Digital asset bull and social influencer John Squire has projected a bullish outlook for XRP. Amid the growing market uncertainty, crypto bulls have heightened expectations of a large recovery. This applies to Bitcoin and altcoins, although XRP and Solana (SOL) holders expect larger rebounds due to spot ETF anticipation in the United States.

XRP Bulls Back Massive Recovery

In a recent X post, John Squire predicted that XRP’s upward swing would lead to early retirements. Several crypto enthusiasts, citing a slew of on-chain factors, expect positive price growth in XRP and other altcoins. Following the bull run in Q4 2024, dominated by an influx of institutional investors, XRP holders speculated on a $6 price.

The asset jumped from below $1 to $3.4 this year after optimism of better industry rules in the United States. A Securities and Exchange Commission (SEC) lawsuit impacted its growth for years, stalling its price under $1. Following Donald Trump’s election win and speculations of a positive environment, institutional investors flocked to the asset, pushing its price above multiple resistance levels.

As a result, XRP temporarily flipped USDT to become the third-largest crypto by market cap. This led to wider optimism, with bulls stressing a $6 price during the bull peak. Digital asset enthusiast Dark Defender explained that the third wave of growth could see the price soar between $5 and $8. 

“When you zoom out, you can see a clear Bullish momentum for #XRP. There are ups & downs in smaller time frames, but the higher frames superseded smaller ones. 3rd Wave is targeting $5.85 towards $8.076. 5th Wave is expected to finish the move between $18.22 and $23.20. (Not Financial Advice),” he wrote on X. 

Institutional Investors At The Center

A possible rise in XRP price above the $6 mark will see a spike in institutional demand. These investors are strategic to fuel the asset to a new all-time high. At press time, XRP stands at $1.98, falling below the $2 mark. A jump above 300% this year would need heightened institutional investment.

For most bulls, this scenario can be achieved through a spot XRP ETF approval relying on the jump in Bitcoin price last year. Policy watchers are increasing their odds for approval this year alongside Solana and other products. Another factor behind institutional interest in XRP is soaring global interest in cross-border payments.