Ripple Price Prediction: Analysts Have a $15 Target for XRP in the Bull Run as PlutoChain Gains Whale Interest

/PlutoChain/ – In late 2020, XRP’s price took a sharp hit when Ripple entered into a legal battle with the SEC.

But once Ripple secured a partial legal victory in 2023, things began to shift. XRP’s price skyrocketed, briefly touched $0.93, and then gained momentum in subsequent months.

Now, analysts believe XRP could grow even further in the upcoming bull run.

There’s also a new Layer-2 solution called PlutoChain ($PLUTO) that could redefine Bitcoin’s functionality and potentially add some massive new upgrades to its platform. Over 2 million PlutoChain tokens have already been sold during its presale.

Here’s a closer look at all these developments.

Could XRP Really Hit $15? Experts Weigh In and an In-Depth Look at Technical Charts

Technical analysis shows that there’s bullish momentum for XRP. RSI is at 65.54, which suggests that the asset is approaching overbought territory.

In terms of resistance levels, XRP faces significant barriers at $2.50 and $2.80. A successful breach of the $2.50 resistance could make testing the $2.80 mark possible.

At the same time, support levels are at $2.20 and $2.00, which may act as cushions against downward movements.

The 50-day simple moving average (SMA) is at $2.38, and the 200-day SMA is at $2.28. Both indicate an upward trend as the current price is above these averages.

As of December 13, 2024, XRP is trading at approximately $2.42, reflecting a 2.2% increase over the past 24 hours.

Some analysts think $15 isn’t out of reach for XRP, given the right conditions. CoinPedia projects that XRP could hit $15.65 by 2030. They base this on Ripple’s growing partnerships, the adoption of RippleNet, and regulatory clarity surrounding the token.

Ben Armstrong has made even bolder claims. He believes XRP could reach $15 in as little as 18 months and says that if Ripple successfully launches an initial public offering at the right time, the price could go as high as $35.

Analyst Javon Marks is also bullish, predicting XRP could soar to $15 or even $18. Marks points to technical indicators like bullish divergence and a strong Relative Strength Index (RSI) as signals that XRP is poised for a major rally.

PlutoChain Could Finally Open Up Bitcoin’s Potential for dApps

PlutoChain ($PLUTO) is a Layer-2 solution that could potentially bring smart contracts and dApps to the Bitcoin blockchain and bring upgrades.

Bitcoin has always been known for its security, but its 10-minute block time has limited its ability to support complex applications.

Other blockchains like Ethereum, Solana, and Cardano have stepped in to fill this gap with faster transaction speeds and more flexibility.

But PlutoChain wants to take a different approach.

With PlutoChain, the average block time can drop to just 2 seconds on its L2 chain. This change could allow developers to create and deploy smart contracts while still benefiting from Bitcoin’s security.

Its testnet has already proven its scalability by processing 43,000 transactions daily. This shows the network is ready to handle significant demand and is potentially well-prepared for real-world use cases.

One of PlutoChain’s most notable features is its focus on community governance. From day one, early adopters may be able to vote on protocol updates and help shape the network’s future.

Security has also been a top priority for PlutoChain. The platform has passed independent audits from SolidProof, QuillAudits, and Assure DeFi, which gives developers and users confidence in its reliability.

PlutoChain is compatible with Ethereum Virtual Machine (EVM) which could allow developers to migrate Ethereum-based projects to Bitcoin.

This could create a combination of Bitcoin’s security and Ethereum’s flexibility and make space for exciting new applications in DeFi, NFTs, and even AI.

For years, Bitcoin has been seen mainly as a store of value. While its security and decentralization are unmatched, it hasn’t been widely used for applications like DeFi or NFTs.

PlutoChain could change that by potentially enabling developers to build directly on Bitcoin’s infrastructure. With PlutoChain’s ability to support smart contracts and dApps, Bitcoin could become much more than just digital gold.

Conclusion

XRP has been able to bounce back from legal challenges and regain investor confidence, which proved how resilient it is. Its growing adoption in cross-border payments and bullish forecasts make it a strong contender for tremendous growth in the next bull run.

PlutoChain, on the other hand, is set to potentially redefine Bitcoin’s role in the blockchain space. It plans to enable smart contracts and dApps on Bitcoin and combine security and innovation.

It’s a project you may want to keep an eye on as it prepares for its mainnet launch.

Please keep in mind that this article is not financial advice. All crypto tokens are volatile, and trading involves risk. Always do your own research and consult a qualified expert before joining any crypto venture. Mention of any tokens in this article does not guarantee future performance. Statements regarding the future carry risks and are not assured to be updated.

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