Crypto Expert Predicts XRP Price to Hit US$22 in Latest Bull Run

In the midst of the spotlight on its status as no longer considered a security, crypto experts are making extraordinary predictions for the price of XRP in the next bull run. 

In a fascinating new interview, renowned crypto analyst Zach Rector talks with Patrick L. Riley, the visionary Founder of Ark Institute's Reaper Ascencion Index. This discussion focuses on the future of Ripple crypto in the expected upcoming bull market. 

Riley, a prominent figure in the crypto industry, shared his optimistic predictions for XRP. He predicted that this digital currency could reach unprecedented heights, surpassing previous records. 

In explaining his predictions, Riley stated that XRP is well positioned to reach new record highs, potentially reaching or surpassing US$22 in its next bull run.

Coin Edition reports that, this bullish view is based on the continued development of the XRP Ledger and its increasing adoption in the digital currency ecosystem. 

“The addition of the EVM sidechain to XRP will also drive the upside potential of this crypto,” he said.

Riley emphasized that many projects currently using ERC20 tokens will likely switch to XRP, attracted by the fast transaction finality and lower operational costs. 

Riley further reinforced his bullish view by projecting that even in a bear market, XRP could maintain a value above US$10. This is a striking prediction, especially considering that at the time of the interview, XRP was trading at around US$0.6165.

In a bold statement, Riley envisions XRP eventually surpassing Bitcoin as the leading crypto asset. 

He points out that while Bitcoin may be able to maintain a high price, its limited utility gives XRP a significant edge. Riley also noted the challenges Ethereum is facing, predicting these issues will drive capital flows towards XRP. 

Despite its potential, behind this crypto.

is trading well below its all-time high of US$2.4, reached in 2018. The market capitalization and price of the cryptocurrency suffered a major blow following the US Securities and Exchange Commission (SEC) lawsuit against Ripple Labs, the company behind the cryptocurrency.

However, with the lawsuit expected to reach a conclusion next year, Riley predicts that legal clarity regarding XRP's securities status will revive activity around the cryptocurrency.

Currently, XRP has a market capitalization of US$33 billion, placing it as the fifth largest crypto asset in the world. So far this year, XRP has experienced a significant surge of more than 73 percent.

On the other hand, a special series by The New York Times on global consumer behavior in 2024 featured President of Ripple Labs, Monica Long. This series, which gathers insights from a diverse range of entrepreneurs, business leaders and academics, aims to assess changing consumer patterns. 

"Traditional financial structures (TradFi) are increasingly inadequate in supporting the rapid pace of global commercial growth," said Long, reported by Crypto Potato.

He highlighted how, in response, developing countries are turning to cryptocurrencies such as BTC and XRP. Referring to reports from the IMF and the Financial Stability Board, he noted the cryptoization trend in economies struggling with macroeconomic instability and weak inflation control. 

This trend is visible as people in these regions show a preference for crypto assets over their local currencies. 

Additionally, the president of Ripple Labs pointed out that in addition to cryptocurrencies such as BTC and XRP, whose value is usually determined by market behavior, there is an increasing reliance on stablecoins.

“In Argentina, Zimbabwe and recently Nigeria, more and more people are turning to crypto or US dollar-backed stablecoins rather than their volatile home currencies to save and make purchases,” he said. 

TradFi, as defined by Techopedia, includes both the mainstream financial system and conventional institutions such as retail, investment and commercial banks. 

The IMF, in a 2022 article, emphasized the potential for decentralized finance (DeFi) and TradFi to coexist and collaboratively address critical global needs, such as funding renewable energy projects. However, the IMF emphasizes the need for clear standards and rules for this synergy to be effective.