Ripple President Says ‘Breakout Moment’ is Around the Corner – XRP Price Set to Soar to $1?

• President of Ripple, Monica Long, says that in 2024, crypto will break free from the speculative hype cycles that have defined the industry’s booms.
• Ripple’s focus on DeFi compliance could drive XRP towards mainstream adoption and increased value.

President of Ripple, Monica Long, recently stated that in 2024, crypto will break the speculative hype cycles that have defined the industry’s booms and busts since Bitcoin’s creation, paving the way for the next ‘crypto summer’. Despite the XRP price trending sideways, Monica Long is optimistic about the future, declaring a “breakout moment” is imminent.

She emphasizes that Ripple, as an industry leader, will break the cycle by laying the groundwork for real-world utility at scale. This includes addressing compliance, enhancing usability, and integrating seamlessly with existing financial systems.

As highlighted in In my recent tweet, Long further highlighted her vision of crypto breaking free from its speculative cycles, a significant departure from Bitcoin’s original speculative nature. She envisions 2024 as the year for XRP’s ‘Breakout Moment’, predicting it as a transformative period for the crypto sphere, especially in DeFi.

Monica Long, #Ripple's President, Foresees #XRP's 'Breakout Moment' in 2024, anticipating a game-changing year for the crypto sphere, especially in DeFi.

She envisions crypto breaking free from its speculative cycles, signifying a notable departure from #Bitcoin's origins.… pic.twitter.com/03M4JGioOX

— Collin Brown (@CollinBrownXRP) December 22, 2023

Furthermore, Long argues that digital assets won’t become mainstream unless the industry overcomes current barriers like the need for self-custody and reliance on decentralized exchange platforms. She advocates for the development of compliance tools in the decentralized environment, which she sees as the next frontier of innovation in blockchain.

We reached the tipping point for crypto to be recognized as mainstream, but we have yet to hit the breakout moment where institutional adoption for real-world utility takes off – 2024 can be that moment as long as we proceed with a compliance-first mindset.

Long also adds. The Ripple community is eagerly awaiting the settlement with the SEC, expected in 2024.

Ripple vs. SEC: Key Dates in 2024

The Ripple community is closely monitoring the progress of its settlement with the SEC, anticipated in 2024. Flip The Chain’s recent tweet outlines the key dates:

• 12th Feb 2024: Remedies briefing begins
• 13th March 2024: SEC files remedies brief
• 12th April 2024: Ripple submits opposition
• 29th April 2024: SEC replies

As previously reported by Crypto News Flash (CNF), Ripple’s case with the SEC, paralleled by Coinbase’s similar situation, is crucial for crypto legislation. This impending ‘Breakout Moment’ in 2024 could potentially catapult the XRP price to new heights, with expectations of it reaching $1.

At the time of writing, the resilience of XRP’s price is evident, valued at $0.6187, and showing a daily increase of 0.63% according to the corresponding price chart.