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Analyst Predicts XRP Price to Reach $7 Amid Ripple’s Growing Plans
Ripple has seen a significant surge in its XRP price, rising to $3.07 with a 4.75% increase within just 24 hours. This rapid growth is attributed to the company’s growing plans and strategic moves, including the acquisition of Rail for $200 million. The acquisition aims to boost XRP’s utility, particularly with the RLUSD stablecoin.
As Ripple reinforces its foothold in the financial sector, the XRP price could potentially reach $7 if it maintains above a crucial level of $2.95. Analyst Crypto King has predicted a 156% rally for XRP, which would put the asset at this target valuation. The prediction is grounded in technical analysis and aligns with Ripple’s ongoing developments.
Ripple’s banking license application has, however, encountered some resistance from US banks due to concerns over potential risks and a lack of transparency. Despite these hurdles, Ripple remains committed to securing the license, demonstrating its determination to expand financial services and increase XRP adoption in global markets.
The recent $200 million acquisition deal adds another layer of optimism for XRP’s future trajectory. This new development could further strengthen Ripple’s operational capabilities, leading to increased demand for XRP’s utility across various financial sectors.
Source: coincentral.com
