Despite the crash that hit the crypto market this week, a rebound is expected for a plethora of tokens. Among them is Ripple, which could surge based on a recent VanEck prediction that paves the way for XRP to reach $25. The asset has already shown signs of a bounce back.
Throughout July, XRP was one of the biggest gainers in crypto. The asset had increased more than 35% and was firmly set above the $0.6 level. That changed this week. Yet, with the asset fighting to return to these levels, it could be the start of an extended run. That is especially true if one firm’s crypto forecast is accurate.
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VanEck Bitcoin Forecast Could Mean New Highs for XRP
Entering 2024, Ripple (XRP) showed immense potential. The asset was headed toward an end to its ongoing lawsuit with the US Securities and Exchange Commission (SEC). Although that had been coming to fruition, it derailed with the arrival of August. However, it may not be the end of hope for the asset this year.
One report notes that Ripple could be set to skyrocket if a prediction by VanEck comes to fruition; with XRP targeting a surge to $25. In a recent report from the firm’s Head of Digital Asset Research, Matthew Sigel, Bitcoin is projected to reach a price of $2.9 million by the year 2050.
This has led many to ponder where other assets could reach if that prediction comes true. With Bitcoin leading the crypto market, it offers an interesting reference point for the industry. That would lead to the $25 target, but it has also produced some even more optimistic projections for the cryptocurrency.
Also Read: Easy Method To Make $1 Million If Ripple XRP Reaches $1
Crypto analyst Javon Marks took to X (formerly Twitter) to share his perspective. Specifically, he notes that Ripple is showing bullish indicators between the price action and RSI. Moreover, he predicts a $15 breakout “on this horizon!”
They also note that a 20x increase is set to follow. That would put the increased target to above the $100 level. Although this is rather high, it is not entirely out of the question. As the market recovers from the crash, many tokens have the potential to catch some fire on the way up.
Over the last 24 hours, Ripple has increased more than 5%, according to CoinMarketCap. Yet, the recent crash has left it down more than 18% in the last seven days to its current $0.515 level.
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