- XRP could benefit from a potential bull rally driven by increased interest in Bitcoin.
- Experts forecast significant growth potential for XRP, backed by crypto market momentum.
Cryptocurrency experts have pointed to potential upside momentum for XRP, as reported by Forbes. Billy Bambrough, author of the article, suggests that recent bullish moves in digital assets like XRP could be just the beginning of an even steeper rise.
Crypto Market Analysis
The analysis is based on bold suggestions from prominent market watchers about Bitcoin and its possible effect on XRP. While Bitcoin has risen 100% over the last year, XRP has seen a 35% increase over the same period.
The rise in Bitcoin prices has pushed its market capitalization above $1 trillion, while the market as a whole is getting closer to regaining the $2 trillion mark.
Markus Thielen, head of research at 10x Research, forecast a $57,000 target for Bitcoin, driven by several factors, such as Bitcoin’s upcoming halving in April and increased interest from institutional investors through exchange-traded funds (ETFs).
But forecasting Ripple’s fate may be challenging at this time, but different scenarios can be explored to understand its potential.
In the bullish scenario, XRP could be supported by a growth in its popularity and some favorable legal outcomes. The recent victory in the case against the SEC has generated momentum a positive sentiment with its investors so the price has risen compared to last month.
The resolution of the SEC case in April could be a catalyst for a further increase in the price of XRP. However, long-term stability remains an unknown as the overall state of the cryptocurrency market also exerts its influence.
At the time of this writing, XRP is trading at $0.5358
