XRP is one of three top candidates to lead the next altcoin rally, according to XRP price analysis by The Daily Hodl. After Ripple’s huge legal victory vs. the U.S., XRP is rocketing in the crypto-world. With large whale holders continuing to accumulate the token that’s helping to cement its status as one of the top contenders. Now, analysts are looking at price targets of $3, $4.85 and even $6.22 for the digital coin.
Ripple's Legal Victory Boosts XRP's Prospects
XRP has been riding high on the waves of Ripple’s legal victory over the U.S. This legal victory has sent confidence in XRP through the roof with many believing it has secured XRP’s future standing. With the helpful ruling, XRP no longer faces this significant obstacle, opening the door for what many expect to be dramatic growth and adoption of the currency.
The resulting legal clarity has brought a wave of renewed optimism among investors. Market participants are hopeful this will lead to even greater institutional interest and continued development of XRP-based solutions. That positive sentiment in turn is feeding into an increasingly prevalent belief that XRP may be poised to spearhead the next altcoin cycle.
Whale Accumulation Signals Strong Confidence
Based on available data, large whale holders own more than 12% of XRP’s circulating supply. This huge build up indicates very heavy belief on the future success of XRP. These massive accumulated positions by the key players historically have often set the table for substantial price moves.
With the relentless accumulation continuing by whales this clearly demonstrates that they believe XRP is undervalued and set for major future increases. Perhaps more importantly, their investment activity sends a powerful message to the broader market. This would lead to greater appeal to all kinds of investors and significantly increase demand for XRP.
Analysts Forecast Bullish Price Targets
According to analysts XRP is one to watch with some making bullish forecasts and predicting XRP price targets of the highest order. Forecasts even go as high as $3, $4.85 and even $6.22 for XRP. These targets come on the heels of XRP’s impressive trend upwards indicated there is a lot of growth left for XRP in the upcoming months.
These bullish predictions are based on a combination of factors, including Ripple's legal victory, whale accumulation, and the increasing adoption of XRP in various financial applications. If these factors continue to go in the right direction, XRP really can achieve the price valuations mentioned above. In doing so, it would further entrench itself as a leader in the altcoin market.
