10 Reasons Why XRP Could Be on Its Way to the Ambitious $10 Mark

A market commentator recently highlighted ten reasons he believes XRP could be on its way to the ambitious $10 mark.

A market commentator has outlined ten possible reasons why XRP could be headed for an ambitious price target of $10.

The recent uptrend in XRP has sparked optimism among traders, especially following the altcoin’s breach of the $1 level. To reach $10, XRP would need to experience an increase of over 809%. While this may seem like a distant goal, some believe it is within the realm of possibility.

Here are ten factors that could contribute to XRP hitting $10.

۱٫ Resolution of SEC Lawsuit and Clear Regulatory Status

One crucial factor that could propel XRP’s price is the conclusion of its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Despite the SEC’s decision to appeal the court’s ruling, there are speculations that a settlement could be reached once a more pro-crypto candidate replaces Gary Gensler as SEC Chair.

Notably, the Donald Trump transition team is reportedly considering several crypto-friendly individuals, such as Teresa Guillen, for the role. If the XRP lawsuit is resolved and the asset’s regulatory status is clarified, it could unleash pent-up market potential, leading to a price surge.

۲٫ XRP’s Unique Position with Clear U.S. Regulation

Another factor that could contribute to XRP’s price increase is its unique position as the only cryptocurrency that has achieved regulatory clarity in the U.S. This opens the door for broader institutional adoption of XRP.

In July last year, Judge Analisa Torres ruled that XRP is not a security, a decision that could pave the way for a range of possibilities, including the launch of XRP ETFs and increased institutional interest.

۳٫ Issuance of Ripple’s Stablecoin (RLUSD) on XRPL

Farina also highlights the role of the XRP Ledger (XRPL) in supporting the issuance of Ripple’s native stablecoin, RLUSD, as a key factor.

Ripple has confirmed that it will launch RLUSD on both the XRPL and Ethereum. The stablecoin is reportedly ready for launch, pending regulatory approval.

According to Ripple, RLUSD will complement XRP, further enhancing the asset’s utility and appeal.

۴٫ Pro-Crypto Policies and Gensler’s Resignation

With Donald Trump aiming to assume office in January 2025 and his administration’s pro-crypto stance, this could be another factor that bodes well for XRP’s prospects.

Over the years, there have been interactions between Ripple executives and influential policymakers, suggesting a favorable regulatory environment under pro-crypto leadership.

۵٫ Introduction of a Pro-Crypto SEC Chairperson

Farina also suggests that if Trump were to fire Gensler or the SEC Chair were to resign, the introduction of a pro-crypto SEC Chairperson could bolster XRP’s chances of reaching $10.

For his fifth reason, Farina points out that the U.S. crypto regulatory landscape could shift dramatically if Gensler were to step down or be removed from his post.

With a pro-crypto SEC Chair at the helm, the regulatory environment for XRP and other digital assets could become more favorable, opening up new avenues for growth.

۶٫ XRP’s Technological Superiority: “Bitcoin 2.0”

Describing XRP as a "technological marvel," Farina highlights this aspect as the sixth reason for his belief that XRP could reach $10. He goes so far as to dub XRP "Bitcoin 2.0," suggesting it is an updated and improved version of Bitcoin.

According to Farina, XRP's ability to settle transactions in under three seconds at negligible fees sets it apart from competitors like Bitcoin, Ethereum, and Solana. This capability makes XRP a prime candidate for real-world financial applications, which could boost its chances of hitting $10.

۷٫ Launch of XRP ETFs to Boost Institutional Adoption

Pointing to the potential launch of XRP ETFs, Farina identifies this factor as another catalyst that could propel XRP to $10. He anticipates a surge in XRP ETFs by 2025, driven by growing institutional interest.

Notably, several asset managers, including Bitwise, Canary Capital, and 21Shares, have already filed to launch XRP ETFs. Additionally, Grayscale is seeking to convert its multi-asset fund, which contains XRP, into an ETF.

With institutional FOMO (fear of missing out) on the rise, financial entities may rush to add XRP to their portfolios, further boosting its price.

۸٫ Ripple's Anticipated IPO to Enhance Visibility

Highlighting Ripple's anticipated initial public offering (IPO), Farina presents this event as the eighth factor that could contribute to XRP hitting $10.

According to Farina, a public listing on a major stock exchange would boost Ripple's visibility, attracting more investors and heightening interest in the XRP ecosystem.

While Ripple CEO Brad Garlinghouse previously dismissed the idea of a U.S. IPO, the landscape could shift with the Trump administration