The post XRP Price Eyes $10 Rally Amid Ripple’s Declining Escrow Stake appeared on BitcoinEthereumNews.com.

A top expert recently predicted the XRP price to hit $10 citing a flurry of reasons, which have sparked optimism among investors amid several positive market trends. Besides, the community also appears to have lauded the declining XRP stake of Ripple on Escrow, which many have deemed as a positive development. Notably, the crypto has gained notable traction lately, especially with the prolonged Ripple Vs SEC case. XRP Price Targets $10 Rally The popular figure in the crypto market, Ben Armstrong, also known as The BitBoy on X, shared a bullish forecast for XRP price recently. In a recent podcast with XRP enthusiast Edo Farina XRP, BitBoy predicts the crypto to hit $10, citing several reasons. Armstrong mentions a clear regulatory path for XRP for the rally ahead, saying that the Ripple SEC lawsuit doesn’t impact its price trajectory anymore. Although the case entered the appeal phase last month, BitBoy noted the case would not affect the crypto like the past bull run. He noted that previously, investors were concerned about the US SEC’s classification of crypto as a security, which is not the case anymore. He mentioned XRP as the “chosen institutional vehicle”, indicating that the investors are growing confident in the crypto’s potential despite legal hurdles. Besides, BitBoy also reiterated his belief that Ripple’s native crypto is poised to surpass Ethereum, further fueling discussions. Earlier this month, he said that XRP is poised to hit between $16 and $22 by 2025, potentially flipping Ethereum’s market cap. Ripple Escrow Stake Declines Sparking Optimism In a recent X post, pro-XRP lawyer Bill Morgan revealed that Ripple’s escrow holdings of XRP have decreased to below 39% of the total supply. This marks a significant drop from 55% in 2020, which he believes to be a positive development. Morgan considers this decrease…

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Filed under: News - @ November 4, 2024 7:20 am