Common Sense Crypto created a video to address concerns about why the price of XRP has not been spiking despite the win against the Securities and Exchange Commission.
At the time of the video, the price of Ripple’s XRP was sitting at $0.58 with no significant price movement. This has raised various questions among people, especially because XRP is still trading under $1.
Many people believed there would be a major breakout and continued rally as soon as the judge declared Ripple the winner, but the spike that followed the news did not last long.
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Factors That Can Affect XRP Price
The analyst discussed various factors that can affect the price of XRP and how these factors could help the price grow in the long term.
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Show more +He discussed the Ripple IPO and the launch of RLUSD, mentioning that they will affect the token’s price and make it move.
Also, there have been various speculations about an upcoming alt season, and since there are no cases that could stop the price of XRP again, the analyst thinks XRP would pump at such a time.
The speaker sees XRP spiking to an all-time high during the altcoin season, after which he expects XRP utility and upcoming features to keep the price up.
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XRP Price Predictions and Expectations
The crypto analyst spoke about some analysts’ views and predictions. He noted that many expect a price spike to $8 by the end of the year.
They also think it could reach $1 at the end of August. However, the crypto analyst mentioned that no one is sure of what is going to happen, but he is certain we are going to experience an alt season.
The analysts also say that institutions will start to accumulate more XRP soon, which will make it scarcer and potentially increase its value.
Japanese banks and institutions like SBI Ripple Asia are leading the way in using XRP for cross-border payments. This growing utility is expected to drive price increases in the future.
Another factor expected to spike the price is having the right regulations in place. The analyst also thinks clearer regulation can increase the adoption of XRP and drive up the price. That’s when he thinks the “flip of the switch” moment will happen.
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