Pundit Predicts XRP Price Could Surge 35,000% Based on Two Key Developments
In a bold prediction that has captured the attention of the crypto community, popular analyst Ripple Pundit forecasted that the price of XRP could experience a massive surge of over 35,000%. According to the analyst, this extraordinary price movement hinges on two crucial events related to Ripple Labs’ ongoing developments and legal proceedings.
Two Critical Catalysts for XRP’s Potential Boom
Ripple Pundit outlined the simultaneous occurrence of two key factors as triggers for this monumental price increase:
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Ripple Securing a National Banking License: Ripple Labs has submitted an application to the Office of the Comptroller of the Currency (OCC) for a national banking license. The announcement of this license being granted and made public is expected to significantly expand Ripple’s operational capabilities, enabling the firm to broaden its suite of financial services. Given XRP’s integral role in Ripple’s payment infrastructure, enhanced institutional adoption and onboarding of new clients could follow, propelling demand for the cryptocurrency.
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The SEC Dropping Its Appeal in the Lawsuit Against Ripple: After a lengthy and high-profile legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has already decided to drop its cross-appeal. The only remaining hurdle is for the SEC to also abandon its appeal. A resolution ending this uncertainty would eliminate significant regulatory risk that has long weighed on XRP’s price, potentially unlocking substantial investor confidence and price appreciation.
Industry Voices Echo Optimism
Vincent Van Code, another well-known crypto pundit, has expressed similar enthusiasm for the impact of a Ripple banking license, forecasting a price rally for XRP possibly reaching between $30 to $50. Additionally, Ripple CEO Brad Garlinghouse has publicly reiterated his commitment to XRP, emphasizing its pivotal role in the company’s future strategies with statements hinting at a 1,000% increase in focus or investment.
Technical Analysis Points to a Brewing Upside
From a technical standpoint, crypto analyst CasiTrades recently highlighted that XRP’s next upward wave could begin from the $2.23 price level, noting that recent consolidation phases have demonstrated underlying strength. The ripple bank charter application news provided timely momentum, helping to break through resistance around $2.25. Currently, XRP faces resistance at approximately $2.268, which correlates to the .382 Fibonacci retracement level of the local price wave. According to CasiTrades, this rejection suggests the need for a minor pullback, possibly towards the .236 retracement level near $2.235, before the next significant rally. Multiple internal subwave targets cluster around this area, presenting an optimal entry point for traders positioning for an upside move.
XRP’s Present Situation
At the time of writing, XRP is trading near $2.22, having slipped slightly within the past 24 hours, per data from CoinMarketCap. While the price remains volatile, the awaited regulatory clearance combined with Ripple’s strategic expansion through a banking license remain key factors that could drastically transform XRP’s market trajectory.
Summary
The convergence of Ripple obtaining a national banking license and the SEC dropping its appeal has the potential to trigger a historic rally in the XRP price, possibly by as much as 35,000%. This prediction is supported both by fundamental developments and technical indicators that suggest a strategic consolidation before a major upward movement. Crypto enthusiasts and investors are watching closely as these critical events unfold, poised for what could be the next defining chapter in XRP’s story.