XRP has dropped 4.92% in the last 24 hours according to CoinMarketCap. The entire week hasn’t been any different with a drop of 5.52% in price and this has brought a lot of speculation in the XRP community.
As everyone looks forward to a remarkable surge in XRP price, YouTuber and crypto analyst, Zach Rector (@ZachRector7) has shared his opinion on three events that could lead to another massive XRP price uptrend.
Here are the 3 Catalysts that lead to the next BIG move for XRP! 👀
1. Judge Torres DENIES SEC Appeal
2. First US bank or institution goes LIVE with ODL XRP
3. SEC & Ripple Settle
Let me know how high we pump after these events… 👇
— Zach Rector (@ZachRector7) September 11, 2023
Event 1: Judge Torres Denying the SEC Appeal
Zach’s first point is one that a lot of people in the community are hoping for. The last time Ripple won against the SEC, there was a huge increase in the token’s price. If the SEC’s request for an interlocutory appeal gets denied, we might see a repeat of what happened on July 13.
XRP community members are eagerly anticipating the decision and some experts believe the SEC’s appeal has no chance.
Event 2: A US Bank or Institution Goes Live With ODL
The second point is also going to be an important milestone in Ripple’s journey. An on-demand Liquidity (ODL) is Ripple’s solution for enabling real-time cross-border money transfer and managing liquidity.
It is efficient and does not require pre-funding in the destination market. ODL uses XRP as a bridge currency and adoption by a major US Bank or financial institution will mean more adoption for XRP.
Ripple CTO, David Schwartz, recently said XRP is second only to Bitcoin on the list of cryptocurrencies with regulatory clarity in the U.S., thanks to the partial victory against the SEC. This might give these institutions the courage needed to integrate XRP into their operations through ODL, and in turn, help drive up the price of XRP.
Event 3: Settlement With the SEC
Zach’s final event could be a big one if it happens. David Schwartz already confirmed some announcements for the upcoming celebration party which could include a settlement with the SEC.
If that happens, it could have a profound positive effect on the price of XRP. A settlement favorable to Ripple and XRP will also be a major turning point for the rest of the crypto industry in the U.S. and might push the entire market upward.
However, this belief isn’t shared with the entire community. One user believes that the only useful catalyst to boost the price of XRP is more use cases. He describes Zach’s list as “pump and dump catalysts.”
But some users are in support of Zach, with one user predicting that XRP would get to $150 after the announcement of number three.
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