XRP may face volatility as market waits for ‘concrete results’ — Analyst

A crypto analyst shared insights on the potential price fluctuations of XRP in the coming months, highlighting the impact of regulatory developments on the market. The analysis suggests that XRP’s price could vary between $0.50 and $0.80 by the end of 2024, with a keen focus on regulatory changes.

The recent appeal made by the United States regulator related to the case involving blockchain payments firm Ripple might influence market participants to adopt a more cautious approach towards XRP in the short term. While the appeal does not directly contest the classification of XRP as a security, it raises concerns regarding Ripple’s XRP sales and activities by key figures within the company.

The ongoing legal uncertainties could exacerbate XRP’s price volatility, potentially leading to significant fluctuations in its value. The analyst mentioned that the final price movement will heavily depend on regulatory developments and shifts in market sentiment, particularly in the U.S.

This hesitancy within the market could result in short-term price swings for XRP as investors await concrete outcomes from regulatory bodies. The analyst cautioned that a positive ruling or increased international support for Ripple could drive up XRP’s price, while an unfavorable decision may lead to a decline in value.

The appeal has introduced additional regulatory ambiguity, especially within the U.S. cryptocurrency sector, prompting investors to exercise caution due to the uncertain legal environment. The possibility of XRP exchange-traded funds (ETF) taking shape has also been highlighted, indicating potential future developments in the market.

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