Amid the volatile landscape of cryptocurrency, XRP has once again taken center stage as pro-XRP lawyer Bill Morgan predicts a surge in its value to all-time highs (ATH) in 2024. Meanwhile, as the Bitcoin price has recently touched its all-time high breaching the $70,000 level, Morgan’s optimistic forecast has captured the attention of investors.
So, let’s look at the key factors that have triggered the bullish outlook of the XRP lawyer.
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Pro-XRP Lawyer Unveils Optimistic Outlook For XRP
Pro-XRP lawyer Bill Morgan recently hinted at a bullish trajectory for XRP price, foreseeing a potential surge to ATH in 2024. Drawing from historical data and market trends, Morgan emphasized the robust returns XRP typically experiences in the second and fourth quarters of the year.
Meanwhile, in a recent X post, Morgan highlighted several key factors driving XRP’s potential growth. He stated that while the Securities and Exchange Commission’s (SEC) decision not to appeal the ruling declaring XRP not a security was significant, the market still awaits the resolution of the ongoing Ripple Vs. SEC lawsuit.
Besides, Morgan outlined four crucial factors necessary for XRP price’s full potential to be realized: legal clarity on XRP’s status, the conclusion of the lawsuit, XRP trading on US crypto exchanges, and Ripple’s ability to continue using XRP for its solutions without restrictive injunctions. Notably, he noted that only two of these conditions have been met so far.
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However, the remaining factors are crucial for unlocking the full potential of the crypto, Bill Morgan said, underscoring ongoing uncertainty. But, despite the looming uncertainty his optimism persists, with expectations of XRP price reaching all-time highs this year, indicating resilience amid legal complexities and regulatory challenges.
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Market Sentiment and Bitcoin’s Influence
Morgan’s sentiments align with those of XRP influencer Moon Lambo, who emphasized the SEC’s stance on XRP’s status. Lambo suggested that the market remains largely indifferent to the ongoing Ripple Vs. SEC lawsuit, focusing instead on regulatory clarity and XRP’s utility.
Meanwhile, against the backdrop of Bitcoin’s recent ATH, Morgan urged investors to consider buying XRP, pointing out its low value compared to Bitcoin. With Bitcoin’s resurgence and XRP’s potential, Morgan’s advice resonates with those eyeing opportunities in the cryptocurrency market.
In addition, he also suggests that XRP generally shows robust performance in the second and final quarter of the year, citing historical data. Notably, as of writing, the XRP price was up 1.44% to $0.6308, with its trading volume staying near the flatline from yesterday.
Meanwhile, the crypto has touched a high of $0.6318 and a low of $0.6048 in the last 24 hours, suggesting the highly volatile condition of the crypto.
Also Read: Bitcoin (BTC) Bulls and Bears In Tight Fight, Altcoins to Lead Next Rally?
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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam's expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam's journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.
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