Despite the recent market volatility, several coins are performing strongly, including XRP, which reached a two-month high. According to many, this is just the beginning of a major upward trend. For example, cryptocurrency analyst Lucky notes that XRP could approach $10 sooner than expected.
Analyst Lucky shared his prediction on X, his former Twitter handle. The analyst notes that Ripple lost up to $200 million in the legal battle with the US Securities and Exchange Commission (SEC). However, the team is showing flexibility, building new integrations and entering into interesting partnerships.
Developments on the Ripple network
Lucky points out some key developments that could significantly enhance the Ripple platform. One of these is a collaboration with Uphold, a platform that simplifies transactions between fiat currencies and cryptocurrencies. This collaboration focuses on integrating Uphold’s cryptocurrency liquidity capabilities with Ripple’s cross-border payment infrastructure.
Additionally, there is upcoming support for non-fungible tokens (NFTs) on the Ripple network, which has been initiated by financial services provider SBI Holdings. This addition has the potential to create a massive influx of users, which could benefit the price of XRP in the long term.
Meanwhile, the Xumm wallet, designed specifically for the XRP Ledger (XRPL), is celebrating reaching 600,000 active users. With ambitions for further expansion and improvements, including increasing ease of use and adding decentralized exchange functionality, Xumm is positioned to lead and support a growing number of users for Ripple.
XRP price prediction
The analyst notes that thanks to these developments, a valuation of $1 or even $10 for XRP could be reached sooner than initially expected. Some go even further and predict the price will increase to $30 by 2025. This would represent a staggering 5,350% increase over the current price.
Free encryption worth €10
Do you want to enter the world of cryptocurrencies and perhaps buy XRP or another cryptocurrency? Then we have great news for you! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly cryptocurrency exchanges in Europe, our readers receive an exclusive offer.
If you sign up with Bitvavo via the button below, you will not only get €10 free, but you will also pay no trading fees on your first €10,000 of transactions.
“Total coffee specialist. Hardcore reader. Incurable music scholar. Web guru. Freelance troublemaker. Problem solver. Travel trailblazer.”
More Stories
Thai Air Force wants Swedish Gripen 39 fighter jets
Ageas surprises with higher operating result
Horse Palace in Belt for sale