from a “massive, 2,351-day resistance trend,” suggesting the potential for a substantial price increase.
XRP Could Soar to $150: Analyst Predicts Over 21,000% Surge
XRP’s recent performance has been notable, particularly following its bounce from a low of $0.16 in 2021 to over $3.20 at its peak. The breakout from the bull flag pattern, anchored at these key swing points, is seen as a critical indicator. According to the analyst, XRP might be on the verge of substantial gains, potentially reaching $150, which would represent an astounding increase of over 21,000% from current levels.
Key Factor: Outcome of Ripple vs. SEC Case
The future price trajectory of XRP may hinge on the outcome of the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC). Despite a partial victory in July 2023, the SEC is pushing for a substantial $2 billion penalty against Ripple. Ripple’s legal team argues that XRP should not be classified as an unregistered security, countering the SEC’s claims of regulatory overreach and alleged stifling of crypto innovation.
At the recent Bitcoin conference, former President Donald Trump suggested that, if elected, he would replace Gary Gensler, the current SEC Chair, and aim to position the U.S. as a leader in cryptocurrency, potentially even establishing a Bitcoin reserve.
Ripple CEO Brad Garlinghouse has been vocal in his criticism of the SEC, accusing the agency of pursuing a “political agenda” and acting in bad faith after it requested the court to reconsider its classification of several altcoins, including ADA and SOL, as unregistered securities.
