Renowned crypto analyst, Ripple Pundit, has recently made an audacious forecast that the XRP price could experience a 35,000% surge. He pointed out two critical developments that need to occur for this altcoin to achieve this impressive milestone.
What Triggers a 35,000% Spike in XRP Price?
In a recent post, Ripple Pundit prophesied that the XRP price would skyrocket by more than 35,000% the day Ripple publicizes their banking license. Additionally, he mentioned that the SEC’s decision to withdraw its appeal will give the altcoin an extra uplift. Ripple has submitted an application for a national banking license to the Office of the Comptroller of the Currency (OCC).
This strategic move is poised to broaden the crypto company’s services, which is a positive sign for the XRP price, given the altcoin’s integral role in Ripple’s payment solutions. Consequently, XRP is set to gain more adoption, particularly from institutional investors, as the crypto firm attracts more clients through this banking license.
Another crypto expert, Vincent Van Code, concurred that a Ripple banking license could significantly influence the XRP price. He recently forecasted that the altcoin could surge to between $30 and $50. It’s also essential to note that Ripple’s Brad Garlinghouse reaffirmed his 1,000% dedication to XRP, illustrating that the altcoin remains a vital component of the company’s future plans.
As Ripple Pundit predicts, an SEC announcement about its decision to abandon its appeal against Ripple in the ongoing lawsuit would further enhance the XRP price. Ripple has already declared its decision to withdraw its cross-appeal. The only remaining step for this protracted legal battle to conclude is for the Commission to also drop its appeal. This would finally eliminate the legal uncertainty that has been hindering the altcoin for quite some time.
The Next Wave For XRP Starts Here
In another post, crypto analyst CasiTrades declared that the next wave for the XRP price begins from the $2.23 level. She asserted that the altcoin has maintained its strength during this consolidation period. The Ripple bank charter application added significant momentum at the perfect time, helping to push XRP above the $2.25 resistance level.
Commenting on the current price action, CasiTrades mentioned that the XRP price is now experiencing resistance at $2.268, which is the .382 retracement of the local wave. This suggests that XRP requires another low before soaring higher. Based on technical indicators, she stated that the next optimal entry is at $2.235. This level is the .236 retracement, where several internal subwave targets are converging.
At the time of writing, the XRP price is trading at approximately $2.22, demonstrating a decline in the last 24 hours, as per data from CoinMarketCap.
