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Mon. Jul 22nd, 2024

How high can XRP go if Bitcoin reaches $155,000?

By Vaseline May31,2024
How high can XRP go if Bitcoin reaches 5,000?

Ripple’s XRP token is struggling to overcome the $0.55 barrier. The asset is up 1.2% on the daily charts and 6.1% over the past month. However, the price of XRP has fallen by 0.7% on both the weekly and 14-day charts.

Source: CoinGecko

Also read: XRP, Solana and Cardano ETFs are inevitable, claims Ripple CEO

Bitcoin (BTC) is the current market leader and other assets are following its trajectory. If BTC recovers, other cryptocurrencies will likely follow suit. The native crypto reached an all-time high of $73,737 in March, following the decision of the US SEC (Securities and Exchange Commission) to approve 11 spot BTC ETFs (Exchange Traded Funds).

How High Will Ripple’s XRP Go If Bitcoin Hits $155,000?

Ripple xrpRipple xrp
Source – Crypto Adventure

According to AI chatbot ChatGPT (Artificial Intelligence), if BTC reaches $155,000, XRP could rise to a new peak of $4.41. Reaching $4.41 from current levels would translate to nearly 750% growth.

Ripple’s XRP token hit an all-time high of $3.40 in January 2018, more than six years ago. The asset is currently down nearly 85% from its 2018 peak.

Also Read: How High Can Ripple XRP Go If It Reaches $3 Trillion Market Cap?

However, before we jump to conclusions, it should be noted that one of the main drags on the price of XRP is the ongoing lawsuit between Ripple and the US SEC (Securities and Exchange Commission). The SEC alleges that Ripple participated in the sale of unregistered securities. Last year, a US court ruled that the sale of XRP to retail customers did not violate securities laws. However, the lawsuit has been filed in the Supreme Court and investors are awaiting a verdict. If the Supreme Court rules the same way as the district court, we could witness a sudden price spike for XRP.

Therefore, Bitcoin (BTC) reaching $155,000 may not be enough for Ripple’s XRP to rise. The asset may need an extra boost, such as a positive ruling in the SEC vs. Ripple lawsuit.

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