As the cryptocurrency market continues to experience a surge in prices, Ripple’s XRP has emerged as one of the top performers. The digital asset has seen its value increase by over 100% in the past week, surpassing the $2 mark for the first time since 2018. This has led to speculation that a FOMO (fear of missing out) surge is imminent, with investors rushing to buy XRP before its price rises even further.
One pro-Ripple attorney, Jeremy Hogan, has predicted that XRP’s recent price surge is just the beginning. In a recent video, Hogan stated that he believes XRP’s price could reach $10 or even $20 in the coming weeks. He cited several factors that could contribute to this surge, including increased adoption of Ripple’s technology by financial institutions and the upcoming SEC lawsuit against Ripple.
Hogan believes that the SEC lawsuit, which alleges that Ripple conducted an unregistered securities offering when it sold XRP, could actually work in Ripple’s favor. He argues that if Ripple wins the lawsuit, it could lead to increased adoption of XRP by financial institutions, as they would have more clarity on the regulatory status of the digital asset.
In addition to the SEC lawsuit, Hogan also pointed to recent partnerships between Ripple and major financial institutions as a reason for optimism about XRP’s future. He noted that Ripple’s technology has already been adopted by over 300 financial institutions worldwide, including Santander and American Express.
Despite these positive developments, there are still some concerns about XRP’s long-term prospects. Some critics argue that Ripple’s centralized control over the digital asset makes it less attractive to investors than decentralized cryptocurrencies like Bitcoin and Ethereum. Others point to the fact that XRP’s value is closely tied to Ripple’s success, which could limit its potential for growth.
Despite these concerns, many investors are bullish on XRP’s future. The digital asset has already proven to be a top performer in the cryptocurrency market, and its recent price surge has only added to its appeal. Whether or not XRP’s price will continue to rise remains to be seen, but one thing is clear: the cryptocurrency market is more unpredictable than ever, and investors should proceed with caution.
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- Source: Plato Data Intelligence.