An XRP community commentator calls attention to four pivotal events he believes are capable of taking XRP to an audacious $59,873 price.
With claims of XRP being largely undervalued, market watchers and industry pundits have continued to project lofty price targets for when a major price upsurge occurs. However, none has been as audacious as recent projections made by King XRP, an analyst and XRP community member.
In a post on X, the pseudonymous analyst outlined four upcoming events considered significant within the XRP ecosystem and to Ripple, the largest holder of XRP. According to the projections, each of these four events could push XRP to greater heights as they materialize.
$XRP Holders – Keep these Prices on Your Charts!
1- $18.57 (Announcement of Settlement)
2- $257.21 (Bank Partnership & Integration)
3- $3748.34 (Ripple IPO)
4- 59,873.18 (Global CBDC Integration)These are Based On FACTS! #xrp #ripple pic.twitter.com/AnuYXnqVLv
— KingXRP (@MRKingXRP) May 10, 2024
Ripple v. SEC Settlement Announcement
The first event is the announcement of a settlement between Ripple and the U.S. SEC in the ongoing legal battle. It bears mentioning that the age-long lawsuit has moved to the remedies phase, with both parties contending on the penalty to be imposed on Ripple for its violations of securities laws in past XRP sales to institutions.
While the SEC demands nearly $2 billion, with $876 million in civil penalty, Ripple argues that its civil penalty should not be anything more than $10 million. With both parties having filed their necessary documents, the public now awaits the final verdict. Nonetheless, industry pundits believe a settlement could be on the horizon.
Rumors of a settlement prevailed last month, but Ripple’s CLO Stuart Alderoty dismissed them. However, this has not stopped the constant proliferation. XRP King believes XRP could soar to $18.57 if an announcement of a settlement comes up, marking a 3,577% increase from the current price od $0.5049.
Bank Partnership and Integration of XRP
In its earlier days, XRP was often touted as “the banker’s coin” due to its utility as a bridge currency for cross-border banking transactions. Additionally, Ripple’s partnerships with remittance institutions and leading financial giants further increased this sentiment.
However, following the charges the SEC mounted on Ripple in December 2020, multiple regulated financial institutions have decided to steer clear of XRP for fear of handling an asset deemed an unregistered security.
Judge Analisa Torres ruled last July that XRP itself is not a security, but there has not been any noticeable change among these institutions in their treatment of XRP. The only observable change was the relisting of XRP on prominent U.S.-based crypto exchanges upon the ruling.
Nonetheless, some proponents believe these institutions are awaiting the ultimate end of the lawsuit between Ripple and the SEC before handling XRP. Should such integrations occur, Mr. King expects XRP to soar by another 1,285% rate from the $18.57 price to $257.21.
Ripple IPO
The XRP community eagerly awaits an Initial Public Offering (IPO) from Ripple, a move that would make the company a publicly traded one. Discussions surrounding an IPO have intensified in recent times, but Ripple CEO Brad Garlinghouse has confirmed that it might not happen soon.
Prominent XRP community figures such as Eri have also stressed that the Ripple IPO could be delayed. Despite the expected delay, prevailing trends suggest the IPO would indeed happen. Some commentators have projected that the event could further bolster XRP’s price by a fair margin.
To XRP King, the IPO would serve as the springboard for a more substantial XRP rally. He sees XRP skyrocketing from the projected $257.21 price to a three-digit figure of $3,748. This would mark an additional 1,357% increase in the price of XRP.
Global CBDC Integration of XRP
XRP’s appeal in the cross-border payments sector has caught the attention of several leading financial institutions. As a result, it has been positioned as a cryptocurrency that could also help facilitate a more streamlined CBDC experience, especially for transactions involving multiple CBDCs from different countries.
In addition, Ripple has continued to seal partnerships with several regions for their CBDC projects, including Hong Kong, Palau, Montenegro and Bhutan. Notably, Palau’s CBDC project has already entered the phase 2 of the pilot stage, leveraging the XRPL technology.
Due to these developments, industry pundits project a situation where XRP serves as a bridge currency for settlements involving CBDCs. Multiple individuals recommended XRP to the U.S. Federal Reserve for CBDC settlement. Mr King sees XRP surging from $3,748 to $59,873 should it integrates with CBDCs.
While these four events are capable of impacting XRP’s price action positively, it is important to note that these targets set by Mr. King are most likely unfeasible. However, the crypto market can be rather unpredictable. As a result, investors should not consider these price targets as investment advice.
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