Cryptocurrency analysts are divided on the price trajectory of XRP. While some remain cautious due to its recent price stagnation and the unlikely outcome of the legal battle with the U.S. Securities and Exchange Commission (SEC), others see significant potential for growth.
However, with some analysts predicting a move to $100 for XRP, we consulted a notable source to find out if XRP can hit this target. Changelly, a cryptocurrency exchange, recently published a report outlining its bullish outlook for XRP, and it shows a timeline for the digital asset to reach the $100 target.
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A Slow and Steady Climb
Changelly’s report acknowledges the significant challenge XRP faces in reaching $100. However, Changelly’s table shows that XRP can reach $100 by April 2040, where the analysts set a minimum price of $96.47, an average price of $104.62, and a maximum price of $121.18.
The predictions show a sustained climb for XRP from its current price till 2040 when it reaches the $100 target. XRP is trading at $0.5553, up 4.36% over the past 24 hours. XRP’s value would need to surge by 17,908.28 within the next 16 years to reach the $100 target. Changelly believes XRP will gradually climb over this extended period, eventually reaching the target and surpassing it.
Factors Influencing XRP’s Future
While Changelly does not specify the techniques used to predict future prices, several external factors could significantly influence XRP’s price. A crucial element is the ongoing legal battle between Ripple and the SEC. However, the lawsuit is expected to end in a few weeks. Although a prominent legal figure expects both parties to appeal, he believes the lawsuit will not go beyond 2025.
Beyond the legal landscape, several developments foster XRP’s utility and drive its potential growth. Ripple has already secured over 30 money transmitter licenses in the U.S., laying the groundwork for wider XRP integration within the financial system. Additionally, Ripple and its partners are actively implementing XRP-powered solutions in international markets.
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A recent example is the collaboration between Japan’s SBI Group, Ripple, and HashKey DX to launch supply chain solutions built on the XRP ledger.
The XRP community also plays a vital role in driving adoption. The recent introduction of automated market maker (AMM) functionality on the XRP blockchain presents new opportunities for user engagement. By allowing users to earn passive income through AMM pools, a portion of XRP tokens are effectively removed from circulation, potentially influencing price stability and future growth.
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