The host of the ‘Discover Crypto’ YouTube channel has boldly claimed that the XRP price could surge by 1000% from its current price range. He highlighted the Securities and Exchange Commission’s (SEC) case against Ripple as one of the factors that could spark this price surge.
XRP Price Could Do A 10X When Ripple And SEC Settle
In a video posted on the YouTube channel, the analyst suggested that XRP would rise significantly once Ripple and the SEC finally settled. He described this long-running legal battle between both parties as a “black cloud” that has continued to cause uncertainty in the XRP market.
He further noted how investors strongly dislike uncertainty, which could explain why they have continued to trade with caution rather than doubling down on their XRP investments. Meanwhile, the ‘Discover Crypto’ host believes that irrespective of how much Ripple ends up being fined, a settlement will no doubt be ‘positive news’ and the trigger for the price surge.
The crypto analyst went on to break down four other reasons why he believes that XRP’s price could surge by 1000%. First, he stated that a Ripple Initial Public Offering (IPO) could also trigger a significant rally for XRP. This price pump, he claims, will be facilitated by market makers and whales who would want to create a positive sentiment around the IPO launch.
To back up this point, he alleged that the biggest move for Bitcoin in 2021 wasn’t as a result of Bitcoin Halving or any market cycle but because of the Coinbase IPO. These same market makers are said to have pumped the flagship crypto’s price then.
Token price at $0.53 | Source: XRPUSD on Tradingview.com
Other Factors That Could Spark XRP’s Parabolic Move
The crypto analyst outlined crypto legislation as the third reason why XRP could rise exponentially from its current price levels. While admitting that the entire crypto market will benefit from this, he expects XRP to be one of the tokens that enjoy the most gains from this development.
Institutional adoption is also predicted to be another catalyst in XRP’s parabolic move. The ‘Discover Crypto’ host noted how the Spot Bitcoin ETFs have opened the doors to mainstream adoption. As such, he expects that more entities will want to add crypto tokens like XRP to their portfolio alongside their Bitcoin exposure.
The fifth factor that could spark the 1000% rally for XRP is the Bitcoin Halving. The crypto analyst predicts that all crypto tokens, including XRP, are going to pump post-halving. As such, he believes that buying XRP at $0.50 now is definitely a steal.
Featured image from Crypto News, chart from Tradingview.com
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