In crypto’s recent mini-bull run immediately following Donald Trump’s election victory, one popular token was left with a sluggish price movement: Ripple’s XRP. While Bitcoin raced to hit the $90k level and teased the $100k mark, and some meme coins like Dogecoin showed gains, XRP maintained its sideways price momentum.
The price of the altcoin hovered around $0.50 after the election, and it was only on November 16 that it finally broke $1.
today, XRP trades above $1.60, And many analysts expect more significant steps from the project. According to Robert Doyle, the so-called crypto sensei, big things could still happen with XRP, and holders could get rich soon.
In a video, Doyle explains the crypto asset’s recent price surge, as it broke past its seven-year resistance level, suggests growth momentum for the token.
If you keep $XRP You will be very rich soon! pic.twitter.com/oUlkFqwC2J
— CryptoSensei (@Crypt0Senseii) November 27, 2024
Institutional adoption is driving up the XRP price
Doyle shared a video in which he mentioned that XRP has momentum. On the technical side, the altcoin’s recent price movement indicated that it finally breached its seven-year resistance level, the token’s position for growth.
In addition to this technological speed, Doyle mentioned that the coin operates in a favorable environment. He noted that institutional adoption is increasing, making it a viable investment for many.
The rise in cross-border payments also benefits crypto
Ripple benefits from the growing shift in global payments, the crypto commentator said. He argued that Ripple has partnered with several Latin American banks, making XRP the preferred choice for international payments.
Then, he explored some theories that could increase XRP, including the possibility that FedNow payment system Can use digital currency for payments. However, this claim about adoption of the FedNow payment system remains unfounded.
Additionally, Doyle also explores other trends affecting the crypto market industry. He says XRP now benefits from increased institutional adoption and a move toward tokenized value. Finally, Doyle acknowledged the possibility of adopting gold-backed currencies, with tokens as a bridge.
Can Holders Get Rich With Altcoins?
With favorable market conditions, Doyle says the coin is set for a massive rally. Holders of crypto will soon reap potential rewards. Crypto commentators believe that the crypto sector will benefit from increasing institutional adoption and use cases.
Doyle further predicted that if Ripple’s governance coin could control 4 to 5% of the global financial market, the coin’s price could reach $30 or $50.
Currently, XRP is Trading above $1.60 After a few days in red. Other crypto commentators also shared Doyle’s predictions and insights. For example, a Wall Street analyst, Linda Jones, targets $50 as the price of XRP. He mentioned that it follows a four-year cycle and is due to price movements.
Other analysts have a contrasting view, and some offer price estimates as low as $10.
Featured images from Pexels, charts from TradingView
