Although XRP's price has been somewhat volatile over the past week, sentiment within the investor community and XRP analysis is becoming increasingly optimistic. A series of bold forecasts from experts, along with new advancements in the application of the XRP Ledger technology (XRPL), are helping to bolster confidence in the strong growth potential of this digital currency.

Analysts Agree: XRP is Undervalued

Cryptocurrency analyst known as CrediBULL believes the market is undervaluing XRP's potential. On the X platform (formerly Twitter), he emphasizes that XRP has maintained solid accumulation for 8 consecutive months above the highest monthly closing price ever recorded. This is a rare occurrence for crypto assets and a sign of preparation for a major breakout.

According to CrediBULL, a strong rebound from the $0.50 mark by the end of 2024 is a significant milestone. Currently, the monthly candlestick chart shows XRP forming a very tight cluster of candles around the $2.00 region – a price structure considered to be "the cleanest and most standard in the crypto space," second only to Bitcoin.

Explosive Forecast: Could XRP Increase by Up to 35,000%?

Another noteworthy analysis comes from an analyst known as Ripple Pundit, who claims that XRP could increase by 35,000% if Ripple receives a banking license. According to him, when Ripple is officially licensed and the prolonged legal battle with the SEC comes to an end, XRP will enter a powerful growth cycle due to significant inflows from traditional financial institutions.

Meanwhile, market commentator SMQKE recalls the strong price surge of XRP at the end of 2017 – early 2018, when Ripple co-founder Chris Larsen made it to the list of the richest people in the world due to XRP's meteoric rise from $0.00065 to $2.5. SMQKE believes that surge was merely a "starter" for a true explosive cycle that will occur in a fully regulated, well-prepared global environment.

Technical Analysis: Important Resistance at $2.38

Technical analyst Ali Martinez points out that the price level of $2.38 is the next important resistance zone for XRP. Based on on-chain data from Glassnode (URPD - Realized Price Distribution of Unspent Outputs), there is a large amount of XRP bought and accumulated in this area. If XRP surpasses this price level with high trading volume, it is likely to trigger FOMO, driving the price up significantly due to widespread buying interest.

Real-World Application: Tokenization of 200 Million USD Assets on the XRP Ledger

Not only attracting attention in terms of technical analysis and forecasts, XRP is also demonstrating value through real-world applications. Mercado Bitcoin – one of the largest digital asset platforms in Latin America – has just announced plans to tokenize over 200 million USD of traditional financial assets (including bonds and stocks) directly on the XRP Ledger.

This tokenization project not only enhances the usability of XRP in real life but also serves as a clear testament to the technological potential of XRPL in traditional finance. This will contribute to increasing the demand for XRP as a medium of payment and asset transfer on a global scale.

Conclusion

At the time of this writing, XRP is trading around $2.25, up 2% in the past 24 hours. Positive signals from technical analysis, market sentiment, as well as strong advancements in real-world applications suggest that XRP may be on the brink of a historic growth spurt.

However, investors should remain vigilant, closely monitor legal factors and global market developments to make reasonable investment decisions during this potentially rewarding yet risky phase.