Mickle, a well-known figure in the XRP community, predicts that new U.S. crypto regulations are imminent. He believes these regulations could lead to a 1,000X spike in XRP’s value.
The prediction aligns with the current focus on crypto regulations as the U.S. approaches election season.
The crypto community has gained significant attention from presidential candidates as elections approach. Candidates have recognized that support from the crypto industry could be crucial in the upcoming elections.
Moreover, amid these developments, the U.S. SEC has adopted a more lenient regulatory approach toward cryptocurrencies.
Recently, the SEC approved spot Ethereum ETFs, following the earlier approval of Bitcoin ETFs. This approval signals a shift in the SEC’s stance on cryptocurrency regulation.
Furthermore, the SEC ended its investigation into Paxos Trust Company for issuing BUSD last month. The regulator said it would not pursue any legal actions for securities violations against the company.
Also, the SEC has decided to retract its assertions that coins like SOL, MATIC, and ADA are securities in its case against Binance and Coinbase.
These moves by the SEC seem to be an attempt to win support from the crypto community. Moreover, the crypto community has been vocal in backing GOP candidate Donald Trump.
XRP Breakout! 🚀1000X? pic.twitter.com/U3v3otvbHE
— mickle (@xrpmickle) July 31, 2024
Based on this, Mickel hinted on July 31 that there could be a major change in U.S. politics. He believes this shift could lead to a substantial breakout for top cryptocurrencies. As the election season heats up, the crypto industry’s influence grows, making it a key factor in the political arena.
Mickle’s Bold Prediction for XRP
Mickel mentions XRP as one of the coins set for a significant rally. He believes the coin could benefit greatly from this major political shift.
Moreover, the analyst showed an XRP monthly chart featuring the Bollinger Bands in his presentation. The data shows that the Bollinger Bands are now very narrow.
According to him, this tight pattern usually occurs before a significant price surge. For instance, before XRP spiked to $3.31 in 2017 and rallied to $1.96 in 2021, the Bollinger Bands exhibited similar behavior.
Since this pattern is repeating, Mickel thinks a new price surge might be coming soon. Given these observations, he has made a bold prediction, forecasting a huge 1,000x increase in XRP’s value. According to Mickel, such a massive increase could lead to a $582 price for XRP.
Although this prediction is highly optimistic, it reflects Mickle’s confidence in the potential for future growth.
Given its current valuation, achieving a price of $582 would result in XRP’s market cap reaching $32.58 trillion, which is much larger than Gold and BTC’s current market caps.
Several X users see this target as an unrealistic goal. While a 1,000x increase may seem impossible, the possibility of a major rally cannot be entirely dismissed.
Why 1000x you know that’s inpossible. In such a short periode. This makes you not credible
— Ruud Hakstege (@RuudHakstege12) July 31, 2024
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
Our Editorial Process
The Tech Report editorial policy is centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written by real authors.
