The crypto world was shocked this week when the SEC announced a settlement in the long-running XRP lawsuit. The ruling declared XRP a non-security, freeing Ripple to fully operate without legal uncertainty. The judgment sent XRP price exploding to a new all-time high of $10.
In the hours after the favorable SEC ruling, XRP tripled in value as it surged from $3 to over $10 on a tsunami of buying volume. Exchanges reopened XRP trading to US investors for the first time in years, unleashing pent-up retail demand.
Major technical levels were smashed as XRP entered unprecedented price discovery mode. FOMO has spread like wildfire, with bulls calling for XRP to massively outperform Bitcoin in the coming bull cycle.
So with the floodgates now open, how high can this parabolic rally go? Here are some potential upside targets analysts are eyeing:
$20+ - A move above 3x the former all-time high is reasonable if momentum continues. This would mirror similar historic post-breakout moves.
$50 - Some maximalists are calling for a 10x move from current levels, which would take XRP briefly over $100 billion market capitalization.
$100 - Though sounding outrageous, a rally to triple digits cannot be ruled out in a manic melt-up, especially if Ripple announces game-changing partnerships.
$200 - The upper bound of realistic targets, this would likely require a massive short squeeze and crypto euphoria at all-time highs.
Of course, XRP is not without risks, and experts warn the rapid ascent could be building up to a strong correction. Profit-taking, whales dumping, and exchange technical issues could all hamper the rally at any time.
But for now, the XRP army is reveling in the removal of regulatory overhang and the realization of massive gains. With the stars aligned, XRP may indeed have much farther to run in this bullish melt-up. What an exciting time for long-suffering HODLers!
