Ripple’s XRP price continues to be the focus of the cryptocurrency world with the expectation of a rally following partial regulatory clarity from court outcomes. The altcoin is currently moving in harmony with the overall market rally, yet there is widespread expectation that XRP is ready to rise even further.
Two Short-Term Scenarios Stand Out for XRP
<a href="https://en.coin-turk.com/crypto-market-could-collapse-if-financial-trend-materializes-analyst-claims/”>Cryptocurrency analyst AlanSantana, in a December 1 TradingView post, claimed that XRP could face a potential 120% rally in the next six months following rally expectations. The analyst’s analysis is based on two bearish scenarios that could challenge XRP to new highs, following the court’s declaration in July that the token is not a security in the Ripple and U.S. Securities and Exchange Commission (SEC) case.
According to the analyst’s analysis, if XRP drops to around $0.51, the altcoin could rally by approximately 85% over the next six months. However, if XRP drops to even lower levels, around $0.43, the altcoin could potentially make an even more significant rally, reaching up to 120%.
Detailing the two different scenarios he presented, the analyst said, “It can also rise from here because it has reached higher levels and there is a pullback, but generally, it could rise by about 50% more than what we see today, or if one of these bearish scenarios happens, it could rise by 85% (blue) to 120% (red).”
Analyst Expects XRP to 7x in the Medium-Long Term
Looking beyond short-term predictions, AlanSantana, based on past calculations, suggested that the long-term potential price could rise to around $5. However, he also warned that predicting future prices becomes complicated during a super cycle, stating “It’s a result of past calculations, but around $5 can be expected. If we enter a super cycle, impossible things can happen. But expect to see more from XRP than you can think or predict; its future is bright.” The analyst’s forecast corresponds to a 7-fold increase in the altcoin at current prices, which is quite remarkable.
At the same time, the analyst emphasized that XRP has potential for growth even when Bitcoin (BTC) corrects, pointing to its tendency to move independently of the general trends in the cryptocurrency market.
On the other hand, although regulatory clarity has been achieved in the SEC’s case against Ripple, a shadow continues to hang over XRP. There were expectations of a significant rally following the court’s approval, but a rally as anticipated has not yet occurred. Ripple supporter lawyer Bill Morgan commented on the strange price movements of XRP after gaining regulatory clarity, suggesting that the SEC’s legal battle against Ripple has hindered XRP’s momentum against its peers.
Nevertheless, speculation began that the case could potentially be resolved following the SEC’s closed meeting with Ripple on November 30th to discuss major issues, including resolving the claims in the case. This situation fueled speculation about a potential settlement with Ripple that could emerge soon.
