Is XRP Cryptocurrency Still Worth It? Analysis

The cryptocurrency XRP Is XRP still worth it? Given the developments and price breakouts over the past month, many investors are questioning whether Ripple’s native cryptocurrency is still worth it. In this regard, cryptocurrency investor Lark Dewis recently shared an analysis related to whether XRP is still worth it. it is worth it .

In his analysis, Dewis highlighted the XRP case with the Securities and Exchange Commission (SEC) and its impact on the cryptocurrency, as well as recent developments and how high the token's price could go.

In an impressive bullish rally that began last month, XRP has reached considerable milestones, rising by 337% in the last 30 days alone.

“XRP has surprised us with face-melting gains. For a long time, the running joke was that it was a stablecoin, as there was no excitement around this large-cap altcoin. However, within a few weeks, it broke the $3 barrier and made an impressive run to nearly $XNUMX — an impressive XNUMXx.”

SEC Case and its Impact

The SEC decided to wage war against Ripple in 2020, filing a lawsuit against the company, claiming that XRP was sold as an unregistered security. “This legal battle created uncertainty around XRP, causing its price to plummet and many exchanges to delist it,” Dewis said.

The legal dispute has been a landmark case in the industry. A court ruling in July 2023 ruled that XRP is not a security when sold on public exchanges, providing legal clarity to other crypto projects. There is anticipation in the community that the case close in 2025.

Is XRP cryptocurrency still worth it? How far can it go?

In your analysis , Dewis noted that XRP’s market cap is $135 billion and “asking for 1000% returns at this stage is highly unlikely. A 10x is a very long shot as that would take the market cap to $1,5 trillion.”

According to the chart analyzed, the 4,236 Fib level is around $7,3, which is approximately 3x. “However, there is no guarantee that this will be reached. Also, pay attention to the weekly close. It is forming a long wick at the top, which could be bearish.”

“Overall, XRP has survived the previous administration’s Chokepoint 2.0 and provided the industry with legal clarity. Another tailwind to watch is the approval of the RLUSD stablecoin,” he noted. “With Gensler out of the picture and a pro-crypto president taking office, chances are it still has upside. However, manage your return expectations as it already has a large market cap,” he added.

It is worth remembering that, in an official statement, Ripple informed that the delay in stablecoin launch RLUSD came about due to regulatory issues with the New York State Department of Financial Services (NYDFS). Ripple is getting closer to securing NYDFS approval for the RLUSD stablecoin.

At the time of publication, the price of XRP was quoted at US$2,33, down 1.0% in the last 24 hours.