TL;DR
XRP ended the first quarter at $0.61 with future predictions varying between a potential rise by 20% and a fall of nearly 30%.
The price of the asset may be influenced by the upcoming Bitcoin halving and the outcome of the Ripple vs. SEC lawsuit.
The price of Ripple’s XRP passed through severe turbulence throughout the first quarter of the year, eventually finishing at the same level where it started the journey – $0.61. The popular X user – EGRAG CRYPTO – predicted there are two possible scenarios for the following months: a surge above $0.75 or a dip under $0.44.
The expert believes “the path” to a new all-time high of over $10 is “clear” but advised investors to cash out some of their profits if “in need.”
“Our path is clear, but remember to secure profits along the way if you are in need because I will do so,” EGRAG CRYPTO stated.
Prior to that, the analyst claimed XRP was poised for a bull run due to closing more than six monthly candles above the 21 Exponential Moving Average (EMA).
Key factors that might fuel an XRP rally in the near future include the upcoming Bitcoin halving (scheduled for the end of April) and developments on the Ripple vs. SEC front.
Recall that the trial between the two entities is set for April 23. The company currently has the upper hand after securing three partial court victories last year.
A decisive win for Ripple might propel an XRP price increase, whereas the opposite scenario could hamper the industry’s progress and result in the implementation of stringent rules.
Those willing to check what other factors hint that the asset’s valuation is on the verge of an explosive jump, feel free to check our dedicated video below:
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