Ripple’s native token XRP is on the verge of turning its fortune owing to its developments in the case against SEC. Some analysts predict that XRP price’s subtle but subsequent surge is very close. As speculation has it, the recovery would be close to 50%, making the coin the largest gainer of the first quarter. However, the market capitalization of the cryptocurrency market would suffer a minor loss during the same period.
Ripple vs. SEC has entered its third year. It all started with the SEC filing an opposition in court against Ripple. Later, Ripple filed the redacted reply. The case is now on the verge of finalization, which has led to multiple rumors about XRP’s price spike. Let’s understand more about XRP and what’s hidden in the future for traders.
What is XRP?
The cryptocurrencies are of many types, algorithms, and various consensus mechanisms. Ripple is also decentralized, but less than what Bitcoin and Ethereum claim.
In contrast to them, it works in tandem with the current banking system to make improvements rather than attempting to replace it. Nevertheless, because of its numerous unique characteristics and significant advancements, it is a cryptocurrency that might outlive others.
The XRP price is trying to consolidate since the heavy crash in 2021. The price dropped to $0.56 and then recovered by pulling the price up to $1.5. The coin is back at $0.5 again.
XRP Price Analysis
The last week was quite dramatic for Ripple. The price touched a weekly high of $0.58 before slipping to the low of $0.47. The support formed at $0.46. The price remained sluggish around $0.53, then made a smaller correction and dropped to $0.50. The coin recovered slightly and began another sluggish term at $0.52.
However, the resistance level at $0.57 may cause the price to return to the previous support level. Furthermore, the XRP price has not shown any pattern to point out, therefore, the next week is likely to showcase no such highs and lows.
Here’s what one of the top promoters of XRP, bitboy is predicting for XRP price moving ahead. He is predicting XRP price can rise as high as $12.
XRP Price Prediction for 2023
The current price of XRP is $0.515707 USD, and its 24-hour trading volume is $1,555,586,379. XRP is up 0.25% in the last 24 hours. The market capitalization at this time is USD $26,635,949,369. There are 51,649,390,115 XRP coins in circulation, with a maximum supply of 100,000,000,000 coins.
According to the chart, after an unsatisfactory year in 2021, the coin showed improvement in 2022. Despite tremendous plunges and rallies, the coin kept recovering. It seems the traders still have faith in the coin and are optimistic about the recovery. Before closing in 2022, XRP price plummeted to $0.309. The price recovered in 2023 but fell again later. The price movement formed a double bottom on the chart. Two bottoms, two lows, that resemble the letter “W,” are present. Here, the W forms around $0.30. It is regarded as sufficient for the pattern’s validation. The “neckline,” or highest point of a rebound, is marked by a horizontal line and is currently located at or near $0.56.
When there is a double bottom, which typically indicates a bullish reversal, investors have the opportunity to profit from a bullish rally. Following a double bottom, it is common to take long positions that will profit from rising security prices.
Moreover, RSI is supporting the double bottom pattern. All the indicators are pointing towards a bullish indication for the coin. Price ranges of $0.49 and $0.60 are anticipated for 2023, respectively.
XRP Price Prediction for 2024-2025
The minimum XRP price in 2024 is anticipated to be around $0.719928. The highest XRP price anticipated might be close to $0.889911. In general, the price of trading in 2024 may be $0.749925. The minimum and maximum prices of XRP are predicted to be around $1.04 and $1.25, respectively, in 2025. The typical anticipated trading expense is $1.07.
XRP Price Prediction for 2026-2027
It is predicted that the minimum XRP price in 2026 will be $1.49 and the maximum will be $1.79. The trading fee will be approximately $1.53 per transaction. Prices for XRP are projected to be $2.56 and $2.25 in 2027. It will typically trade for $2.33.
XRP Price Prediction for 2028-2030
The average XRP price is anticipated to be around $3.49. It might fall to $3.37 at the very least, but it might still rise to $3.91 by the end of 2028. XRP will be traded between $4.73 and $5.86 in 2029. Throughout the year, its average cost is anticipated to be around $4.87. The highest XRP price of $8.20 will determine the year 2030. However, it may decrease to about $7.24. Therefore, $7.43 is the anticipated average trading price.
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