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Despite a 20% increase last week, Ripple‘s XRP remained behind the sharp rises seen in Bitcoin (BTC) and many other altcoins, especially memecoins. However, optimism continues among top analysts closely following XRP’s trajectory, with many considering a potential bull run on the table.
Analysts Expect XRP to Exceed $1 Level
Leading analysts, including Dark Defender and Alex Cobb, have shared fundamental technical indicators and price levels that could signal an impending surge for XRP, focusing on current market dynamics. Dark Defender highlighted XRP’s consolidation around a Fibonacci level of $0.64, noting that technical indicators like MACD and Ichimoku suggest further rises.
According to their analyses, XRP’s price could potentially surpass the $1 mark by the beginning of April. Cobb demonstrated this forecast by emphasizing that if XRP successfully breaks through the significant resistance level at $0.63, the altcoin could reach its all-time high.
EGRAG CRYPTO joined the chorus of optimistic projections, outlining a long-term projection for XRP and predicting a significant rise within the next six years, with the potential to exceed $10 by 2030.
Investors Eye Outcome of Ripple-SEC Case
One of the main catalysts that could fuel XRP’s potential rise is the outcome of the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). Ripple achieved several partial legal victories last year, and XRP’s price responded positively to each favorable development. The final court hearing between Ripple and the SEC is scheduled for April 23, 2024, but with both parties potentially extending the process, the legal proceedings could stretch into 2026.
A positive outcome for Ripple from the court could provide clarity on the altcoin’s regulatory status and potentially boost investor confidence and expectations, which would be significant for XRP. Conversely, an adverse result could lead to uncertainty and regulatory issues, reducing expectations for XRP in the short term and pressuring the price.
