The XRP token by Ripple has experienced a significant decline in the weekly charts, registering a drop of more than 9.1%. Additionally, it has seen a nearly 7% decrease over the past month. Nevertheless, XRP maintains a positive trajectory, having surged by 65.5% since January 2023. Despite the recent correction, analyst Egrar Crypto is optimistic about the potential for a 40x rally.
Drawing parallels with the previous cycle, where XRP experienced a 20x surge amid a legal battle with the US SEC (Securities and Exchange Commission), Egrar Crypto suggests that, given improved legal clarity, XRP could potentially achieve a 40x or 50x rally this time.
Achieving a 40x increase from its present value would propel XRP’s price to approximately $11, marking a remarkable growth of over 1800%. Conversely, a 50x surge would elevate the token to $14, reflecting an extraordinary expansion of more than 2350% from its current levels.
Assessing the Road to $11 and $14 for Ripple
XRP continues to grapple with regulatory uncertainties, notably as the SEC vs. Ripple lawsuit progresses to the high court. The asset’s potential for a significant price surge hinges on the outcome of this high court ruling. While a district court previously ruled in Ripple’s favor, stating that selling XRP to retail clients did not violate securities laws, there is a possibility that the high court could adopt a similar stance. Such a development might trigger a sudden upswing in XRP’s price.
According to Changelly, it is unlikely for XRP to surpass $11 until at least 2031. Additionally, the platform envisions a potential rise to $14 between 2031 and 2032. Telegaon shares a comparable outlook, projecting XRP to reach $10 in 2030 and potentially achieve $11 and $14 between 2030 and 2035. Nevertheless, if a bull run reminiscent of 2021 unfolds this year, there’s a chance that Ripple’s XRP could reach new highs sooner than previously predicted.