TL;DR
- XRP’s price increased to $0.62, with predictions of reaching up to $1.40 in the short term due to a potential bull run.
- Factors contributing to the asset’s possible rise include the potential resolution of the ongoing lawsuit between Ripple and the US SEC, with the trial scheduled for April 23.
Ripple’s XRP is one of the many cryptocurrencies that have experienced a price increase today (March 21). Its value briefly surged to $0.62 before slightly retracing to its current level of $0.61 (per CoinGecko’s data).
Multiple analysts believe this is just the beginning of a major bull run that could take the asset to multi-year highs in the near future.
One example is the X user Dark Defender, who suggested that XRP might reach the $1 target in April due to hitting previously depicted resistance zones.
“Based on the structure below, XRP will maintain this level and proceed with the targets, which I expect to happen in April,” the analyst maintained.
EGRAG CRYPTO also chipped in, claiming the Fibonacci 0.5 level “has held us so far,” adding that the bulls seem ready to make a significant move. The analyst believes those conditions can trigger a price spike of around $1.40 next month.
One factor possibly contributing to XRP’s spike in the future is further adoption. Recall that earlier this week, the leading cryptocurrency exchanges BitMEX and Atlantis Exchange introduced trading services with the token.
Other companies that re-listed XRP in the past several months are Gemini, Coinbase, Kraken, Crypto.com, Bitstamp, and many more.
Another element, and perhaps the most obvious one, is the resolution of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). The trial is scheduled for April 23 as the parties recently filed a joint letter seeking the magistrates’ approval “to govern sealing issues relating to the upcoming remedies-related briefing.”
Those willing to check additional signs hinting that XRP’s price might be on the verge of explosion throughout 2024, feel free to watch our video below:
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