XRP price has risen significantly again in recent days, moving towards USD 0.60. Nonetheless, the growth of the XRP coin was lower than that of the two major cryptocurrencies, Bitcoin and Ethereum. Could XRP price rise to $10 during a severe bull market?
How has XRP price moved over the past few days?
that XRP price It has risen significantly over the past seven days.. The value of the XRP coin has increased by more than 3% in the last 24 hours alone. Therefore, the price of XRP could benefit from the recent rise in the price of Bitcoin.
The price of XRP has been rising particularly sharply since early March. Recently the price rose to USD 0.74. As a result, the XRP coin was able to rally sharply again after the losses of the past few weeks.
Why were the profits so small before?
Unlike many altcoins such as Bitcoin, Solana, Avalanche, and Ethereum, the price of XRP did not rise much in 2024. The reason is clear. This is because the legal dispute with the SEC is still dragging on. Last year, Ripple was able to partially breathe a sigh of relief because selling tokens only to institutional investors, not individual investors, was a violation of securities laws.
In recent weeks, Ripple has been forced to submit additional documents to reveal institutional trading issues. The news limited price gains in January. Currently, confidence in the XRP token is not particularly high.
Can XRP price still rise to $10?
However, the dispute may also have the effect of making the XRP coin particularly undervalued at the moment. Therefore, the price of XRP can rise particularly sharply during a parabolic bull market. This is when legal disputes take a backseat and new investors only want to profit from the matter.
XRP coin is well suited to induce very high FOMO. As an alternative payment system within the existing banking system, the idea can attract many new investors. Moreover, it appears to be more reputable than many memecoins, which can only profit again during extremely optimistic phases.
The moment Bitcoin price hits an all-time high, the mainstream needs to re-aware of the cryptocurrency market. This could cause the price of XRP to explode. It was able to reach a new all-time high of over $3.80. In an extremely optimistic scenario, a rise to USD 10 is also possible.