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A notable real estate millionaire mentor in the crypto community has argued that a new all-time high for XRP in this cycle is inevitable.
In a recent post on X, “The Bearable Bull,” a widely followed millionaire mentor conveyed that a fresh ATH is inescapable for XRP. According to him, there is zero chance XRP would not surpass its $3.84 by the end of this bull cycle. He went on to highlight factors influencing his confidence.
There Is A 0% Chance XRP Won’t Go To New All Time Highs This Cycle
XRP Has Been Dependent On Bitcoin To Rise Before It Can Rise In Price
In This Cycle So Far We’ve Seen A BTC ETF Approved & New All Time High Values
Next The ETH ETF Is Approved & Likely A New All Time High Is… pic.twitter.com/CGzareRYOw
— The Bearable Bull (@thebearablebull) July 24, 2024
Why XRP “Must” Break New ATH This Cycle
Notably, XRP sells for $0.6113, trading 84.19% below its 2018 ATH. The commentator first underscored that XRP, like most other altcoins, largely depended on Bitcoin’s upswing for its bullish rally.
As a result, he highlighted that Bitcoin has gotten a major catalyst for continued uptrend: spot ETFs. He noted that the emergence of exchange-traded funds investing in BTC propelled the premier crypto to an ATH in Q1. Notably, the altcoin market followed suit, with some setting a new peak while others came close.
With a similar product now live for Ethereum, The Bearable Bull anticipates Q3 to be similarly bullish for ETH and other altcoins like XRP.
Moreover, the crypto pundit pointed out that XRP could soon be getting an ETF, strengthening his bullish perspective on XRP. The argument favoring an XRP ETF after Bitcoin and Ethereum is its regulatory clarity and market prominence.
As a result, leading voices in the crypto community believe XRP ETF is inevitable, though they disagree on the timeline.
Meanwhile, the millionaire mentor emphasized that a bullish outlook for XRP is further reinforced by the current state of the stock market, which is exhibiting levels that support a bullish context.
With the projection of Bitcoin rallying above $100,000 in this cycle, he expects XRP to follow suit, ultimately establishing a new all-time high.
XRP Unique Bullish Catalysts for ATH Run
Furthermore, the commentator highlighted that XRP has its own unique bullish catalysts that should propel it to new all-time highs. These include its relisting on prominent crypto exchanges, the activation of automated market makers(AMMs), and the Xahau sidechain.
Additionally, he pointed to several upcoming events that could further boost XRP’s prospects. These include the imminent resolution of the Ripple lawsuit, the launch of the Ripple stablecoin (RLUSD), and the potential Ripple IPO.
He also noted that cryptocurrencies are becoming a key topic in the U.S. elections, which could positively impact crypto assets like XRP.
Ultimately, he cited XRP’s potential to replicate historical patterns, particularly the 2017 situation in which it recorded an over 60,000% surge.
Based on these factors, he expressed unwavering confidence that there is a 0% chance XRP will not reach new all-time highs this cycle. In his view, it is no longer a question of “if” but “when” XRP will achieve the milestone.