With its increase towards the end of 2024, the XRP, which has risen to its third largest crypto currency in terms of market value, is curious about how to follow the performance in the near future. In addition to the ongoing legal struggle of XRP since the past, the possibility of an increase in the adoption of institutions has blossomed their hopes for the future.
Ripple’s report last week, the report of the XRP’s 280 percent value in the last quarter of 2024 was discussed. The uncertainty in the market decreased with the winnings of the US presidential elections Donald Trump, while the Signals that the US Federal Reserve will end the financial tightening policy of the US said that it would “cause a large wave of rise”.
“The manipulative effect of SEC has decreased”
“Ripple began to reach the real value of XRP with the decrease in the manipulative effect of SEC’s manipulative impact on the market”.
As a matter of fact, in 2020, the SEC filed a lawsuit on the grounds that the Ripple company made unregistered sales, claiming that XRP was a securities. However, in 2023, the Court decided that the sales of XRP to individual investors were not securities and eliminated great uncertainty. On January 15, the Commission applied for appeal against Ripple.
“A great opportunity for the new US government XRP”
In the report, this was described as a repetition of the allegations that have failed before ”. The report emphasized that “Ripple expects a more fair regulation environment with the new SEC administration”: “The new US government adopts a more innovative and supportive approach to crypto currencies, XRP and generally offers a great opportunity for the crypto market. “
“Approval of ETFs can have a big impact on the price”
Ripple’s report also extensively the increasing interest of institutions in XRP. XRP’s Stock Exchange Investment Fund (ETF) reported that the applications made to be released in the report, “The XRP market has a major growth potential in the coming period. In particular, the approval of XRP -based ETFs can have a major impact on the price ”. As a matter of fact, for the ETF product of XRP, it is known that exporting companies Wisdomree and Coinshares, Bitwise, Canary Capital and 21shares are waiting for the next time. In a statement made by the banking giant JPMorgan on the subject, the XRP envisages the accumulation of $ 4 to 8 billion dollars through ETF products.
XRP’s loyal investor mass
Mike Novogratz, CEO of the Digital Asset Management Company Galaxy Digital, shared some opinions in a Youtube program that he participated in the previous day with the optimistic painting in Ripple’s report. Noting that XRP is a loyal community, Novogratz said, “When I made a negative comment on XRP, I got an incredible reaction on social media. Such communities are much more effective in crypto pricing than they thought. ”
Target in the short term 5.85 dollars
Although the price of the last quarter of last year made a full rise in the price, the expectations of many investors from XRP are much larger. As Novogratz emphasizes, XRP investors have desired to reach new peaks for a long time, including crypto winter. Crypto analyst Dark Defender, who made evaluations about XRP’s price graph, shared his predictions. According to the analyst, the XRP price cycle is currently in the fourth wave, the price target in the fifth wave is 5.85 dollars, he said.
Analyst said that in June 2024, XRP has applied the same formation since it was priced between 40 and 50 cents. According to the formation in question, the price of XRP is likely to see $ 18.22.
The crypto analyst XFORCEGLOBAL, who defended an optimistic view of the XRP price, emphasized the “fifth wave ında in the price cycle. Analyst claimed that the expected price correction of the XRP took place and claimed that the final price target would be between 5 and 10 dollars.
XRP, which received its share of the volatil environment in the crypto market, which follows a downward momentum with concerns caused by trade wars in global markets, lost 20 percent in the last week. The market value of the XRP, which is traded for $ 2.46 as a news, is $ 141 billion.
