Markets
Six Reasons Why XRP Price Is Expected To Rise Significantly: Market Watcher
Market observer Zach Rector outlines six reasons why XRP is poised for a bigger price increase in the coming weeks.
XRP and the broader cryptocurrency market have entered a corrective phase in recent days. As a result, XRP is currently trading below the psychological threshold of $0.6. In mid-July, XRP caused a significant feeling in the cryptocurrency market when it reached $0.6366, its highest value since April.
Although the asset has lost a fraction of its gains, prominent market observers like Zach Rector have reasons It seems that more pumps are on the way. In an analysis conducted today, Rector identified six key reasons supporting a bullish outlook for XRP.
Six Reasons Why XRP Will Skyrocket
At the top of the list is the conclusion of the nearly four-year-old Ripple lawsuit, which Rector has stressed is imminent. This prospect is inspired by comments from Ripple CEO Brad Garlinghouse. In a television interview last week, Garlinghouse disclosed that a resolution is underway “very soon.”
Accordingly, the rector urged XRP enthusiasts to prepare for the development, recalling the scenario that unfolded after the July 2023 decision that XRP is not a security. In particular, the price of XRP has doubled within 24 hours, approaching $1.
Second, the rector indicated that Ripple will be able to provide its XRP based payment solution to U.S. customers following the lawsuit. He believes this could be a significant bullish catalyst for XRP as it potentially increases its adoption.
Third, he referred to the imminent launch of Ripple’s RLUSD stablecoinwhich will launch on the XRP Ledger and Ethereum blockchains. He stressed that the stablecoin will bring a new wave of liquidity into the XRPL ecosystem.
Notably, Ripple executives, including its CEO and CTO David Schwartz, have reiterated that the arrival of RLUSD is beneficial for XRP.
In addition, the rector highlighted the expected arrival of XRP ETF as another bullish catalyst to keep in mind. He noted that they are already living in Europe and will soon be in the United States. According to him, multiple XRP ETFs will bring in a lot of liquidity, driving up the value of XRP.
At the same time, Rector noted that broader cryptocurrency regulations in the United States could emerge next year after the US elections. The community expert believes that this is a bullish catalyst for the entire space, and Ripple’s compliance-focused mindset positions XRP perfectly.
Inflation as another catalyst for XRP
Finally, Rector noted that there will be more money printing regardless of who is elected president of the United States. Given the inflationary pressure that such action would bring, he urged XRP enthusiasts to “brace themselves” and load up their bags, as the crypto asset could be a safe haven.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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