Ripple’s XRP token is struggling to overcome the $0.55 barrier. The asset has rallied 1.2% in the daily charts and 6.1% over the previous month. However, XRP’s price has fallen by 0.7% in both the weekly and 14-day charts.
Also Read: XRP, Solana, Cardano ETFs Are Inevitable, Ripple’s CEO Asserts
Bitcoin (BTC) is the current market leader, and other assets follow its trajectory. If BTC rallies, other cryptocurrencies will likely follow its lead. The original crypto hit an all-time high of $73,737 in March following the US SEC’s (Securities and Exchange Commission) decision to approve 11 spot BTC ETFs (Exchange Traded Funds).
How high will Ripple’s XRP go if Bitcoin hits $155,000?
According to the AI (Artificial Intelligence) chatbot ChatGPT, if BTC hits $155,000, XRP could surge to a new peak of $4.41. Reaching $4.41 from current levels would translate to a growth of nearly 750%.
Ripple’s XRP token hit an all-time high of $3.40 in January 2018, over six years ago. The asset is currently down by nearly 85% from its 2018 peak.
Also Read: How High Could Ripple XRP Go If It Hits $3 Trillion Market Cap?
However, before jumping to conclusions, it should be noted that one of the most significant barriers to XRP’s price is the ongoing lawsuit between Ripple and the US SEC (Securities and Exchange Commission). The SEC alleges that Ripple participated in the sale of unregistered securities. Last year, a US district court ruled that selling XRP to retail clients did not breach securities laws. However, the lawsuit has entered the high court, and investors await a verdict. If the high court rules similarly to the district court, we may witness a sudden price spike for XRP.
Therefore, Bitcoin (BTC) reaching $155,000 might not be enough for Ripple’s XRP to rally. The asset might need an additional push, such as a positive verdict in the SEC vs. Ripple lawsuit.
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