The Most Outrageous Ripple (XRP) Price Predictions This Year

TL;DR

XRP is trading around $0.52, with some analysts predicting a potential rise to $5.85, $18.22 and even as high as $100, though extreme targets are unlikely. The ongoing lawsuit between Ripple and the SEC is significantly affecting the asset price, with the company’s partial court gains increasing optimism for a potential bull run. The odds of a ridiculous XRP rally

Despite a brief price surge above $0.70 in mid-March, Ripple’s XRP has not ranked among the best performing cryptocurrencies this year. It is currently trading around $0.52 (according to CoinGecko data), which is a minor increase compared to the figure seen a month ago.

Numerous analysts believe that the asset may break out of its current price position and head towards somewhat outrageous targets. An example is user X Dark Defender, who believes that XRP can rise to $5.85 and later to $18.22:

“As long as they hold, our Elliott Wave 5 structure targeting $5.85 and $18.22 remains the same. And any other moves between $0.3917 and $0.6649 are sideways and normal” .

Earlier this year, the analyst set an increasingly ambitious target of $20, while EGRAG CRYPTO warned the XRP army to “stay steady” as an “ignition ” of the price.

One of the most bullish price predictions this year was described by JackTheRippler, who predicted a rise to a whopping $100.

Still, none of the above can be compared to CryptoBull’s analysis of the year 2023. User X then suggested that XRP could shoot up to a staggering $470 in the future.

It’s worth mentioning that this level would likely remain a mirage, as the asset’s market cap would need to explode above $200 trillion for that to happen. The total market capitalization of the crypto industry currently stands at “only” $2.5 trillion.

The impact of Ripple’s lawsuit against SEC

Demand between the two entities is considered by many to be a major contributing factor to XRP’s price movements. The case, which began in December 2020, recently entered its trial phase, and some see the US SEC as the underdog due to Ripple’s three partial court victories secured throughout 2023 .

The legal battle has seen numerous developments recently, and according to US Attorney Jeremy Hogan, both sides are now awaiting the judge’s ruling.

A decisive victory for Ripple may reverberate in a bull run for XRP, while the opposite scenario could halt the asset’s upward moves as it did in December 2020 when the agency initially pursued company Those who are curious to learn more about the lawsuit and its details, please watch our dedicated video below:

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