XRP Community Speculates on $130 Price Target Amid Ripple vs. SEC Saga
In April 2020, David Schwartz, Ripple’s Chief Technology Officer, made an innocuous comment on an unprecedented 1,871% surge in Liberty Tripadvisor Class B shares (LTRPB). This surge was unusual in the traditional stock market, given its typically low volatility. LTRPB stock had soared from a close of $4.51 on April 14 to an astonishing $134 on April 15, 2020. Schwartz drew attention to this astronomical rise, expressing regret for not holding the stock despite having no prior involvement with it.
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However, the XRP community, known for interpreting ordinary situations in unique ways, has continued to speculate about Schwartz’s April 15, 2020 post. Many in the community believe it hints at a future where XRP could reach $130. The latest wave of remarks adding weight to this speculation comes from XRP Captain, a pseudonymous community member who suggests that April 2024 could be the ideal time for XRP to reach the elusive $130 target.
XRP Captain’s projection is based on a comparison of the scheduled pretrial and trial dates in the Ripple vs. SEC lawsuit with the date for the next Bitcoin halving, set to occur on April 25, 2024. Judge Analisa Torres recently denied the SEC’s motion to file an interlocutory appeal and set a trial date of April 23, 2024, with April 16, 2024, marked for the final pretrial conference.
Read Also: SEC Appeal Denied: XRP’s Legal Battle Ends, Prices Soar
The broader crypto community anticipates that the Bitcoin halving event will trigger a substantial bull run, positively impacting other crypto assets. Aligning the Bitcoin halving with the final pretrial conference date, XRP Captain suggests that April 2024 could be the opportune moment for XRP to reach the speculated $130 target.
JUST IN 🚨🚨 #Ripple Vs #Sec Settlement Following #bitcoin Halving. Perfect Time For #XRP To Hit 130$. I Hope Everyone Remember David Schwartz LTRPB. 👀👇 pic.twitter.com/QKFI1qfaL6
— XRP CAPTAIN (@UniverseTwenty) October 4, 2023
However, scepticism abounds within the XRP community regarding the feasibility of such a meteoric price increase within a short timeframe. As of the time of writing, XRP is trading at $0.5262. Achieving a $130 price in April 2024 would entail a staggering 24,605% surge within seven months. Furthermore, it would result in a market valuation of $6.9 trillion for XRP, which is over six times the current market capitalization of the entire crypto market.
While XRP enthusiasts are hopeful and speculative, it is essential to approach these projections with caution. The crypto market remains highly volatile, and achieving such substantial gains would require unprecedented developments and a significant shift in market dynamics. As the Ripple vs. SEC lawsuit unfolds, the crypto community will undoubtedly be watching closely, but the $130 XRP target remains speculative at this point.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
