A well-known crypto expert on X (formerly Twitter) called “Mickle” predicts a big rise for XRP, the native token of the XRP Ledger (XRPL), even saying it could go up by 1,000 times. Even though XRP recently fell below $0.6, Mickle is still positive about its future.
According to Mickle’s optimistic view, XRP could go up from $0.57 to $570 during the next rising cycle. This guess is based on changes that are expected to happen in US laws that could be good for the bitcoin business. Mike Mickle thinks that a significant shift in politics will lead to better rules for cryptocurrency like XRP, which will help them grow.
XRP Faces Regulatory Challenges
The analyst talks about how strong the cryptocurrency community is in the face of tough regulations in the US, where top agencies are taking harsh steps to enforce the rules. Mickle says that the business is stronger now that it has won a number of court cases and pushed for crypto-friendly laws.
Even though the price of XRP has been going down lately, Mickle is still optimistic. He says that the way prices are moving now is like a symmetrical triangle pattern that was seen from 2013 to 2017, which ended with a major price jump. Mickle says that Ripple could have an exponential breakout if it follows a similar trend.
Earlier this week, the price of Ripple was above $0.6, which meant that it might be able to break out of negative trends. But in the past 24 hours, the price of the cryptocurrency has dropped by 10%, and it is now worth $0.57. Ripple has dropped 4.2% in the past week, which happened at the same time that the legal fight between Ripple and the US Securities and Exchange Commission (SEC) was almost over.
According to Santiment, a market intelligence platform, low 7-day average trader returns for significant cryptocurrencies like Ripple, ETH, and BTC could mean that prices are about to go up again.
