The XRP price (XRP) has managed to remain green in the past 7 days despite the volatility introduced by the war between Iran and Israel.
The token has managed to stay above its $2 psychological support after briefly dropping below that level during the weekend.
This week, attorney John Deaton, a well-known supporter of Ripple who recently lost his bid for the U.S. Senate against Elizabeth Warren, commented that the blockchain company should take advantage of the positive environment in which cryptos are in to launch its initial public offering (IPO).
Leveraging the success of Circle’s IPO, Deaton believes that the market could value Ripple at as much as $100 billion.
“If @circle can hit a 62B-75B market cap then @Ripple, with nearly 40B XRP, currently valued at $2 (ie $80B), could certainly hit a $100B market cap in this environment,” Deaton asserted in an X post.
If Ripple does agree with his view, this would support a bullish XRP price prediction as it would contribute to raising the public’s awareness about the project and could further solidify Ripple’s bid to become the preferred cross-border payment platforms for global enterprises.
XRP Price Prediction: XRP Forms Bullish Pattern That Anticipates a Retest of Its Recent Highs
Looking at the 12-hour chart for XRP we can see that the token has formed a bullish pennant pattern as a result of the long-standing consolidation phase that came after its November 2024 rally.
Ripple’s legal victories against the U.S. Securities and Exchange Commission (SEC) and a change in leadership at the agency propelled the price of XRP near its all-time high.
Pennant patterns like this favor the continuation of the uptrend that once pushed the token to those levels. Hence, if the price breaks out above the $2.5 area, we could witness a retest of the $3.4 level soon.
Momentum indicators in this lower time frame have been improving as the Relative Strength Index (RSI) moved above 50, meaning that the uptrend has been gaining strength.
The $2 mark seems to be the most relevant support to watch. Another bounce above this area could provide the necessary liquidity for a rally toward a new ATH.
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The post [LIVE] XRP Price Prediction: John Deaton Says $100B Ripple Valuation Is Possible – Here’s What That Means for XRP appeared first on Cryptonews.
https://cryptonews.com/news/xrp-price-prediction-john-deaton-says-100b-ripple-valuation-is-possible-heres-what-that-means-for-xrp/
