In a recent tweet, Lucky, a prominent crypto figure and self-proclaimed Bitcoin OG, expressed optimism about the future of XRP, arguing that its price is closer to $1 or $10 than most enthusiasts envisage.
The Bitcoin proponent Lucky, with 2.2M X followers, highlighted the various factors that formed the foundation of his optimistic outlook on XRP. It included Ripple’s operational progress and projects on XRP Ledger (XRPL).
Been observing @Ripple's operations since the SEC win in July, I can't help but applaud the team for staying focused in their commitment to the $XRP community.
Few projects recover from such a drawn-out legal battle that cost them $200 million, but we've seen the Ripple team… pic.twitter.com/3uVbFinpj9
— Lucky (@LLuciano_BTC) October 26, 2023
XRP is Closer to $1 or $10
Lucky noted that XRP recorded notable double-digit percentage gains from its August dip. According to him, the reasons for the resurgence are discernable amid several pivotal efforts.
Firstly, Lucky pointed out the recently announced collaboration between Ripple and the pro-XRP US-based exchange Uphold. The partnership is expected to contribute to increased liquidity within the Ripple ecosystem. Lucky believes the Ripple-Uphold alliance is just one of the catalysts for the potential growth in XRP’s price.
Furthermore, he mentioned that Ripple has embarked on expanding XRP’s utilities on the XRPL with plans to facilitate the trading of non-fungible tokens (NFTs). According to the Bitcoin expert, this move could open the door for Ripple to tap into a $1.6 billion market.
Moreover, Lucky cited significant tractions XRPL-based projects such as the Xumm wallet has gained recently. The Crypto Basic disclosed on Wednesday that Xumm recorded over 400k active users so far this month. Cumulatively, Xumm saw over 600k active users since July.
Based on the highlighted development surrounding XRP, Lucky expressed conviction that the digital asset is poised for parabolic gains much sooner than later.
In his words:
“If I’m being honest, I’d say that the XRP price isn’t as far from $1 or $10 as we think.”
Meanwhile, Lucky commended the Ripple team for their unwavering commitment to the XRP community. He consented that only a few projects recover from a protracted and costly legal battle, which had drained $200 million from Ripple’s coffers. In parallel, Lucky emphasized Ripple’s impressive strides in recent weeks.
“We’ve seen the Ripple team announcing several impactful partnerships and integrations, including an increased use of Ripple payments with Bitstamp and Bitso as payment corridors,” he remarked.