TL;DR
Despite surging by 20% in a week, Ripple’s XRP still can’t compete with the recent gains recorded by Bitcoin (BTC) and many altcoins, particularly meme coins. Nonetheless, some of the top analysts who observe the asset’s trajectory on a daily basis remain certain that a bull run could be on the horizon.
The X user Dark Defender claimed that XRP has been “strolling strictly” around the Fibonacci level of approximately $0.64, while important indicators like MACD (Moving Average Convergence Divergence) and Ichimoku suggest a further uptick. According to the analyst’s latest prediction, the token’s valuation might surpass the $1 mark by the beginning of April.
Alex Cobb chipped in, too, arguing that XRP could explode to an all-time high in the upcoming months should it surpass the key resistance level of around $0.63. Recall that the asset exceeded that zone a few hours ago and is currently hovering at $0.65 (per CoinGecko’s data).
EGRAG CRYPTO also gave their two cents, outlining a long-term forecast. According to the analyst, XRP is poised for a substantial upswing in the next six years, possibly surging above $10 by 2030.
Perhaps the most obvious factor that could trigger a bull run for XRP is the outcome of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). The company currently has the upper hand, securing three vital partial court victories last year, with its token positively reacting after each one.
The trial between the entities is scheduled for April 23, 2024, but this doesn’t necessarily mean that the legal battle will be over this year. ChatGPT recently estimated that potential delays from both sides could delay the outcome until 2026.
Those willing to find out what important signs suggest XRP is ready to explode in 2024, please take a look at our dedicated video below:
