Crypto analyst Ripple Pundit has made a bold prediction that the price of XRP could surge by 35,000%. This significant increase is contingent upon two key events. The first is the public announcement by Ripple of its banking license, which the company has applied for with the Office of the Comptroller of the Currency (OCC). The second event is the U.S. Securities and Exchange Commission (SEC) dropping its appeal in the ongoing lawsuit against Ripple.

Ripple Pundit stated that the XRP price could jump by over 35,000% on the day Ripple makes its banking license public. This move is expected to expand Ripple’s services, which is bullish for the XRP price, considering the altcoin’s role in Ripple’s payment solutions. As such, XRP is likely to record more adoption, especially from institutional investors, as the crypto firm onboard more clients through this banking license.

Another crypto pundit, Vincent Van Code, also agrees that a Ripple banking license could have a massive impact on the XRP price. He recently predicted that the altcoin could rally to between $30 and $50. Additionally, Brad Garlinghouse, the CEO of Ripple, declared his 1,000% commitment to XRP, indicating that the altcoin remains a huge part of the company’s plans.

Meanwhile, as Ripple Pundit predicts, an SEC announcement of its decision to drop its appeal in the lawsuit against Ripple would also boost the XRP price. Ripple has already announced its decision to drop its cross-appeal. All that is remaining for the long-running legal battle to end is for the Commission to also drop its appeal. A conclusion of the lawsuit would finally remove the legal uncertainty that had plagued the altcoin for a long while.

Crypto analyst CasiTrades declared that the next wave for the XRP price starts from the $2.23 level. She claimed that the altcoin has continued to show strength during this consolidation. The analyst added that the Ripple bank charter application added serious momentum at just the right time. The news helped push XRP above the $2.25 resistance.

Commenting on the current price action, CasiTrades stated that the XRP price is now seeing rejection at $2.268, which is the .382 retracement of the local wave. She remarked that this suggests that XRP needs another low before launching higher. The analyst said that based on the technical indicators, the next best entry is lining up at $2.235. She explained that this level is the .236 retracement and that multiple internal subwave targets are clustering there.

At the time of writing, the XRP price is trading at around $2.22.

A prominent analyst has predicted that the price of XRP, currently trading at $2.25, could surge by 35,000%, reaching approximately $789.80. This significant increase is contingent upon two major announcements. The first is the resolution of the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). A favorable outcome for Ripple could lead to increased adoption and legitimacy for XRP. The second catalyst is the potential listing of XRP on major cryptocurrency exchanges, which would provide greater liquidity and accessibility for investors.

The analyst’s prediction is based on the potential for increased adoption and usage of XRP. If XRP breaks through its current trading range of $2.17–$2.29, the price target could significantly surpass its previous high of $3.84. The prospects of a potential rally are further supported by the growing institutional interest in cryptocurrencies, which could drive demand for XRP.

The analyst also noted that the next leg up for XRP could be extremely parabolic, meaning that the price increase could be rapid and steep. This is based on the potential for a “God candle” breakout, which is a technical analysis term used to describe a large, bullish candlestick that signals a significant price increase. The analyst believes that this breakout could occur soon, further supporting the prediction of a 35,000% price increase.

However, it is important to note that this prediction is based on speculative analysis and should not be taken as financial advice. The cryptocurrency market is highly volatile and unpredictable, and there is no guarantee that XRP will experience a 35,000% price increase. Investors should conduct their own research and consider their risk tolerance before making any investment decisions.