Despite recent market fluctuations, many coins are performing strongly, including XRP, which reached a two-month high. According to many, this is just the beginning of a major upward trend. For example, crypto analyst Lucky suggests that XRP could approach $10 sooner than expected.
Analyst Lucky shared his prediction on X, the former Twitter. The analyst indicates that Ripple has lost as much as $200 million in the legal battle with the US Securities and Exchange Commission (SEC). Nevertheless, the team is showing resilience and is building new integrations and the project is entering into interesting partnerships.
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Been observing @Ripple‘s operations since the SEC win in July, I can’t help but applaud the team for staying focused in their commitment to the $XRP community.
Few projects recover from such a drawn-out legal battle that cost them $200 million, but we’ve seen the Ripple team… pic.twitter.com/3uVbFinpj9
— Lucky (@LLuciano_BTC) October 26, 2023
Developments on the Ripple network
Lucky points out some key developments that could significantly strengthen the Ripple platform. One of these is the collaboration with Uphold, a platform that simplifies transactions between fiat and cryptocurrencies. This collaboration focuses on the integration of Uphold’s crypto liquidity capabilities with Ripple’s cross-border payment infrastructure.
In addition, there is upcoming support for non-fungible tokens (NFTs) on the Ripple network, initiated by financial services provider SBI Holdings. This addition has the potential to create a massive influx of users, which could benefit the XRP price in the long term.
Meanwhile, the Xumm wallet, specifically designed for the XRP Ledger (XRPL), is celebrating reaching 600,000 active users. With ambitions for further expansion and improvements, including increasing user-friendliness and adding decentralized exchange functionalities, Xumm is positioned to drive and support a growing number of users to Ripple.
XRP price prediction
The analyst suggests that thanks to these developments, a $1 or even $10 valuation for XRP could be reached sooner than initially expected. Some go a step further and predict a price increase to $30 by 2025. This would represent an impressive 5,350% increase from the current price.
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2023-10-29 15:43:39
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