This Is The Reason Why $XRP Price Could Reach $1 Since Last November 2021

Bittime - Ripple ($XRP) price managed to break through the $1 mark (around Rp. 15,900) for the first time since November 2021. This price increase became a big highlight in the crypto world, bringing new hope to the "XRP Army" community who had been waiting for this moment for a long time. 

This surge does not only reflect market optimism towards $XRP. However, these price movements also show how various political, legal and technological fundamental factors influence digital asset price dynamics.

Political Momentum and Changing Regulations

One of the main factors behind the $XRP price surge is the changing political and regulatory climate in the United States. The news that Ripple CEO, Brad Garlinghouse, is communicating with the transition team of the new US administration sends a positive signal for the crypto industry. 

In a post on his social media, Garlinghouse said that the new administration is more proactive in creating clear rules for the crypto sector. This step is considered a much-needed "breath of fresh air", considering that regulatory uncertainty often becomes a barrier to market development.

Not only that, the speech by Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), which resembled a farewell speech, further strengthened expectations that legal pressure on Ripple would subside. 

Read also: Ripple (XRP) Price Prediction According to Crypto Analysts, Rise to $3?

The SEC previously filed a lawsuit against Ripple alleging unauthorized sale of securities. However, Gensler's potential resignation paves the way for a settlement of the case or even a complete dismissal of the lawsuit, good news that immediately boosted the price of $XRP.

XRP Use in Cross-Border Transactions

Beyond political dynamics, $XRP's fundamental strength as a liquidity token for cross-border transactions is one reason why this asset is attractive to investors. Ripple has built a global payments solution that enables financial institutions to speed up and streamline international fund transfers. 

With better regulatory stability, Ripple is expected to be able to expand the adoption of its technology to a global level. In fact, even to the government sector with the implementation of central bank digital currency (CBDC).

Not only that, Ripple recently launched a stablecoin called RLUSD, which is designed to be used in conjunction with $XRP in the Ripple Payments Solution system. This move shows Ripple's strategy to integrate new innovations into its ecosystem and expand market share.

Market Data and XRP Price Predictions

Sumber: Cryptonews

At the time of writing, the price of $XRP was at $1.02 (around IDR 16,000), registering a 5.4% increase in the last 24 hours. The year-end price target for $XRP is even set at $5 (around IDR 79,500). 

This is based on the predictions of several analysts. If this scenario materializes, $XRP will register a rise of 277% from current levels.

Several other factors also support this bullish trend, such as the burning of 13 million $XRP that occurred a few days ago. Burning these tokens reduces supply, creating positive pressure on the price.

Investor Outlook for $XRP

Big brokers like Alliance Bernstein encourage their clients to “buy all the crypto assets that can be bought.” $XRP is one of their main recommendations. 

This surge is a reminder of the importance of portfolio diversification to take advantage of the huge opportunities in the crypto market. However, investors are still advised to be careful and carry out in-depth analysis before making investment decisions.

Read also: Ripple CEO Brad Garlinghouse Reveals Reason Behind $XRP Price Rally

Conclusion

The price of $XRP breaking through $1 again after almost two years is proof that this asset has great attraction and potential in the market. The combination of political factors, clearer regulations and growing technology adoption is providing renewed optimism for investors. 

With an ambitious price target and strong fundamentals, $XRP deserves attention amidst the growing bull market trend. You can also buy XRP directly here.

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