Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Oliver Michael, the CEO of Tokentus, has again provided a bullish outlook for XRP. This time, he predicted that the altcoin could reach as high as $13 and outlined factors that could serve as catalysts for this significant price surge. XRP Eyes Surge To $13 With These Catalysts
Oliver Michael predicted in an interviewthat XRP could rally to $13 at some point if it sustained its current bullish momentum. He alluded to the Ripple SEC lawsuit, which just concluded and how it could spark several ripple effects, which would act as catalysts for the next leg up for the third-largest crypto by market cap. Related Reading XRP Takes On Live TV: Analyst Predicts Surge To $13 If This Happens 8 hours ago
One of these ripple effects is the potential approval of the XRP ETFs. Michael noted that the SEC can now go on to approve these funds since the legal battle against Ripple is over. Furthermore, he raised the possibility of BlackRock filing for an XRP ETF and indicated that the altcoin is likely to record a parabolic rally if this happens, considering BlackRock’s position as the world’s largest asset manager.
It is worth noting that BlackRock has saidthat it has no plans to file for an XRP ETF at the moment. However, XRP lawyer John Deaton believes that the world’s largest asset manager will still file to offer this fund within a year from now. If so, this could drive significant inflows into the XRP ecosystem, considering the success that the firm has recorded with its Bitcoin and Ethereum ETFs. More Catalysts For The Altcoin
Meanwhile, Oliver Michael also expects more Ripple partners to emerge now that the SEC lawsuit is over. This will help enhance XRP’s utility as more companies adopt Ripple’s payment services. Notably, the crypto firm has also made great strides to expand its presence globally by acquiring platforms like the stablecoin platform Railand brokerage firm Hidden Road. Related Reading XRP Price At $36: 7-Year Bottom Breakout Could Trigger Repeat Of 2014-2017 2 days ago
Another reason why the Tokentus CEO believes that XRP can reach this $13 price level is based on his expectation that retail investors will develop a greater interest in the altcoin now that Bitcoin and Ethereumhave already pumped significantly. Therefore, they will turn to XRP as the third-largest crypto, which may have more upside than BTC and ETH.
Michael remarked that XRP’s move to the upside could happen really fast, similar to its rally of over 300% from below $1 to $3 last year. The altcoin already rallied to as high as $3.6 this year, boasting a 33% year-to-date (YTD) gain. However, based on Michael’s prediction, the XRP price could still reach new highsin the coming months.
At the time of writing, the XRP price is trading at around $3.10, down in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $3.12 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com