XRP Price Prediction As The SEC VS. XRP Outcome Near

XRP is the primary token of the Ripple blockchain, designed for settling transactions between different real-world currencies. 

Unlike Bitcoin and Ethereum, Ripple’s Unique Node List selects validators without financial incentives, potentially leading to centralization and collision risks. 

The network currently handles 1,500 transactions per second (TPS), aiming to match Visa’s scalability of 65,000 TPS. This speed aligns with the network’s primary goal: to handle money transfers at very high speeds. 

The currency, XRP, was launched in 2012, and since then, it has constantly shown signs of a promising venture for the active crypto community. 

For example, during 2017 and 2018, XRP experienced a remarkable surge, briefly becoming the second largest cryptocurrency by market capitalization, following Bitcoin. 

Following the US SEC lawsuit in 2020, XRP went through a significant decline in its swap rate and market cap, which was even more severe than the overall downturn in the cryptocurrency market. However, the crypto market boom in early 2021 allowed XRP to recover slightly and regain stability. 

Although it has reached its previous highs yet, the future remains uncertain, and there is a possibility that XRP could experience another significant surge if it wins the lawsuit. 

Let’s examine its potential further in our XRP price prediction. 

Recent Price Action Of XRP

As of the latest data, XRP is currently priced at $0.4847, ranking 6th in the cryptocurrency market. The market cap of XRP is $25,228,122,264.27, with a circulating supply of 52,254,289,650 XRP. 

Over the past 24 hours, XRP has increased by $0.01 in its price value, indicating a 1.03% increase. XRP has shown a positive upward trend in the last seven days, with a 1.75% increase. 

This recent performance indicates strong potential and may present a favorable investment opportunity. Although the coin is still over 80% short of its all-time high of $3.84 in 2018, it has significantly risen from its all-time low by 16208.68%. 

Furthermore, XRP has experienced significant growth over the past month, with a 6.27% increase, adding an average of $0.03 to its current value. We see that in the last 30 days, the coin has registered 17/30, 57% green days, and a 3.89% volatility in price. 

The coin’s price started its progressive glide toward the end of May 2023. On June 1, it opened at $0.5174, declined a few pips, and closed at $0.5073. The currency’s value rose the next day and settled at $0.5254 during closing hours of June 2. 

XRP market price continued to fluctuate, only registering a significant value of $0.5447 at noon time on June 4. Then, it declined at the close of June 14, falling to $0.4802. The currency value dwindled within the $0.4 range for days, unable to break past the resistance level 

Although it touched the $0.5 mark twice on June 21, it soon returned below the mark at the end of June 22. However, slowly and steadily, the price values of XRP are adding by a few pips with signs of hitting $0.50 soon. 

Technical indicators favor a bullish market of about 55 to 62%, with the Fear & Greed Index scoring 63 as the coin tries to overcome its $0.55 resistance level.

With this information, it is clear that the sudden surge could be suggesting XRP’s potential to become a promising asset if its growth trajectory continues.

Technical Analysis Of The XRP Price Movements

Based on the daily chart from a trading view, Ripple Coin ($XRP) has formed Pennant Trading Chart Pattern. This indicates a temporary consolidation or pause in price movements before a potential continuation of the previous trend. 

Traders often view these traits as a sign of impending volatility, and they anticipate a breakout in the direction of the initial trend, presenting potential trading opportunities.

As shown on the chart above, the previous pennant formed took the XRP price from $0.4710 to a notable price mark of $0.4960 on June 2. This surge represents an increase of 5.30%.

Note that the crypto space is on high volatility, and various factors, such as market news and investor sentiment, can influence the movement of the coin even when it has formed a Pennant pattern.

Currently, the asset is trading above the middle band of the Bollinger Bands indicator, suggesting that the price is in an uptrend. This situation indicates that the asset’s price is relatively high compared to its recent historical performance. 

This setup may be interpreted as a bullish signal, indicating further upward movement or a continuation of the current trend. The Relative Strength Index (RSI) of Ripple Coin ($XRP) is currently at 51.29, suggesting a neutral market.

This indicates that the Ripple Market is currently stable, with no pressure from the sellers or the buyers. Traders and investors should exercise caution and consider multiple indicators and fundamental factors before trading.

