Along with the rest of the market, Ripple’s XRP witnessed a notable uptick. The asset jumped from a low of $0.5382 to a high of $0.5636. At press time, the altcoin was trading at $0.5596 after rising by nearly 4% over the past 24 hours.
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Factors Influencing XRP’s Potential Surge
Several announcements made at the Ripple Swell event were connected to the most recent uptick. The appeal process and timing of the Securities & Exchange Commission (SEC) and Ripple case had a prominent influence on the cryptocurrency market and clearly impacted the asset’s price.
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Can XRP Move Beyond $1 In The Next 6 to 12 Months?
The next couple of months are expected to be bullish for the entire cryptocurrency market. Focusing on XRP, Ash Crypto, a prominent cryptocurrency analyst, revealed that the altcoin could climb high. He anticipates that by the following year, XRP will trade between $3 and $5.
The predicted range is certainly bullish for the altcoin and its investors. A rise to the $3 mark corresponds to a 460% gain or a 5X return on investment. The asset hit an all-time high of $3.84 back in 2018. As a result, a rise beyond this could register a new peak for the altcoin. However, if XRP surges to $5, it would indicate a more significant 834% increase over the current price.
It looks like Ash Crypto wasn’t the only one who believed XRP could move beyond $3 in these coming months. Crypto trader Myles G predicted last month that XRP will be worth $3 by Christmas. While a spike of this magnitude seems impossible, the volatile market could do wonders.
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