TL;DR
- XRP experienced a notable, though glitch-induced, spike in its price observed on a cryptocurrency platform.
- Analysts are optimistic about a potential bull run, closely watching the outcome of Ripple’s lawsuit with the SEC, which may significantly impact the token’s future valuation.
Ripple’s XRP has been hovering between $0.60 and $0.70 in the past several weeks, currently standing at the lower mark.
Several X users, though, noted in the past few hours that the asset’s price has exploded to an all-time high of a whopping $74. The remarkable target was supposedly observed on the cryptocurrency platform Atlantis Exchange, but it turned out to be a short-lived glitch.
The malfunction came a few days after Atlantis Exchange introduced trading services with XRP. Upon doing so, the company claimed the token has the potential for huge returns.
A similar glitch showing that XRP’s valuation has reached unprecedented levels occurred last year, too. As CryptoPotato reported, a bug on Crypto.com’s application signaled that the price has skyrocketed to almost $250.
Despite not performing quite well as of late, numerous analysts remain optimistic that XRP is on the verge of a bull run that could take it to a new ATH in the near future.
One essential factor that might influence the potential surge is the outcome of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC).
The trial between the entities is scheduled for April 23, but the resolution of the case could be delayed by a few years due to appeals from both sides.
Those willing to explore additional elements hinting that XRP is poised for a substantial rally in 2024, feel free to watch our dedicated video below:
