Analyst Predicts XRP Could Reach $100 Amid Positive Developments
Crypto analyst Andrei Jikh predicts that XRP could reach $100, citing factors such as the potential end of the SEC lawsuit, major adoption by Japanese banks, and the prospective approval of XRP ETFs as contributing elements to this bullish outlook.
A prominent cryptocurrency analyst, Andrei Jikh, has reignited enthusiasm within the XRP community by predicting that the price of XRP may surge to $100. Citing several key factors that could facilitate this increase, Jikh elaborated in a recent YouTube analysis that market dynamics are shifting favorably.
Foremost among these factors is the potential conclusion of the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). Jikh highlighted that the SEC has removed the Ripple case from its website, indicating a possible alleviation of legal challenges. Additionally, an agreement to pause Binance’s legal issues with the SEC has created a positive outlook regarding the resolution of Ripple’s lawsuit.
Moreover, Jikh referenced a Nasdaq report indicating that 80% of Japanese banks plan to adopt XRP for international transactions. He expressed confidence that this substantial adoption by Japan’s vast banking network would catalyze a notable increase in XRP’s value.
The potential approval of XRP exchange-traded funds (ETFs) has also been spotlighted as a significant contributor to the projected price increase. Drawing parallels to Bitcoin, which saw price surges following ETF approvals, Jikh believes XRP could experience a similar fate.
Additionally, Jikh discussed the possibility of Ripple’s payment technology replacing the SWIFT system, emphasizing the vast size of the global payment industry. This would significantly enhance XRP’s utility and demand, constituting another pillar that could support the anticipated price rally.
Additional factors include the capabilities of the XRP Ledger (XRPL) and the Real USD (RLUSD) stablecoin. Jikh noted that the XRPL processes approximately 1,500 transactions per second. This efficiency positions it favorably for asset tokenization, further boosting XRP’s appeal.
Furthermore, the potential appointment of Ripple CEO Brad Garlinghouse to the White House Crypto Advisory Council is deemed another positive signal for XRP. His involvement could enhance Ripple’s influence, especially concerning any U.S. sovereign wealth fund initiatives related to cryptocurrencies. Currently, XRP is trading at around $2.55, reflecting a more than 4% increase in value over the past 24 hours, according to CoinMarketCap.
In summary, the bullish sentiment surrounding XRP’s potential surge to $100 is fueled by multiple contributing factors, including the anticipated resolution of the Ripple SEC lawsuit, significant adoption by Japanese banks, and the potential approval of XRP ETFs. Furthermore, Ripple’s technological advancements and strategic leadership posit XRP well for future valuation increases, reinforcing the optimism within the crypto community.
Original Source: news.az
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