XRP Surges 15.57% Amid Predictions of $100 Price Target
According to CoinMarketCap, XRP increased by 15.57% in one day and recorded a 60.76% rise over the past week, coinciding with Bitcoin's approach to the $90,000 mark.
XRP To Reach $10 In Bull Market, But There's More
Crypto analyst BarriC shared predictions for XRP on November 15. He forecasts that XRP could reach between $6-$10 during a bull market, suggesting a potential gain of at least 500% from its current price. These expectations stem partly from Donald Trump's recent electoral victory, anticipated to create a crypto-friendly US government.
BarriC highlights that Trump's presidency may significantly impact the ongoing legal battle between Ripple and the SEC, possibly resolving regulatory uncertainties surrounding XRP. Additionally, Trump's administration might facilitate the approval of an XRP spot ETF, which could elevate the token's price to $15-$20 if approved during a market upswing.
Moreover, BarriC anticipates a utility run for XRP, emphasizing its potential for widespread adoption in cross-border transactions and as a bridge currency for banks. If this occurs, he predicts XRP could achieve a minimum price of $100.
Market Whales Boost Holdings By 320 Million XRP
Recently, XRP whales have acquired over 320 million XRP, valued at $285 million, within 72 hours amid the token's price surge. XRP rose from approximately $0.69 to a peak of $0.92, influenced by rumors regarding SEC Chairman Gary Gensler's resignation.
Despite a slight decline of 1.2% in the last hour, the significant whale purchases indicate confidence in XRP's long-term profitability. Currently, XRP trades at $0.89, with a market cap exceeding $50 billion and a trading volume increase of 24.71%, totaling $11.75 billion.
Featured image from StormGain, chart from Tradingview