Popular analysts predict a potential Ripple (XRP) rally in October, associated with the potential settlement of the SEC lawsuit and increased adoption.
XRP Rally in October?
October is often a bullish month for the cryptocurrency market, with the prices of Bitcoin (BTC) and other leading digital assets frequently rising during this period in previous years. This has led many in the industry to refer to it as 'Uptober'. One market observer expecting a significant rally for Ripple’s XRP this month is the popular X user JackTheRippler. The analyst pointed out several factors that could contribute to a price rise, starting with the potential resolution of the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC).
Forecast by EGRAG CRYPTO
The X user EGRAG CRYPTO, who often discusses XRP’s market dynamics, recently claimed that the asset has formed an interesting pattern resembling the logo of the footwear and apparel company Nike. The analyst believes that continuing this trend could lead to a new all-time high of approximately $5.50 in the following years. Furthermore, the crypto enthusiast also assumes that the pattern could be broken to the upside as soon as this year, potentially resulting in a significant price surge to as high as $13.
Conclusion
It is important to note that for these forecasts to materialize, XRP’s market capitalization must skyrocket to over $670 billion. Currently, only Bitcoin (BTC) exceeds this mark, making the prediction quite unlikely.
October could be a noteworthy month for Ripple (XRP) as many analysts are optimistic about a potential price increase amidst the resolution of the SEC lawsuit and increased technology adoption. However, it should be noted that such forecasts require a significant rise in market capitalization.
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