Ripple price outlook as analyst highlights key factors

Ripple's XRP (CRYPTO:XRP) token has shown remarkable growth this year, trading around $2.42 as of now, marking a 300% increase since the start of 2024, according to CoinGecko data.

While some investors might consider selling after this substantial rise, an analyst, identified as Maxi, suggests waiting for seven critical developments before cashing out.

Maxi emphasised the importance of Ripple's stablecoin RLUSD, launched on December 17 and pegged to the US dollar.

The second factor centers on Donald Trump’s inauguration on January 20, 2025, which coincides with Gary Gensler's anticipated departure as SEC Chair.

Gensler's replacement, Paul Atkins, is seen as more supportive of the cryptocurrency sector, potentially fostering innovation-friendly regulations.

A settlement in the Ripple-SEC lawsuit is another pivotal factor.

The legal battle has lasted over four years, with Ripple scoring some partial victories.

The change in SEC leadership might accelerate a resolution favorable to Ripple.

Additional factors include the onset of an altcoin season, which could significantly boost XRP's price.

A partnership between Ripple and a major banking institution is another potential catalyst.

The analyst also pointed out the possibility of an XRP-based exchange-traded fund (ETF), which could drive institutional investment into the token.

Maxi set XRP price targets between $2.78 and $8.76 in the short term, with the potential for further growth if XRP reaches $10.

Maxi advises investors to keep an eye on these seven factors before making decisions.

These events could have significant implications for XRP’s price trajectory, offering insights for both short-term traders and long-term holders.

At the time of reporting, the price of XRP (XRP) was $2.26.