Analysis

XRP Price Could Climb by 42.2% Soon, Bulls Prepare for Rally

XRP Price could climb 42.2% and pass the $1.00 mark in the coming days. As XRP bulls and mega whales continue to return, the digital token’s future is looking up. 

XRP is the sixth-largest cryptocurrency in the world. Despite the SEC’s lawsuit in December of 2020, the coin has shown massive progress and resistance despite it all. Since its latest local low at the end of January 2022, XRP price has recovered by a lot and even almost passed the elusive $1.00 level immediately after falling just above $0.55.

XRP Price Could Climb by 42.2% Soon, Bulls Prepare for Rally
XRP price finds the bulls’ support, poised to attempt recovery.

As of writing, the digital token is trading at $0.70. While XRP is currently in the negative, the recent sentiments in favor of the coin are rising. Investors seem to ignore the unresolved lawsuit Ripple is facing. And several analysts predict that the coin will soon reach $1.00 again. 

XRP price may have been stalled from growing with the wider crypto market in 2021, but this isn’t solely due to the SEC v. Ripple lawsuit developments. Since it was barred from several crypto exchanges, the growth of the token has been hampered. Regardless, XRP showed unprecedented strength and recovery.

XRP Price Could Climb by 42.2% Soon, Bulls Prepare for Rally
The SEC v. Ripple lawsuit in a standstill, XRP too.

With the lawsuit progressing and the opening of key documents, Ripple’s chances for victory are higher than ever. The latest documents uncovered revealed key evidence that supports Ripple’s defense. However, the SEC still alleges that Ripple’s Lab’s top executives knowingly sold XRP as an unregistered digital asset. 

Right now, XRP’s recovery seems to hinge on the outcome of the lawsuit. If the court rules in favor of Ripple, it will set a positive precedent for the entire cryptocurrency market. This win will likely trigger a massive bull rally and propel the digital asset to new highs. Ripple CEO Brad Garlinghouse also expressed the idea of the company going public in the near future.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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