XRP Price Once Cardano Reaches $1.60, Analyst Reveals
XRP has demonstrated a strong performance in the past week, with a notable 7.38% surge in the weekly chart. Despite hitting a low of $0.5526 on August 15, the crypto asset is presently trading above the $0.60 mark.
XRP Potential Predicted Price at Cardano’s Mercy
In light of XRP’s impressive performance, several analysts have made optimistic projections for the coin’s future. Notably, popular crypto analyst STEPH has suggested that XRP could reach $2.5 by the year-end, contingent upon Cardano reaching $1.6 within the same timeframe. This projection is based on the close price correlation between XRP and Cardano. While XRP has seen a 7.38% surge in the past week, Cardano has experienced an 8.28% increase in the same period.
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However, the performance of both altcoins is tied to leading assets like Bitcoin (BTC) and Ethereum (ETH). For Cardano to reach $1.6, it would require a substantial 337.51% surge, while XRP would need a comparable growth rate of 316.11% to reach $2.5 from its current price of $0.6008.
Analyst XRP Future Target
As of the latest data, XRP is trading at $0.6008 per token, reflecting a 0.56% increase in the past 24 hours. The $2.5 target has gained attention within the XRP community, with some analysts and chartists anticipating that XRP may soon revisit this level.
Notably, some industry experts have forecasted a potential surge to $2.55 for XRP post the SEC lawsuit. Despite the final judgment of the SEC v. Ripple lawsuit, XRP has yet to achieve this milestone. Nonetheless, the resolution of the lawsuit has strengthened investor confidence in XRP, potentially setting the stage for a substantial price spike to $2.5.
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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.
