The host of the YouTube channel ‘Discover Crypto’ has boldly claimed as much the XRP price could increase by 1000% from the current price range. He emphasized the Securities and Exchange Commission (SEC) case against Ripple as one of the factors that could cause this price increase.
XRP price could reach a 10x when Ripple and SEC settle
In a video posted on the YouTube channel, the analyst suggested that XRP would rise significantly at some point Ripple and the SEC have finally reached an agreement. He described this protracted legal battle between the two sides as a “black cloud” that continues to create uncertainty in the XRP market.
He further noted that investors strongly dislike uncertainty, which could explain why they have continued to trade cautiously rather than doubling down on their XRP investments. Meanwhile, the ‘Discover Crypto’ host believes that no matter how much Ripple is ultimately fineda settlement will undoubtedly be ‘positive news’ and the trigger for the price increase.
The crypto analyst went on to outline four other reasons why he believes the price of XRP could rise by 1000%. Firstly, he stated that a Ripple IPO (IPO) could also spark a significant rally for XRP. This price pump, he claims, will be facilitated by market makers and whales looking to create positive sentiment around the IPO.
To support this point, he claimed that the biggest move for Bitcoin in 2021 was not due to Bitcoin halving or any market cycle for that matter, except for the Coinbase IPO. It is said that the same market makers at the time pumped up the price of the flagship crypto.
Token price at $0.53 | Source: XRPUSD on Tradingview.com
Other factors that could cause XRP’s parabolic movement
The crypto analyst outlined crypto legislation as the third reason why XRP could rise exponentially from its current price level. While he admits that the entire crypto market will benefit from this, he expects that XRP will be one of the tokens that will gain the most from this development.
Institutional adoption is also predicted to be another catalyst in XRP’s parabolic move. The ‘Discover Crypto’ host noted how the Discover Bitcoin ETFs have opened the doors to regular adoption. As such, he expects more entities will want to add crypto tokens like Add XRP to their portfolio in addition to their exposure to Bitcoin.
The fifth factor that could lead to the 1000% rally for XRP is the Bitcoin halving. The crypto analyst predicts that all crypto tokens, including XRP, will start pumping after the halving. As such, he believes that buying XRP at $0.50 is definitely a bargain right now.
Featured image from Crypto News, chart from Tradingview.com
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