The cryptocurrency market is witnessing a resurgence as Bitcoin leads a recovery phase, with Ripple‘s XRP capturing investor interest due to buoyant predictions from pro-XRP lawyer Bill Morgan. Morgan anticipates that XRP will achieve a significant price surge within the year, potentially reaching or surpassing its all-time high of $3.84 set in January 2018. His forecast has garnered attention from investors and market watchers alike.
Bill Morgan Highlights XRP’s Seasonal Strength
Morgan has pointed to historical performance data to suggest that XRP typically sees strong returns in the second and fourth quarters of the year. He believes this pattern showcases the crypto asset’s growth potential. By examining market trends and historical activity, the lawyer underscores the altcoin’s promising outlook for the coming months.
In his bullish case for XRP, Morgan cites several key factors that could fuel its ascent. A pivotal element is the expectation that the U.S. Securities and Exchange Commission (SEC) may officially recognize XRP as not being a security, a decision that could have major implications for the asset’s legal standing and tradeability. Additionally, the market is closely watching the outcome of the ongoing legal battle between the SEC and Ripple, which is anticipated to bring legal clarity to XRP.
Community Support Bolsters Positive Outlook
Morgan’s positive stance on XRP is echoed by other enthusiasts like Moon Lambo, who advocate for investors to concentrate on XRP’s potential and impending legal clarity rather than the SEC-Ripple case. Further buoying investor sentiment, Bitcoin’s recent performance has been seen as an indicator of a broader market upturn, which may also bode well for XRP.
Despite the ongoing legal wrangles, data indicates a slight uptick in XRP’s price in the last 24 hours, with it trading at $0.6308. The asset’s trading volume has been stable, and its price has oscillated within a narrow band, reinforcing the community’s belief in its resilience and long-term potential.