XRP (XRP) Long-Term Outlook Turns Bullish as Doctor Profit Highlights Its 60,000% Surge Potential

Crypto analyst Doctor Profit, in a new analysis report published post-ruling, highlighted the long-term potential of XRP.

After a prolonged legal battle with the US Securities and Exchange Commission (SEC), Ripple Labs has finally secured a partial victory. Judge Analisa Torres has ruled in favor of the company, ordering a payment of $125 million to the regulator. This ruling also澄清 that XRP, the cryptocurrency at the heart of the case, is not classified as a security. This marks a pivotal moment for the token's future outlook, with the SEC having maintained that XRP is an unregistered security since 2020.

Following this landmark decision, the sentiment surrounding XRP has turned increasingly bullish. In a new analysis report published after the ruling, crypto analyst Doctor Profit highlighted the long-term potential of XRP. Doctor Profit advised investors to adopt a patient approach, as opposed to short-term trading strategies, given that XRP is designed for long-term holding. The analyst pointed out that the token's price has ranged between $0.42 and $0.72 over the past year.

Highlighting XRP's past performance, Doctor Profit noted that the token surged by an incredible 60,000% in 2017. Despite setbacks like a major crash in 2020 caused by the SEC lawsuit, XRP has maintained a spot among the top 10 cryptocurrencies by market capitalization for over a decade, right next to Bitcoin. According to the analyst, the recent US court ruling, which confirmed that XRP is not a security, has brought much-needed regulatory clarity and optimism for the token's future.

Doctor Profit speculated on the possibility of a spot XRP Exchange-Traded Fund (ETF) in the pipeline, considering past ETF approvals, which started with Bitcoin, followed by Ethereum, and now potentially XRP.

With the lawsuit pressure out of the way, Doctor Profit expressed strong belief in XRP's bullish prospects, given the positive signals from both a regulatory and technical perspective. The technical analysis highlighted a key resistance level at $0.72, with a potential breakout indicating a bullish scenario for XRP's price trajectory.

Currently trading at $0.6150, the token has gained 23% in the last 24 hours alone, out of the entire market. If this continues, this key resistance level could be breached, considering the bullish momentum and regulatory clarity the token has gained following the court ruling.

If this and other higher levels are breached, Doctor Profit has outlined price targets for XRP, projecting a best-case scenario of $16 to $20 and a worst-case scenario of $4 to $7 within a one-year time frame. Finally, drawing on insights gained over four years of investing in XRP, Doctor Profit advised investors to focus on strategic buy zones and remain committed to the cryptocurrency for the long term.

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