- One analyst claims that buying XRP is like buying Bitcoin back when it was $1,000 and boldly predicts that the token will surge by 6,000% as CBDCs take root and the gold standard makes a comeback.
- The token’s future is still heavily reliant on the outcome of the SEC lawsuit, with the agency currently caught up in a battle over whether some of Ripple’s financial records should be sealed.
XRP has yet to experience the record-breaking spikes that most cryptos saw earlier this year. However, analysts remain bullish on the crypto, with one predicting a 60x surge in the long term and a $1 breakout in the near future.
XRP trades at $0.5232, gaining 0.38% in the past day. This is in line with the performance of most cryptos, which recorded slight gains after a tough week.
In the past day, the token set an intra-day high of $0.5257 before dipping to a low of $0.5162. It has been on an uptrend since then as it heads into the weekend, despite a 12% dip in trading volume. The number of unique addresses active as senders also dipped from Thursday’s peak of 9,100, while the number of executed transactions also dropped from Thursday’s 768,000.
Popular YouTube analyst Levi believes that XRP’s upside is still massive, and in his latest video, he called on investors to seize the opportunity. The analyst, who has nearly 100,000 subscribers, stated:
Buying XRP today is like buying Bitcoin at $1,000.
Citing Ripple CEO Brad Garlinghouse, Levi says that some of the early Bitcoin developers were also behind the XRP Ledger and that, with it, they created a superior blockchain to Bitcoin.
The tsunami wave is about to hit full force, and you guys are not ready for that.
The analyst believes that XRP will hit $1 in the short term, which would be a 91% rise from its current price. However, as XRPL begins to underpin some critical financial infrastructure, such as CBDCs, the token’s price will appreciate massively. The global financial upheavals are also playing right into XRP’s card, and with more countries exploring going back to the gold standard, XRPL could have a significant role to play in this tokenization drive.
Ripple vs. the SEC—What Happens to XRP?
Any analysis of the XRP price is incomplete if it doesn’t encompass the Ripple vs. SEC legal battle. As Crypto News Flash reported, Ripple’s latest filing supports its motion to seal some of the sensitive documents detailing its financial and operational dynamics.
In the filing this week, the Ripple legal team argued that despite being old, some of the documents contain trade secrets and partnership agreements that could cost the company millions of dollars if they leaked.
The lawsuit is edging closer to its end. While the SEC is keen on getting close to $2 billion from Ripple, the company is pushing for a slap on the wrist with a proposed $10 million fine.
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