Experts’ Insight On The Short-term and Long-term Prediction

For the sake of how volatile the cryptocurrency market is, providing accurate long- or short-term predictions for a specific asset, including XRP, has always been challenging, even for experts and traders.

In 2022 and the early part of 2023, XRP’s price history was largely unremarkable. Similar to Ethereum and Bitcoin, it experienced relative stability during what was commonly referred to as the “crypto winter” phase in the overall market.

XRP remains popular among retail and institutional investors despite a few significant obstacles. According to a technical analysis conducted by the Changelly blog, the maximum price of XRP in 2023 is $0.502, and the average trading price will be at $0.458, with its minimum level around $0.414.

In the long term, by 2026, the maximum XRP price would climb to $2.17, and the average value is estimated at $1.87, with the minimum price not less than $1.81. 

A significant boost is expected by 2030 in the XRP market. The maximum price is estimated at $10.11 per token. Its minimum rate might drop around $8.81, and an average trading price of $9.10. 

According to Techopedia, the current price chart of XRP serves as the primary indicator to assess whether the coin has the potential for a significant surge in the short term. 

Various factors, both positive and negative, impact XRP’s performance. However, closely analyzing its price chart provides valuable insights into its potential for explosive growth soon.

In the short term, XRP is estimated to average a price of $0.38 per token in 2023. A possible $0.56 is expected on a high, with a minimum fall of $0.20. 

The prediction is based on the outcome of the SEC lawsuit. XRP’s average price by 2030 is $6. The maximum may climb to $9, with the lowest selling price at $3. 

In the short term, according to CryptoNewsZ, the coin is expected to continue increasing until it reaches a maximum of $0.98 by the end of 2023. The average price will shuttle around $0.69, and a minimum fall to $0.40 sums up the prediction. 

As the years proceed, the maximum XRP price may climb to $1.95 in 2026. Its average value could surface at $1.65; the minimum fall would be $1.36. 

Finally, for its long-term prediction, XRP could go as high as $5.49 by the end of 2030. The average price would fall around $4.65, with the minimum price per token estimated at $3.81.

Factors Influencing the Price Changes of the Currency

With an all-time high of $3.84 and an all-time low of $0.002802, certain factors have affected the price of XRP since its inception. 

Some of these factors are recent events and are still attributed to the bullish movement currently. However, others are past occurrences that may still affect how the coin’s market plays out. 

Here are the most common factors responsible for XRP price actions:

1. SEC Vs. Ripple Lawsuit

The SEC vs. Ripple has been one of the significant factors that have recently affected XRP’s price. Seeing that XRP is the Ripple Transfer Protocol of Ripple Labs, the coin price experienced a considerable decline when Ripple was sued by the SEC. 

The suit was on account of marketing unregistered securities. Hence, it put XRP at risk, spread fear, uncertainty, and doubt (FUD) within the community, and led to massive declines in the coin’s market price.  

Although there is still uncertainty regarding the coin, if the case against SEC goes well in Ripple’s favor, the likelihood of XRP skyrocketing is high. Meanwhile, Ripple is in a strong defense, standing by SEC’s under-sight in providing prior regulations. 

2. Centralization Issues on XRP Token Distribution System

The XRP token distribution system is another factor responsible for its price changes. 

XRP’s circulating supply is 51.99% of its 100 billion maximum supply, with the rest locked in smart contracts. One billion tokens are released monthly, potentially flooding the market in 48 months. 

Ripple sells these tokens through OTC trading to avoid affecting XRP’s price, but concerns remain about future selling pressure on the part of investors. Meanwhile, 20% of tokens are registered to Ripple founders, and the top 100 holders control 32% of the circulating supply, indicating ownership shares and their potential impact on the market. 

3. Ecosystem Updates

Ripple’s partnerships with Santander and over 200 other global financial institutions demonstrate XRP’s strong use case and promising long-term potential. 

Additionally, as central bank digital currencies (CBDCs) are being introduced, interest in XRP could surge due to its potential role as a global “bridge currency,” facilitating efficient and cost-effective swaps between various CBDCs.

4. Investor and Market Sentiments

Retail investor sentiment, particularly from the influential “XRP Army” online community, has historically significantly impacted XRP’s price. Their support played a significant role in XRP reaching its all-time high (ATH) in 2018. 

Soon, if the crypto community rallies behind XRP once more, it has the potential to boost its price exponentially.