‘The Lollapalooza Effect!’ Analyst Announces Ripple Predictions

One market veteran says XRP is now facing the “Lollapalooza Effect.” Meanwhile, Ripple continues to develop without slowing down. XRP Ledger’s modification process allows for protocol changes.

XRP will go to these levels with the ‘Lollapalooza Effect’!

cryptokoin.comAs you follow from , Ripple also contributes to the creation of a positive atmosphere in the market. Analyst with the pseudonym EGRAG likens XRP’s potential growth to the “Lollapalooza Effect”. The analyst highlights that XRP’s unique regulatory status and key partnerships are key to its bullish outlook. EGRAG predicts short-term targets of $1.10 and $1.40 for XRP. He also predicts that the potential long-term peak will be $90.

The ‘Lollapalooza Effect’ was initially coined by investor Charlie Munger. This concept describes a scenario in which various psychological and behavioral factors come together to create a profound effect. Munger uses the “Lollapalooza Effect” to explain how the coming together of multiple forces can synergize an issue to produce extraordinary results. In the case of Ripple, EGRAG suggests that the asset is experiencing a similar impact. The basis for sentiment is a combination of factors surrounding the XRP ecosystem. In particular, the analyst highlights multiple psychological and behavioral forces that could collectively contribute to an extremely favorable outcome for XRP. Accordingly, the analyst has published a selected list of ten such influencing factors.

Analyst explains ‘Lollapalooza Effect’ for Ripple

At the top of the list is XRP’s regulatory status. EGRAG says XRP is the only cryptocurrency besides Bitcoin that has regulatory clarity. Therefore, he reiterates that it has a unique position in the crypto space. As you may recall, in July of this year, a US court ruled that XRP is not a security. The second and third issues that EGRAG drew attention to were XRP’s increasing partnerships with leading institutions. In September, Ripple shook hands with SBI Holding, Japan’s leading payment institution. SBI Holding announced that it has started using XRP for cross-border payments.

Other points impacting XRP mentioned by the analyst include interoperability, individual and corporate sentiments, micropayments for daily use, liquidity and market depth, and integration with payment providers. As a result, EGRAG says XRP has the potential to generate significant gains in the future.

XRP Ledger will add new functionality

XRP Ledger may gain new functionality in the coming weeks as the “fixReducedOffersV1” change, which fixes a minor issue with DEX offers, has received support from more than 80% of validators and is on a two-week countdown period. Ripple will activate fixReducedOffersV1 if the votes exceed 80% for two weeks.