Ripple (XRP) is currently facing significant challenges as it grapples with ongoing legal troubles with the US Securities and Exchange Commission. The cryptocurrency has experienced a steady decline since its all-time high of $3.40 in 2018, with an 84.7% decrease in value and no signs of regaining its peak value.
In the past 30 days, XRP’s prices have continued to decline, with a decrease of around 20%. Although there was a slight recovery last week, most of the gains were lost, and there has been a 2.3% decrease in the last 24 hours.
Despite this downward trend, one analyst predicts a promising future for XRP. Despite the uncertainties surrounding the SEC case, XRP still holds considerable potential and could recover in the future.
Crypto analyst Armando Pantoja paints an optimistic picture for XRP’s future, forecasting that its value could reach between $8 and $20 by 2026. This represents a significant increase of up to 3,557.6% compared to its current values.
Pantoja explains that this increase could be possible based on historical examples of XRP’s bull run in 2017, which saw a 650-fold increase to its peak. The institutional acceptance of XRP plays a crucial role in determining its future price. Ripple, as the company behind XRP, has already integrated with major financial institutions such as Bank of America and Royal Bank of Canada.
Furthermore, Ripple’s partnerships in Japan with HashKey DX and collaboration with SBI Ripple Asia to offer XRP Ledger-based solutions could drive XRP’s price upward.
Efforts are being made to accelerate further adoption of XRP. Ripple’s development arm, RippleX, is introducing significant upgrades to the XRP Ledger (XRPL), making the initial participation process easier by streamlining the distribution of free XRP.
These developments are essential for expanding the role and usage of XRP in the cryptocurrency economy. Market trends, increasing benefits of financial services, and legal clarity are expected to shape XRP’s future positively, leading to significant expansion in partnerships.
The legal battle between the SEC and Ripple over alleged violations related to XRP’s institutional sales has intensified. In March, the SEC demanded a penalty of $2 billion from Ripple, causing tensions to rise. Ripple has denied these allegations, and Chief Legal Officer Stuart Alderoty presented the company’s detailed response last week. Ripple’s defense challenges the SEC’s claims, proposing a fine under $10 million.
As the case nears its conclusion, the crypto community eagerly awaits the outcome and whether XRP can surpass its previous high levels, even possibly reaching double digits. However, it is important to note that the analyst’s forecast may not be entirely realistic.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
