XRP Could Reach $22 In Next Bull Run, Crypto Founder Says

Patrick L. Riley, the founder of Reaper Ascencion Index Ark Institute, shared his optimistic outlook on XRP in a recent interview with crypto analyst Zach Rector. He said that XRP has the potential to hit a new all-time high of $22 or more in the next bull cycle.

Riley based his prediction on the ongoing development and adoption of the XRP Ledger, which he said will boost the token’s value. He also cited the integration of EVM side chains to XRP, enabling more projects to migrate from Ethereum to XRP and enjoy its fast and cheap transactions.

Riley added that he expects token to stay above $10 in the next bear market and eventually surpass Bitcoin as the leading cryptocurrency in the long run. He argued that Ripple has more utility than Bitcoin and that Ethereum faces challenges that will make investors switch to token.

XRP Still Recovering From SEC Lawsuit

XRP is currently trading at $0.6165, according to CoinMarketCap, far below its all-time high of $2.4 that it reached in 2018. The token’s price and market cap dropped significantly after the SEC filed a lawsuit against Ripple, alleging that Ripple is an unregistered security.

The lawsuit is expected to end next year, and Riley said that XRP’s legal clarity will attract more activity and demand for the token. Ripple is the fifth-largest cryptocurrency by market cap, with a valuation of $33 billion. The token has gained over 73% in the past year.

Related Reading| Coinbase Fights Back Against SEC Lack Of Crypto Guidance

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

Comments (No)

Leave a Reply