Top Factors Driving XRP Price To Hit New ATH

Share This Post

A prominent financial expert, Linda Jones recently delved into the intricate dynamics influencing XRP’s market performance in a podcast. Despite the prevailing frustration among investors due to XRP’s lackluster trend, Jones remains optimistic about its future. 

She highlighted five critical factors poised to shape XRP’s trajectory positively.

Firstly, Jones emphasized the significance of the settlement amount between Ripple and the SEC. This unresolved figure, arising from the SEC’s ruling regarding Ripple’s institutional transactions, acts as a key deterrent for potential XRP investors. Once disclosed, this amount could offer clarity and encourage institutional involvement.

Jones also underscored the dependency of Ripple’s IPO plans on the settlement. Ripple CEO Brad Garlinghouse indicated that the IPO hinges on finalizing the settlement and formally closing the lawsuit chapter. Thus, a clear settlement could pave the way for Ripple’s IPO, which might drive advancements in Ripple stock and XRP.

Anticipation surrounding upcoming U.S. crypto legislation forms another pivotal factor in XRP’s valuation. While this legislation may not materialize until 2025, Jones believes it could significantly impact XRP’s value even before its enactment. Such regulations might alter the crypto landscape, potentially favoring utility-based projects like XRP over meme-themed coins.

Institutional adoption also plays a crucial role in XRP’s future trajectory, according to Jones. Despite the potential dependency on legislative developments, institutional engagement, including that of family offices and private wealth entities, could drive significant market traction.

Lastly, Jones highlighted the upcoming Bitcoin halving cycle, a historic event known to catalyze record-breaking highs in the crypto market. This event, characterized by a reduction in Bitcoin rewards and increased scarcity, historically influences market trends, potentially impacting XRP’s future valuation.

XRP Price Analysis

With XRP currently valued at $0.5696, these highlighted factors collectively signal potential shifts in its value, contingent on how these projected events unfold. Sounding similar sentiments on XRP price, the popular crypto analyst Ali Martinez predicts a potential surge in XRP’s price if substantial whale buying continues, foreseeing the altcoin trading above $1 soon. 

Despite being held in a long-term triangle formation since 2018, XRP’s bullish prospects are supported by consistent accumulation trends and Ripple’s efforts to enhance liquidity and trading volume. Despite a notable death cross, the 50 and 200 weekly Moving Averages (MA) have offered robust support, reinforcing the positive outlook for XRP’s future price movement.

Related Posts