In a YouTube video titled 'Here Come The #XRP Pump!!! Are You Ready For XRP To Break $1.00,' crypto analyst Matthew Perry delves into the potential for XRP’s price to reach $1 soon.
Current Market Conditions
The analyst begins by discussing current market conditions. He emphasized that the overall market has not been positive, but over the past 24 hours, the market has seen some increase.
XRP Historical Performance
Perry noted that XRP’s price increased by 5% in just one day, and its trading volume saw a 71% surge, indicating heightened interest in the asset. At the time of writing, XRP is trading at $0.622.
Impact of the SEC Lawsuit
The analyst mentioned that these last four years have seen XRP’s price struggle due to the SEC vs. Ripple case. However, a successful outcome could spark a substantial price increase and further pique investor interest. The SEC’s appeal deadline is approaching on October 6th. Should the SEC choose not to appeal, Ripple could operate without regulatory limitations, potentially enabling XRP to flourish. Conversely, an appeal would likely prolong the legal battle, restricting XRP’s price performance during the next bull market.
The analyst believes that the outcome of the SEC legal case will be a crucial factor for the future price growth of XRP.
Comments