Top 3 Reasons XRP Could Surge to $5
Ripple’s XRP token has recently surpassed the $1 mark, marking a significant milestone since November 2021. This achievement comes after facing several challenges in recent years, including a lawsuit from the SEC. The project’s performance has been underwhelming, but things are looking up with this recent surge.
The latest increase in XRP’s value coincided with Bitcoin reaching $99,000, hitting an all-time high of $99,645.39 on November 22, 2024. This upward trend in Bitcoin’s price triggered a positive market-wide rally, impacting XRP as well.
XRP has seen a 0.3% increase in daily charts, a 27.2% rise in weekly charts, a significant 138.9% jump in the 14-day charts, a substantial 180.6% surge over the past month, and an impressive 133% increase since November 2023.
There are three key reasons why XRP could potentially experience further growth:
1. Alternative To The SWIFT System: Ripple’s XRP token is widely used for international transactions. With the potential to provide a blockchain-based alternative to the SWIFT system, XRP’s value could see a significant boost.
2. Settlement of The SEC vs. Ripple Lawsuit: The lawsuit between the SEC and Ripple posed a major obstacle to XRP’s price increase. However, with the lawsuit now resolved, after Ripple paid a $125 million fee earlier this year, the asset is poised for an upward trajectory.
3. Lenient Regulations Under Trump’s Leadership: With the expectation of more relaxed cryptocurrency regulations under Donald Trump’s leadership, market analysts anticipate a positive impact on the market. The appointment of a “crypto czar” by the President-Elect could further fuel a market rally, potentially leading to a surge in XRP’s price.
Please remember that these insights are not financial advice, and decisions regarding investments should be made after conducting thorough research and seeking guidance from a licensed financial advisor.
