The XRP price has risen dramatically in recent days, approaching $0.60. Nonetheless, rises in XRP Coin were lower than the other two major cryptocurrencies, Bitcoin and Ethereum. Can the XRP price reach $10 in an extreme bull run?
The XRP price has risen dramatically during the previous seven days. The XRP Coin increased in value by more than 3%. In the recent 24 hours, it was even more than 6%. The price was therefore able to gain from the recent increases in the Bitcoin price.
Since the beginning of February, the XRP value has risen rapidly. The price increased from 0.49 to 0.59 dollars. Following weeks of losses, the XRP Coin was able to surge significantly again.
Why were the XRP Profits so low previously?
In contrast to Bitcoin and several other altcoins such as Solana, Avalanche, and Ethereum, the XRP rate has not been able to increase much in 2024. The explanation is obvious: the legal conflict with the SEC is ongoing. Last year, Ripple was able to breathe a little easier because only the selling of the token to institutions, not regular investors, had breached securities legislation.
In recent weeks, Ripple has had to produce more documentation to give clarity on the topic of institutional trade. These developments hampered the price advances in January. Trust in the XRP token is not especially strong.
Can the XRP price still reach 10 dollars?
However, the disagreements may have the effect of making the XRP coin appear to be particularly cheap right now. As a result, the XRP price might climb very quickly during a parabolic bull run. Then legal issues arise, and new investors merely want to profit from the worries.
The XRP Coin is ideal for generating intense FOMO. As an alternative payment method within the existing banking system, its concept has the potential to attract a large number of new investors. Furthermore, it appears more serious than many memecoins, which should only reap gains during exceptionally strong periods.
The mainstream should become more aware of the crypto industry, especially as the Bitcoin price rises to new all-time highs. This might cause the XRP price to erupt. A new all-time high of more than 3.80 dollars might be achieved. In a very optimistic scenario, a rise of ten dollars is also imaginable.
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