However, according to one investor, known by the pseudonym Rize Research, the cross-border payments-focused token is poised for multi-year growth. In fact, the investor says that broader timeframe chart formations and historical fractal patterns suggest XRP sits at a “multi-year support,” with upside projections reaching up to $27.16 per coin in a conservative scenario. That would represent a gain of more than 2,000% from current levels.
Whether that happens remains to be seen, but technicals aside, following a five-year battle with the SEC over whether XRP should be considered a security, Rize thinks that Ripple, the company behind XRP, is stronger than ever.
“Ripple signed new banking partnerships, completed acquisitions, launched a stablecoin, and secured a conditionally approved national banking charter across five years of active SEC enforcement, which is not the behavior of a throwaway crypto issuer but is instead that of a legitimate company looking to make and secure real innovations,” Rize says.
Instead of settling, the company pursued litigation for nearly five years, secured a landmark ruling on whether XRP qualifies as a security, and ultimately resolved the remaining claims for $50 million versus an initial $2 billion demand.
