Recently, XRP has been in the spotlight due to several significant milestones and upcoming events that might affect its price.
Current State of XRP
Following the US presidential elections, XRP experienced a significant price surge, reaching $3.40 in January. However, it has since dropped, currently trading at approximately $2.32, which is 31% below the local peak. Nevertheless, the total number of XRP addresses has reached an all-time high of 6.87 million, suggesting increased demand and network adoption.
XRP Growth Prospects
Analysts, like Ali Martinez, indicate a potential price increase to $15 per coin, based on a symmetrical triangle pattern on the price chart. Others foresee a rise in the $27-$222 range, though such forecasts require a significant surge in market capitalization.
Factors Influencing XRP Growth
The anticipated conclusion of the Ripple and SEC lawsuit could have a positive impact on XRP's price. Additionally, the potential launch of a spot XRP ETF could attract new investors by providing a safer and easier way to invest in the token. Companies like Grayscale and 21Shares have already shown interest in launching an ETF.
The current state of XRP addresses and potential events such as legal developments and ETF launch offer reasons to believe that XRP might experience significant price changes soon.
