- News
- By Mason Carter
- Last updated May 10, 2024
Here’s an interesting prediction – XRP, a popular cryptocurrency, could rise to a staggering $20 by 2026, according to some analysts. Noteworthy is that this big surge is expected despite XRP’s ongoing legal wranglings with the U.S Securities and Exchange Commission (SEC) and Ripple, its creator. Indeed, some forecasters believe the potential is there for XRP to rocket by nearly 650 times its current value.
For a little context, XRP made headlines in 2018 when it reached an all-time high of $3.40, before crashing 84.7% down, struggling ever since to recover its value. It’s been a rollercoaster ride, with a 20% value drop in the past month alone, and a 2.3% plunge in just 24 hours!
Despite these downturns, some remain optimistic about XRP’s future. Analyst Armando Pantoja believes XRP’s value could shoot up to anywhere between $8-$20 by 2026, drawing from the 2017 bull market when XRP increased 650-fold in value. That said, it’s important to remember the whimsical nature of the crypto market – prices can take a nosedive or skyrocket with no warning, so take all predictions with a grain of salt.
A major factor in how XRP performs will be the outcome of Ripple’s legal fight with the SEC. Negative consequences could hinder XRP’s growth, making it a risky short-term investment. However, there’s a flip side – if Ripple wins, XRP could become more popular and widely accepted, leading to its value increasing.
Predicting XRP’s surge despite legal challenges
Interestingly, some analysts are bullish due to XRP’s potential to revolutionize the global remittance sector.
Adding to this optimism is the increasing adoption of XRP by well-respected financial institutions. Powerhouses like the Bank of America and the Royal Bank of Canada have made use of Ripple’s technology, and Ripple’s recent partnerships in Japan and Asia offer more reasons to be hopeful. Continued improvements to the XRP Ledger by Ripple’s tech division, RippleX, also add to its appeal.
However, Ripple has its issues. The company is embroiled in a legal dispute with the SEC, who suggest a $2 billion fine for supposed sales violations involving XRP. Ripple, for its part, disputes these charges and has proposed a lesser fine of less than $10 million. The outcome of this dispute could significantly influence XRP’s future trends and will be watched closely by crypto enthusiasts.
Technical analysis suggests continued downward pressure for XRP in the short term, with potential lows near $0.48. But, mid-term expectations remain bullish thanks to signs of robust network growth. It is crucial that traders pay close attention to these indicators – and remember that the only certainty in the crypto market is its volatility.
Mason Carter
Mason Carter is a sharp-witted venture capital and startup analyst whose columns provide cutting-edge insights into the world of entrepreneurship and investment.
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