XRP Price Prediction: Will XRP Consolidate On Its Gains?

XRP has maintained positive price action today, with a trading volume of $963,550,758 billion within 24 hours. The number six ranked token is enjoying massive interest from investors as the general crypto market recovers from the price drop earlier in the year. 

However, its price moves largely depend on the outcome of its court case moving forward.

Ripple (XRP) Past And Present Trend

XRP started the year trading at $0.3388 on January 1, 2023, and moved to $0.35 on January 10. By January 11, the token traded at $0.37 and spiked to $0.41 by January 20. 

The asset fluctuated between $0.37 and $0.4 in February 2023. It traded at $0.3829 on March 1 and moved to $0.4697 on March 21.

XRP moved into an uptrend to trade at $0.5151 on March 28, and the asset remained at the $0.51 price level until April 13. A close look at its performance with technical indicators could help investors understand its next price moves.

XRP Price Prediction Based On Technical Indicators

XRP is trading in a sideways trend today despite forming a red candle on the daily chart yesterday. It is trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal for the asset. It has formed a green candle on today’s price chart, indicating a further price increase. 

Also, XRP has found support at the 38.2% Fib level ($0.49571), which could be a pivot point for an uptrend if the bulls prevail. The Relative Strength Index is 59.43, expressing price neutrality. 

However, this indicator is moving upwards, reflecting an increased buying volume for the asset. Its 24-hour trading volume is close to $1 billion, indicating a keen interest among investors. 

XRP has remained at the $0.51 price level for the last two days. It may increase in the coming days to trade at the $0.52 range.

Expert Long And Short Term XRP Price Prediction

Experts have compiled an XRP price prediction for the short and long term based on technical indicators and network trends.

XRP Price Prediction By Changelly

Changelly, tip XRP to trade at a minimum of $0.6499, an average price of $0.6699, and a maximum of $0.7599 in 2023. Also, in 2025, they predict a minimum of $1.36, an average of $1.41, and a maximum of $1.69. In 2030, they expect a minimum price of $7.24, an average of $7.43, and a maximum of $8.20.

XRP Price Prediction By Bitnation

Bitnation predicts a minimum of $0.61191, an average of $0.7649, and a maximum of $0.9179 in 2023. In 2025, XRP may record a minimum of $1.63, an average of $1.78, and a maximum of $1.94. 

In 2030, the expected minimum is $4.18, an average price of $4.33, and a maximum of $4.49.

XRP Price Prediction By CryptonewZ

CryptonewZ predicts XRP to trade a minimum of $0.21 and a maximum of $0.70 in 2023. By 2025, they predict a minimum of $0.75 and a maximum of $1.24. Also, by 2030, they believe that XRP will trade at a minimum of $2.15 and a maximum of $2.64.

Factors That May Influence XRP’s Price

Several factors could influence XRP’s price. These factors range from global factors to events in the Ripple Labs ecosystem.

SEC vs XRP Legal Battle

XRP is a token with enormous potential but suffers from the prolonged legal drama with the U.S.  Security and Exchange Commission (SEC). The SEC argues that XRP tokens are securities the developers sold illegally to investors. However, Ripple Labs has denied any wrongdoing in a counter-argument.

This case has persisted since 2020, casting a shadow over XRP’s performance. However, a summary judgment will occur at some point in 2023. If Ripple Labs wins the case, the token’s price will likely increase.

Supply and Demand

The laws of supply and demand are valid for all trades. If there are more buyers than sellers, tokens become scarce, increasing the price. However, if the sellers dominate the market, there will be excess tokens in circulation, thus leading to a price decrease.

Macroeconomic Factors

Unemployment, inflation, and interest rates could affect the price of a cryptocurrency. The Consumer Price Index (CPI) is a popular metric for measuring economic stability based on the price of regular goods. If the CPI is low, then cryptocurrencies historically increase in value.

Crypto Adoption and Utility

Countries like El Salvador and Saudi Arabia are regarded as crypto hubs and welcome their adoption. However, other regions like China have restrictive crypto laws that could negatively affect a project. 

Although these laws claim to protect investors, they could be counter-productive and fuel distrust from investors. A crypto project that enjoys significant adoption and utility will be largely successful and increase in value.

Recent Trends On The Ripple Network

Ripple University Blockchain Research Institute Initiative

Ripple Labs’ University Blockchain Research Institute Initiative (UBRI) supports a vast range of blockchain research and development. It provides vital education to prepare the next generation for the global scale fin-tech workforce, such as entrepreneurs and engineers.

The project has partnered with over 45 universities across 20 countries and supported over 1000 blockchain research projects. Such innovations will attract more users to the network.