If there’s one cryptocurrency that has stayed at the forefront of change and transformation in the Web3 space, it has to be Ripple (XRP). The token has long been fighting a legal war with the US Securities and Exchange Commission to claim its independence from the shackles of extreme scrutiny. The token is embroiled in a heated war with the SEC, which has been negatively impacting the price of XRP.
However, despite the market friction and occasional skirmishes with the SEC, Ripple has been forging an independent price path of its own. Here are the three critical elements that will help XRP skyrocket in the near future.
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Three Striking Developments Poised To Help XRP Hit Big
#1: Bank Integration
Ripple’s stellar league of alliances and its obsession to strike meaningful partnerships across leading banking verticals are what separates the firm from its contemporaries. Despite the token’s being at war with the SEC, it did not thwart Ripple’s idea to expand its base. The firm has established reputable partnerships with several banking firms, letting them explore the potential of the XRP ledger and the XRP in a holistic manner.
#2: Ripple IPO
Another development that may help Ripple break all its previous records is a potential Ripple IPO. While giving an interview, Brad Garlinghouse shared his opinion about launching a potential Ripple IPO to broaden the firm’s horizons and work base. The Ripple chief shared how the IPO proceedings might be on the cards soon but will gather momentum once Ripple’s case with the SEC officially wraps up. If the IPO proceedings catch pace, it may turn the tables around for XRP.
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#3: Final Verdict
The XRP legal war with the SEC has long been negatively impacting the price of Ripple. The token has constantly worked towards reaching a new price threshold but has always been dragged to lower levels. This has often been spurred by the ongoing SEC-Ripple court updates.
Once the final verdict is out, Ripple may finally soar past normal levels to ascend to a threshold that suits the token’s ability best.
Per CoinMarketcap, the token is currently sitting at $0.49, unable to break through the critical price barriers. The token may spike by 20% to hit $0.59 by the first week of June 2024.
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“The price of XRP may rise by 20.80% and reach $ 0.597949 by June 12, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 57 (Greed). XRP recorded 13/30 (43%) green days with 3.11% price volatility over the last 30 days.”