The excitement around Ripple (XRP) continues to grow, and many investors are wondering whether now is the time to cash in their chips. Before you decide to sell your XRP holdings, take a moment to consider the seven critical events that analysts suggest you wait for.
Despite experiencing a slight drop that brought XRP down to under $2.25, it still stands tall with a trading price of around $2.42, marking an impressive 300% increase since the beginning of the year. This surge has left many in the XRP community contemplating whether to lock in profits or hold on for more.
One notable market commentator known as Maxi believes investors should remain patient. Here’s what you should keep an eye on before making any moves:
First up is the introduction of Ripple’s stablecoin, RLUSD. This digital asset, designed to mirror the value of the US dollar on a 1:1 basis, had its launch on December 17, igniting optimism for potential price increases.
Next in line is Donald Trump’s inauguration on January 20, 2025, which could have significant impacts on market dynamics. Following that is the anticipated departure of Gary Gensler, the current head of the SEC. Gensler’s departure is expected next month, and Paul Atkins will take over, bringing a fresh perspective that could favor the crypto industry.
A pivotal moment to look forward to is the potential resolution of the ongoing lawsuit between Ripple and the SEC. With over four years of legal tussle behind them, Ripple has seen some promising court victories. The change in SEC leadership might just facilitate a more favorable outcome for Ripple.
Additionally, pay attention to the start of altseason, a time when alternative cryptocurrencies often see significant gains. Partnerships with large banking institutions and the possibility of launching an XRP ETF are also on the radar. Both factors could notably influence XRP’s market presence and price.
On the price speculation front, analysts like JAVON MARKS and Dark Defender are forecasting optimistic outcomes. Marks anticipates a price explosion, while Dark Defender predicts short-term targets of $5.85 and $8.76. Armando Pantoja has chimed in, suggesting XRP could rise to $2.78 and eventually $3.87. The buzz grows stronger with potential FOMO triggering explosive growth if XRP manages to hit the $10-$12 mark.
In light of these factors, if you’re holding Ripple (XRP), take a step back and assess the situation. This could be an opportune time to hold your ground. The market is anything but predictable, and these developments are worth waiting for before you make a decision.
