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Cryptocurrency News Articles

XRP Price Predictions: Can XRP Reclaim Its Position as the Legal and Regulatory Landscape Evolves?

Nov 11, 2024 at 05:01 am

Crypto commentator Julius Rose has made a bold statement, asserting that anyone not guiding investors toward XRP is misleading them.

XRP Price Predictions: Can XRP Reclaim Its Position as the Legal and Regulatory Landscape Evolves?

Crypto commentator Julius Rose has made a bold statement, asserting that anyone not guiding investors toward XRP is misleading them. His remarks, shared on Twitter, came just as XRP rose to a five-week high of $0.57.

At the time of writing, XRP was trading at $0.5521, reflecting a 7.6% gain over the past week. The token’s recent rise follows a period of relatively subdued performance in recent years. While XRP remains a favorite among long-term holders, its lack of price action relative to other cryptocurrencies has caused frustration.

However, Rose’s comments suggest that he sees significant long-term potential for the asset, even if others are more cautious about its short-term outlook. XRP’s recent gains are modest compared to its rivals. In the past week, XRP gained 7.6%, but other cryptocurrencies like Solana (SOL) and Ethereum (ETH) have outperformed it.

Solana saw a 21% increase, and Ethereum was up 21% as well. On a monthly basis, Solana has risen 50%, while Ethereum is up 30%. In contrast, XRP has increased by just 3% in the same timeframe.

Year-to-date, the performance gap between XRP and its peers is even more pronounced. XRP is down 10% for the year, while Solana has surged by 97% and Binance Coin (BNB) has gained 101%. This disparity in performance has led some in the crypto community to question whether XRP will be able to keep up during the current bull market, especially as other altcoins continue to rise.

Despite these struggles, Ripple CEO Brad Garlinghouse remains confident about XRP’s future. Garlinghouse has recently expressed optimism, suggesting that regulatory changes under a potential Trump administration could provide a more favorable environment for XRP.

Trump’s plan to replace SEC Chairman Gary Gensler with someone more crypto-friendly is seen by Garlinghouse as an opportunity to remove the regulatory hurdles that have hindered Ripple’s growth.

Ripple’s ongoing legal battle with the SEC, which is questioning whether XRP should be classified as a security, has been a significant obstacle for the cryptocurrency. However, Garlinghouse is hopeful that with a change in the U.S. administration and clearer regulations, XRP could regain momentum and return to prominence in the market.

Julius Rose, known for his direct and often controversial views on crypto, has recently expressed strong support for XRP. He has stated that anyone not directing investors toward XRP is “misleading” them, reflecting his belief in the asset’s potential.

However, it’s worth noting that Rose’s history of skepticism toward XRP is also relevant. Just a few days earlier, he predicted that XRP wouldn’t reach a new all-time high in 2024, dismissing the hopes of many optimistic holders. He even suggested that XRP might not reach a new all-time high in 2025.

This shift in tone has raised some questions about Rose’s stance on XRP. Is this a genuine endorsement of the cryptocurrency’s future potential, or is it simply part of his ongoing back-and-forth commentary?

Regardless, his latest statement comes at a time when other major cryptocurrencies, such as Bitcoin, have been posting new all-time highs, and XRP has shown some signs of life, even if its performance has been underwhelming compared to its competitors.

While the ongoing legal issues and regulatory uncertainty have weighed heavily on XRP, the cryptocurrency continues to maintain a loyal following. Ripple’s legal battle with the SEC has created significant challenges for the asset, especially in the U.S. market.

But as Ripple CEO Brad Garlinghouse has noted, the situation could improve with changes in leadership and policy.

Although XRP’s price has been disappointing for many holders, recent signs of upward movement, combined with optimistic forecasts from figures like Garlinghouse, offer some hope. If Ripple can successfully resolve its legal challenges and the regulatory environment becomes more favorable, XRP could experience a revival in the near future.

Julius Rose’s recent comments reflect an interesting shift in his outlook on XRP. While he has been critical in the past, his current praise for the token could signal growing confidence in its future.

Whether XRP can reclaim its former glory in the cryptocurrency space remains uncertain, but the crypto community continues to watch closely as the legal and regulatory landscape evolves.

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Other articles published on Nov 14, 2024