Due to regulatory hurdles, XRP failed to initiate a significant rally alongside other notable cryptocurrency assets like Bitcoin and Ethereum in the 2021 bull cycle. There has been much speculation about when the altcoin will surge again. However, a market expert has recently shared insights into when the actual price impact for XRP will develop, indicating a positive future for the crypto asset.
SMQKE, an observer and researcher of Current Tech Shift, has disclosed the period for the much-anticipated rally for XRP to come to light, emphasizing the key developments that may influence the value of the digital asset in the future. The expert bases his prediction on recent developments around the Ripple-Russia Presentation, which implies that major confirmation was provided that all of the big banks that have teamed up with Ripple, including leading institutions crucial to the system like Standard Chartered, Santander, and Bank of America, are currently running in test mode.
SMQKE explained that if these major banks are still in the testing phase, it means they have not yet fully integrated Ripple’s technology into their daily operations. Because of this, XRP has been unable to move significantly despite its potential utility. While the altcoin may be struggling to undergo a major price upswing, SMQKE asserts that this development is encouraging for XRP’s future as systemically important banks are participating in ongoing testing.
The researcher is confident that once these tests are completed and the big banks transition to full-scale adoption of Ripple’s technology, the real price effect for XRP will take place. This is anticipated because successful conclusion of these tests will create a greater need for XRP as a utility asset in financial transactions, potentially resulting in a sharp increase in the altcoin’s price.
According to the expert, the market could currently be in a “wait and see” phase. Investors might be delaying pushing up XRP’s price until they see definite evidence of widespread acceptance and regulatory certainty around the asset. The legal litigation between Ripple and the United States Securities and Exchange Commission (SEC) has been a major roadblock for the potential of XRP. SMQKE’s insights suggest that investors await the lawsuit’s conclusion before committing massive capital into the crypto asset market.
Should the lawsuit be resolved and Ripple’s technology integration tests with big banks go live, there is a strong chance that the value of XRP will witness a notable price rally, possibly reaching new all-time highs. XRP is currently trading at $0.58.
