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The native token of the XRP Ledger, $XRP, could see a significant price increase to potentially reach a bullish target of $30 in the short term, according to the founder and manager of Kralow Capital Thomas Kralow, who recently revealed his bullish prediction.
Kralow’s words come at a time in which a major player in the XRP space, Ripple, is locked in a legal battle with the U.S. Securities and Exchange Commission (SEC), with the regulator accusing the fintech firm of selling XRP as an unregistered security.
The fund manager suggested that Ripple’s advances in the case could further fuel speculation and drive XRP’s price higher in the coming three to four months. He pointed to a surge of interest among cryptocurrency market participants, highlighted by Google Trends data showing XRP searches growing.
Within the next three to four months, Kralow sees potential for XRP’s price to hit anywhere between $10 and $30, fueled by the immense speculative narratives surrounding Ripple.
The prediction is in line with that of other analysts, including a popular crypto market commentator recently revealing an ambitious XRP price prediction of $10 per token, based on several key events that could trigger rises for the cryptocurrency.
Per his words, the settlement of the ongoing legal battle could see XRP rise to $3.5, while a relisting on cryptocurrency exchanges that delisted the token could lead to $5.
He speculated that an initial public offering (IPO) from Ripple might push the price to $7, with strategic partnerships with banking institutions possibly elevating it to $10.
Similarly, Kralow noted that XRP’s rally could be boosted by a potential Ripple IPO and a favorable outcome for the fintech firm in its battle against the SEC. As reported, large XRP holders, colloquially known as whales in the cryptocurrency space, have reportedly amassed a staggering 1.1 billion XRP, equivalent to roughly $570 million, since February.