Ripple News : Top Reasons XRP Price Could Experience a Major Upswing (2024)

Elena R

Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Jul 24, 2024 14:24 UTC
[article_wishlist article_id="330568" article_link="https://coinpedia.org/news/ripple-news-top-reasons-xrp-price-could-experience-a-major-upswing/"]

Ripple News : Top Reasons XRP Price Could Experience a Major Upswing (6)

Story Highlights

The crypto market is eagerly awaiting the resolution of the Ripple vs. SEC case as it could boost the XRP price.
Several factors could drive XRP's growth, including increased U.S. adoption, the launch of the RLUSD stablecoin, and the potential for XRP ETFs in the U.S.
The broader crypto market is influenced by factors like inflation, regulatory clarity, etc.

The crypto market is buzzing with speculation about the Ripple vs. SEC lawsuit, with mixed opinions on whether there will be a resolution by July 31. Market analyst Zach Rector has suggested that ending this nearly four-year legal battle could be a major positive for XRP.

Rector, a prominent XRP community member, links this potential shift to Ripple CEO Brad Garlinghouse’s bold prediction that 2024 will be a crucial year for XRP. Despite the ongoing uncertainty, Rector is confident that XRP will prove its value in the upcoming bull market.

Is there a reason he’s this sure? Let’s find out.

1. Ripple Lawsuit Resolution

Ripple CEO Brad Garlinghouse has hinted that a resolution might be near. Such news could lead to a significant price increase similar to the one XRP saw after the July 2023 ruling, which decided XRP is not a security. That ruling caused XRP’s price to double within 24 hours, suggesting a resolution could trigger another major price jump.

2. Increased U.S. Adoption

If the lawsuit is resolved, Ripple might soon offer its XRP-based payment solutions to U.S. customers. This could significantly increase XRP’s adoption and usage. Higher adoption usually leads to greater demand, which could drive up the price of the asset.

3. RLUSD Stablecoin Launch

Ripple is preparing to launch its new stablecoin, RLUSD, on both the XRP Ledger and Ethereum blockchains. This stablecoin is expected to bring more liquidity into the XRPL ecosystem. By improving liquidity, RLUSD could increase activity within the XRP network and potentially raise XRP’s value as the ecosystem grows.

4. XRP ETFs Coming to the U.S.

XRP ETFs, which have already launched in Europe, are expected to arrive in the U.S. soon. The introduction of these ETFs could add significant new liquidity to the market. ETFs generally make it easier for institutional and retail investors to invest in cryptocurrencies, which could boost demand and XRP’s price.

5. New Crypto Rules Ahead

The crypto world is waiting for new regulations after the elections. Ripple’s focus on compliance could help XRP benefit from any positive regulatory changes. As regulatory clarity improves, it could increase investor confidence and lead to a bullish trend for XRP.

6. Reduced Inflationary Pressure

Zach Rector believes that ongoing inflation and money printing, regardless of who wins the upcoming U.S. presidential election, might drive investors toward crypto assets to protect against traditional financial instability. As inflation slows down, cryptocurrencies like XRP could become more appealing, potentially increasing demand and price.

Overall, Zach Rector’s analysis suggests that these factors could lead to a significant price surge for XRP in the near future.

The crypto world is buzzing about XRP. Are you buying, selling, or holding?