In the recent mini crypto bull run right after Donald Trump won the election, one popular token remained with slow price movement: Ripple’s XRP. While Bitcoin raced to reach the $90,000 level and crossed the $100,000 mark, and some cryptocurrencies like Dogecoin showed gains, XRP maintained sideways price action.
The altcoin was at $0.50 days after the election, and it was only on November 16 that it finally surpassed the dollar.
today, XRP is trading at over $1.60, Many analysts expect more significant moves from the project. According to Robert Doyle, better known as Crypto Sensei, big things can still happen for XRP, and its holders could get rich soon.
In a video, Doyle explains the crypto asset’s recent price surge, surpassing a seven-year resistance level, indicating the token’s growth momentum.
If you carry $XRP You will become very rich soon! pic.twitter.com/oUlkFqwC2J
— Crypt0Senseii (@Crypt0Senseii) November 27, 2024
Institutional adoption is pushing the price of XRP higher
Doyle shared a video in which he stated that XRP has momentum. On the technical side, the altcoin’s recent price action indicated that it has finally broken through a seven-year resistance level, positioning the token for growth.
In addition to this technical momentum, Doyle stated that the coin is operating in a favorable environment. He noted that institutional adoption is growing, making it a suitable investment for many.
The growth in cross-border payments also benefits cryptocurrencies
The cryptocurrency commentator added that Ripple is benefiting from the increasing shift in global payments. He said that Ripple has partnered with several Latin American banks, making XRP the preferred choice for international payments.
Then explore some of the theories that could grow XRP, including the possibility that… FedNow payment system May use digital currency for payments. However, this claim about the adoption of the FedNow payment system is still not supported by evidence.
Furthermore, Doyle also explored other trends impacting the cryptocurrency market industry. He says XRP is now benefiting from increased institutional adoption and a move toward tokenized value. Finally, Doyle acknowledged the possibility of adopting gold-backed currencies, with the token used as a bridge.
Can holders get rich with the altcoin?
Under favorable market conditions, Doyle says the currency is poised for a massive rally. Cryptocurrency holders will soon reap the potential rewards. Cryptocurrency commentator believes that the cryptocurrency sector will benefit from increased institutional adoption and use cases.
Doyle also predicted that if the ruling cryptocurrency Ripple can control 4 to 5% of the global financial market, the price of the coin could reach $30 or as much as $50.
Currently, XRP is Trading above $1.60 After a few days in red. Other cryptocurrency commentators also shared Doyle’s predictions and insights. For example, Wall Street analyst Lynda Jones is targeting a price of $50 for XRP. It stated that it follows a four-year cycle and is scheduled to be operated at a price.
Other analysts hold a contrarian view, with some offering a conservative price estimate of less than $10.
Featured image from Pexels, chart from TradingView
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