XRP has definitely been a frustrating altcoin to own during this bull run due to its slow price movements. Besides a couple of spikes to $0.8-$0.9 area, XRP price remained mostly flat for the past year.
Despite the sluggish performance, the Ripple community remains massive, and analysts continue to make XRP price predictions, fueling the hope of investors.
XRP Price Forecast
Levi, a popular YouTuber with nearly 100,000 subscribers, posted a viral video today analyzing XRP’s potential and making a bold XRP price prediction. According to Levi, buying XRP today is akin to purchasing Bitcoin when it was trading at $1,000.
The video delves into the origins of XRP, which was created by some of the same engineers who worked on Bitcoin. These engineers recognized Bitcoin’s scalability issues and energy consumption concerns, prompting them to develop a more efficient digital asset – XRP.
In the video, Levi covers the potential and developments of XRP, highlighting its status as an open-source, decentralized technology similar to Bitcoin. While XRP’s progress has been hampered by the ongoing SEC lawsuit against Ripple, the video suggests that a resolution in Ripple’s favor could lead to an increase in XRP’s value.
Levi’s video outlines several factors contributing to his bullish XRP price prediction. First, global financial systems are developing principles for interactions with central bank digital currencies (CBDCs). It is believed that XRP could play a crucial role in this new financial system, potentially achieving a value of $50,000 per coin. The current economic situation, including the Federal Reserve’s monetary policy, is cited as supportive of this high valuation.
Additionally, the video explores the concept of gold-backed stablecoins. As leading economies turn back to gold and develop blockchain technology for these stablecoins, the XRP Ledger is positioned as a potential bridge currency. With its ISO compliance and proven track record, XRP could serve as a bridge currency for gold-backed stablecoins, potentially saving governments and financial institutions trillions of dollars.
Although Levi recommends setting an initial target of $1 per XRP coin, the long-term projection of a 50-fold increase from the current price levels is considered achievable. This optimistic outlook stems from the inefficiencies plaguing traditional financial systems and the advantages that XRP offers as a solution.
Lawyer Shares Thoughts on Ripple vs SEC Case
The Conservative Political Action Conference (CPAC) has raised concerns about William Hinman’s conduct while at the SEC, filing formal complaints with the New York and California Bar Associations. Andrew Langer, from CPAC, leads the charge, pointing to potential ethical breaches and conflicts of interest, specifically Hinman’s connections to the law firm Simpson Thacher & Bartlett, which represented the Enterprise Ethereum Alliance.
But it is all just a grand conspiracy of the XRP community 😂.
It is good summary and that is without even taking into account that the SEC started investigating Ripple, at a time when XRP was number 3 in market cap behind Ethereum, in April 2018 while the draft of the Hinman… https://t.co/D4j5j6vG1p
— bill morgan (@Belisarius2020) May 29, 2024
In response, XRP attorney Bill Morgan tweeted his thoughts, suggesting that the SEC’s actions against Ripple were part of a larger conspiracy involving the XRP community (he was ironic). He then argued that the SEC began investigating Ripple in April 2018, at a time when XRP was the third-largest cryptocurrency by market cap (behind only Ethereum and Bitcoin), while the draft of Hinman’s speech was being worked on by numerous SEC staff and attorneys. Morgan questioned the extent of corruption within the regulator.
XRP lags behind the meteoric rise of meme coins
While XRP is being outperformed by meme coins this bull, a new one called Dogeverse has been a hot topic in recent weeks due to its successful crypto presale, raising over $15 million. One of Dogeverse’s key features is its ability to operate across multiple blockchains, including Ethereum, Solana, Base, Binance Smart Chain, Polygon, and Avalanche. The multi-chain approach allows Dogeverse holders to easily move their tokens between different blockchain ecosystems, taking advantage of opportunities and features available on each chain.
Another potential meme coin to watch is WienerAi, an ERC-20 token built on the Ethereum blockchain, raised over $3.5 million in an ongoing presale. It aims to merge the worlds of AI, canine loyalty, and the love for sausages into a unique meme coin ecosystem. One of its key features is an AI-Powered Trading Bot that offers an advanced AI-powered trading bot using predictive technology to help traders find profitable opportunities in the crypto market. The bot acts as a personal trading companion, driven by data, trends, and math rather than greed or personal gain.
Conclusion
The XRP price prediction by Levi, along with the ongoing Ripple vs SEC case are interesting crypto news this week. As investors closely monitor the XRP chart and the developments surrounding the Ripple lawsuit, the potential impact on XRP’s price remains a topic of intense speculation and debate. Until XRP does anything significant in terms of price movements, potentially new meme coins to watch could be Dogeverse and WienerAI.
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