- A top XRP proponent has made a case for why the bearish claims on the coin are overstretched.
- Under the most bullish setting, analysts see XRP soaring to a high of $50.
The price of Ripple Labs-backed XRP coin recently plummeted below $2.15, leading to speculations regarding its long-term sustainability. Nevertheless, leading analyst John Squire thinks that reports of XRP’s demise are wildly inflated.
Big Rally Loading for XRP
In an X post, Squire wrote, “XRP is not dead. It’s loading.” The analyst claims XRP is likely the biggest sleeping giant in crypto and noted that a big rally lies ahead.
Squire pointed out some key factors that could supercharge XRP’s potential rally. Firstly, he highlighted that XRP is not a new coin riding the latest hype. The coin has a 10-year setup, which Squire said many have ignored.
He added that Ripple continues to shine in the crypto space with its global payment network, RippleNet, active in over 55 countries. Major financial institutions like SBI, Santander, and Tranglo have also integrated the payments platform.
The long-standing resolution of the Ripple vs SEC case is another key factor Squire cited to ignite a bullish XRP move. According to Squire, XRP is the only top 10 coin to fight the U.S. government and survive. As outlined in our recent blog post, Ripple has agreed to a settlement after nearly five years of legal proceedings. Squire believes the final ruling, which is expected soon, will allow XRP to get legal clarity.
Furthermore, Squire pointed out a growing interest in XRP from big players. He said CME Group plans to launch XRP futures later this month, and there are ongoing rumors of a possible BlackRock XRP trust.
In our last update, we examined Coinbase’s official listing of XRP Futures Contracts on its US derivative exchange. This announcement comes after Bitnomial published the first XRP futures product regulated directly by the Commodity Futures Trading Commission (CFTC).
Squire also foresees the possible launch of an XRP Exchange-Traded Fund (ETF), upon clarity in crypto regulation. Moreover, Ripple remains focused on global payments, aiming at the $150 trillion market.
More Support for XRP
While many have called XRP “dead” due to its slow price action, Squire said the chart reveals otherwise. He notes that the price holds steady above $2, while the Relative Strength Index (RSI) is cooling off. Volume is also quietly building as investors shift their attention towards the altcoin.
Squire summarized that XRP is battle-tested, institutionally aligned, legally resilient, and technologically deployed.
At press time, the XRP price was $2.2, down 1.54% in the last 24 hours. It has a market cap of $129.6 billion. Despite the daily and weekly price declines, XRP is up over 3% in the past month, reinforcing its strength in the digital asset space.
In a recent update, we covered that Sistine Research predicted that XRP could surge to a price range of $33 to $50.
