October 2024 is expected to be a critical month for XRP as several key events are predicted to occur that will influence its price and usage. In an X post on Wednesday, analyst JackTheRippler outlined several expectations, including the possibility of obtaining more apparent legal status and new price levels for XRP. He also pointed out that XRP could be used more extensively across different financial structures.
October 2024 could be a life changing month for #XRP holders:
– The SEC does not appeal.
– XRP reaches a new all time high.
– Mass adoption begins in the U.S.
– Tokenization begins on the XRPL.
– Central banks, banks and payment providers begin bridging currencies by using XRP. pic.twitter.com/HJoT6eUgY0— JackTheRippler ©️ (@RippleXrpie) September 25, 2024
SEC Decision Looms
Another reason the XRP community is hopeful is the belief that the SEC may not decide to appeal the case against Ripple. A legal war over whether XRP is a security has been a significant concern for the cryptocurrency. This has affected its uptake and how the market receives it. If the SEC does not appeal, then this might put a stop to the legal limbo for XRP in the US.
JackTheRippler also pointed to the possibility of XRP hitting a new all-time high in October 2024. XRP has seen previous record prices during a time when it wasn’t tangled in legal issues, though a favorable outcome of the SEC case could open the door to a significant price increase.
US Adoption Expands
Another significant change expected soon is the widespread use of XRP in the United States. With the regulations on the roll, US-based financial institutions, such as banks and payment providers, may begin to include XRP in their systems.
XRPL tokenization is expected to commence in October. Tokenization enables physical and digital assets to be tokenized in the blockchain for easier trading and management. Adopting tokenization on XRPL may generate new prospects for asset management and liquidity.
Bridge Currency Role
Another important aspect is that XRP can be used by central banks, banks, and payment providers as a currency bridge. As a bridge currency in cross-border transactions, it provides a better and cheaper solution to normal international money transfers.
Ripple Mints 485 RLUSD Tokens on Ethereum and XRPL Networks
Unlike the long-term predictions, another analyst, XRP Captain, has suggested a probability of high volatility in the price of Ripple by the end of this week. XRP Captain posted a theory that a large price pump or dump might happen, which is typical for the cryptocurrency market. At the time of writing, XRP is changing hands at $0.5898, which is 0.15% higher than its value a day ago.
#XRPHolders 🚨🚨 Huge Pump Or Dump For #XRP Before End Of Week 👀👀 pic.twitter.com/kziprMemLj
— XRP CAPTAIN (@UniverseTwenty) September 25, 2024
As October draws nearer, the XRP and cryptocurrency communities remain vigilant. The potential for regulatory certainty, increased mainstream adoption, and innovative advancements in cross-border transactions make this a critical month for any XRP investor.
