6 Reasons XRP Price Could Hit $1 This Summer (Opinion)

Ripple’s XRP is one of the most undervalued cryptocurrencies, with several factors suggesting that its price could hit $1 this summer. These include legal successes, product developments, and market sentiment.

Points

• Ripple’s XRP could hit $1 this summer due to various factors.
• Key factors include legal successes, product developments, and market sentiment.
• The XRP Ledger’s growth and interoperability with Ethereum are also crucial.
• Increased user activity and potential IPO news could further boost XRP’s price.

Ripple’s XRP, often regarded as one of the most undervalued cryptocurrencies, has several factors working in its favor that could potentially drive its price to $1 this summer. Here are six key reasons why XRP might experience a significant price surge in the coming months.

1. Ripple’s Legal Successes
   The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission （SEC） has seen a series of legal wins for Ripple. These victories have bolstered investor confidence and could remove the overhang that has suppressed XRP’s price for years. A positive resolution could act as a major catalyst for XRP’s price growth.

2. XRP Ledger （XRPL） Development
   The XRP Ledger （XRPL） is poised to make significant strides in the DeFi space with its smart contract issuance layer. According to Dominic Kwok, founder of the EasyA app, 134,000 developers are learning about XRPL, indicating a strong developer interest. This growth in the developer community could lead to increased adoption and usage of XRP.

1. Interoperability with Ethereum
   Ripple’s collaboration with EvmosOrg to build an XRP Ledger EVM sidechain is a significant development. This sidechain will leverage Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 businesses, enhancing XRP’s interoperability with Ethereum. This interoperability could attract more developers and users to the XRP ecosystem.

2. International Growth
   XRP Ledger has made notable strides in Korea and Japan, two digitally engaged nations. Infinite Block, the only licensed VASP in South Korea, recently announced support for XRPL, furthering XRP’s adoption in the region. Ripple’s aggressive expansion efforts in these markets highlight the cryptocurrency’s growing international presence.

3. Increased User Activity
   Recent on-chain data shows a spike in XRP network transaction volume to levels unseen since February. Additionally, the number of addresses holding large amounts of XRP （1 million or more） has grown to over 2,000, reflecting increased interest and activity among whale investors.

4. Potential Ripple IPO
   Ripple Labs is actively exploring the possibility of going public. CEO Brad Garlinghouse has confirmed that Ripple is interested in an IPO, likely to occur outside of the U.S. due to the SEC’s hostile treatment. An IPO would generate significant investor interest and could lead to a substantial increase in XRP’s price.

Explanation

• Ripple’s legal successes and ongoing XRPL development are major factors driving XRP’s potential price increase.
• The collaboration with EvmosOrg enhances XRP’s interoperability with Ethereum, attracting more developers and users.
• International growth, particularly in Korea and Japan, highlights XRP’s expanding global presence.
• Increased user activity and the potential for a Ripple IPO add to the bullish outlook for XRP this summer.