Expert Predicts XRP Price Surge to $10 Amid Positive Market Trends
A prominent crypto expert forecasts XRP to reach $10, fueled by positive trends in the market.
Ripple's declining Escrow stake has drawn praise, adding optimism to the prediction.With increasing institutional interest in XRP, the community eagerly awaits a major rally.
XRP Price Forecasts $10 RallyCrypto expert Ben Armstrong, popularly known as BitBoy, has predicted that XRP will hit $10.
In a podcast with XRP supporter Edo Farina, BitBoy outlined several reasons for this prediction. He emphasized that the ongoing Ripple vs. SEC lawsuit no longer affects XRP's future price trajectory.
BitBoy believes the case, which has moved to the appeal phase, doesn't hold the same weight it did during past market cycles. He also mentioned the growing confidence in XRP's role as the chosen institutional vehicle" for large investors.
According to BitBoy, this institutional confidence is paving the way for XRP to rise in price despite legal hurdles. He further suggested that XRP could surpass Ethereum, intensifying discussions within the crypto community.
Previously, BitBoy had stated that XRP may reach between $16 and $22 by 2025, flipping Ethereum's market cap. The analyst added that the cryptocurrency once overtook Ethereum in 2018, making this prediction possible.
This bold prediction has fueled optimism that XRP is headed for significant growth.
Ripple's Escrow Stake DeclinesBitboy's prediction comes as Ripple's escrow holdings dwindle, further fueling investor optimism. Bill Morgan, a pro-XRP lawyer, shared new insights into Ripple's Escrow holdings.
Ripple's stake in the Escrow has now dropped below 39% of the total XRP supply, compared to 55% in 2020. The community has viewed this significant reduction in Ripple's holdings positively.
Morgan explained that the lower Escrow holdings contradict previous concerns that Ripple's control over the Escrow could suppress XRP's price. His comments about the reduced XRP holding have sparked mixed feelings in the crypto community.
Some people doubt whether Rippleis truly making progress toward decentralization. One user, Arsenius The Great, questioned how much Ripple has reduced its XRP supply.
Although Ripple's holdings dropped to 39%, Arsenius noted it's still close to 40%, which is not far from 50%. He argued that, even after four years, the 11% reduction still leaves XRP under Ripple's significant control.
It's worth noting the lower control over XRP's supply could increase confidence in the token's market performance.
Institutional Interest and Market ReactionRipple's CEO, Brad Garlinghouse, recently spoke about the increased institutional interest in XRP. This interest was sparked after several companies filed for XRP ETFs, including 21Shares, Bitwise, and Canary Capital.
The possibility of an XRP ETF has excited the community and fueled hopes of a rally. Meanwhile, XRP's price hovered near $0.5113, with trading volume jumping by 54% to $1.02 million. Over the past day, the token has been up slightly by 1.63% but down 1.30% in the past seven days.
Market volatility ahead of the U.S. elections and FOMC meetings has contributed to the current price fluctuations. Despite the current volatility, many analysts, including EGRAG Crypto, have shared bullish forecasts for XRP.
The expert predicted on X that the token could see double-digit gains soon, driven by major announcements on the horizon. As Ripple's Escrow stake decreases and institutional interest grows, the community is hopeful for a price surge.
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