Analyst DonAlt, known for his accurate predictions, believes that the cryptocurrency XRP, associated with Ripple, may be on the brink of a significant new rise.
DonAlt's Predictions on XRP
In a June 30 post on X, DonAlt informed his 671.5K followers that XRP might be gearing up for 'Round 2' of its meteoric rally. He noted that XRP was experiencing modest gains while other cryptocurrencies like Bitcoin (BTC) were trading lower.
Fundamental Factors Supporting XRP
DonAlt's prediction follows Ripple CEO Brad Garlinghouse's announcement that the company plans to drop its cross-appeal against the SEC, with expectations that the SEC will do the same. If both parties indeed conclude their appeals, it could end the legal battles between Ripple and the US securities watchdog, potentially acting as a bullish catalyst for XRP.
The XRP Ledger also launched its EVM sidechain on the mainnet, unlocking the ability to engage with Ethereum-based smart contracts and DeFi on the XRP platform.
Future of XRP and Its Potential
The rising interest in XRP is fueled by a record-high sentiment among market participants, even amid months of price stagnation. This environment could set the stage for XRP to rise towards the symbolic $3 mark and beyond.
Overall, the situation surrounding XRP and Ripple indicates positive signs, and the potential for renewed interest in this cryptocurrency may lead to another rally in the coming months.
