BULLISH FACTORS THAT WILL HELP XRP IN THE LONG TERM

Because of the rise in Altcoin pricing and the fact that Bitcoin's dominance has now dropped below the 50% mark after XRP's victory, the altcoin season is now being discussed. This indicates that compared to all other altcoins in the market, Bitcoin has a smaller market cap. The current dominance of Bitcoin decreased from 51.55% to 49.8%. Since then, Bitcoin has a market share of about 50%, but many members of the cryptocurrency community predict that the era of altcoins may soon return. In this scenario, Bitcoin's dominance would decline while Altcoins would continue to rise.

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If we look back at the development of altcoins, we must acknowledge that there has been a lot of FUD, and for good cause as well. Numerous attacks, litigation, crypto hacks, and sporadic Meme coin emergencies raised serious doubts about the genuineness of several of these altcoins. However, the SEC was largely merely firing blanks when it claimed that all of these altcoins were truly declared securities and that people may be in trouble. This was the main source of FUD. I believe that the resolution of the Ripple lawsuit signals a major, major turn in the optimistic direction for the entire cryptocurrency market.

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The state of the economy right now is incredibly intriguing. Since the S&P 500 has been on a roll again and there has been so much good news in the months of June and July, the stock market has actually experienced the biggest amount of inflow. Remember that there will be lots of scammers conducting these bogus Airdrops now that XRP is receiving so much attention. According to the Ripples CTO David Schwartz, many con artists are attempting to steal and defraud as a result of the recent positive news.

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Some indicators indicate that the current price increase for XRP might not just be a momentary response to the good news for Ripple. For instance, the period of XRP's significant price increase coincided with its trading volume reaching a 10-month high. The number of whale transactions for XRP, or wallets holding more than $100,000, increased to its highest level since 2023, suggesting that investors are particularly bullish on the cryptocurrency. The re-listing of the tokens on exchanges and the significant support that the XRP Community will receive are two additional positive aspects that will boost XRP in the long run. Long term, I do think that XRP will surpass the $1 barrier, especially when the bull market occurs, and it looks like the Bull Market will start in 2024. I estimate that there is an 80% to 90% chance or greater that things will return to those levels.