XRP has experienced an impressive 60.76% price increase recently, making it a standout performer among cryptocurrencies. The surge comes amid Bitcoin's rally toward the $90,000 mark. An analyst known as BarriC highlights several factors that could push XRP's price further, reaching a potential $100 value under specific scenarios.
One key factor cited by BarriC is Donald Trump's recent electoral victory, which may lead to a more crypto-friendly U.S. administration. This could ease the ongoing legal issues between Ripple and the SEC and enhance the chances of an XRP spot ETF approval, potentially driving XRP's price to between $15 and $20.
BarriC also suggests that an increase in XRP's utilization for cross-border transactions and institutional use could lead to significant global adoption. If this "utility run" occurs, XRP could reach the $100 price target. Additionally, recent whale activity shows a surge in XRP holdings, indicating investor confidence in its long-term performance.
Meanwhile, XRP currently trades at $0.89, with its market capitalization exceeding $50 billion and a substantial increase in trading volume. This aligns with growing speculations and potential shifts in the cryptocurrency regulatory landscape.
