XRP Price Prediction, will XRP’s price hit $1.42?
XRP’s price at the same time last week was $0.36. It has moved by 3.50% in the past week and is currently at $0.38. Infact, in the past 24 hours, XRP has dumped by -0.23%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and XRP could hit $0.6 in 2024.
The total circulating supply of XRP as of writing this article was $50,950,912,949 and the marketcap of XRP remains at $19,618,861,837.
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
XRP: An overview
The rationale for building XRP was to optimize the existing financial system while addressing its bottlenecks by harnessing blockchain technology.
Simply put, XRP is a cryptocurrency designed to act as a digital payment network for financial transactions. It is trustless, instant, and cost-effective. Thus, the token has unveiled itself to be superior for cross-border movements.
First released in 2012, the Chris Larsen and Jed McCaleb co-founded project replicates the traditional SWIFT payment system but leverages a blockchain-based digital payment network and protocol.
In essence, the mission of Ripple’s blockchain infrastructure - RippleNet - would provide banks with fast, low-cost, and simple cross-border transactions. As a result, it could be a practicable alternative to the SWIFT system.
XRP serves as a bridge to other currencies. It does not distinguish between fiat/cryptocurrency. This property makes it easy for any currency to be exchanged for another. Simply put, every currency has its own payment gateway. This property enables easy transfers across national boundaries with any currency pair on either side.
While aspiring to transform the global financial services space, XRP is open-source, permissionless, and carbon-neutral. The transactions on the XRP ledger [XRPL] typically take 3-5 seconds to settle. This makes it quite attractive for Financial institutions, users, and developers to get on board.
The back and forth with the SEC refrained the token from peaking with the broader market pump in November last year. With a bearish breakdown on its charts just after the inception of this year, XRP has fortunately found reliable rebounding grounds from the $0.3 baseline.
Given the market-wide meltdown, XRP's YTD downtrend shed half its value.
Also, recent developments in the case with SEC rekindled some hope for XRP. Progress on this front could aid the altcoin in sustaining its well-founded bull run.
With the lawsuit in progress, however, when can we expect XRP to breach its immediate ceiling on the charts? What other in-network developments could affect its value in the minds of potential buyers?
Let's dive deeper into some of these happenings to formulate a better insight into XRP's plausible movement on the chart in the coming weeks/months.
The SEC-Ripple saga
On 22 December 2020, the U.S Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs. The lawsuit stated that Ripple had raised $1.3 billion through the sale of XRPs being unregistered securities.
To sum it all up, the SEC argument implied that XRP should be considered security rather than a cryptocurrency and hence would come under their ambit to charge tax on the sale as a 'security'.
Earlier this year, Judge Analisa Torres allowed Ripple the argument for a fair notice defense. The effects of this were taken positively amongst the buyers as it noted double0digit gains immediately after that.
In its recent motion, the SEC essentially took everything Ripple said about XRP to use it against them. On the other end, Ripple's argument rested on what constitutes an 'investment contract.'
What's definitely noteworthy in this summary judgment is the argument for XRP in itself being security is nowhere mentioned. On the contrary, the brief is focused on Ripple's marketing of XRP as an investment to potential buyers.
While responding to this, Ripple has given references to the 'Blue Sky' cases to prove that an investment contract does not exist between XRP buyers and Ripple as the latter does not have any legal obligation toward the former.
These developments were again taken positively by the buyers as XRP registered an over 71% hike from 16-23 September.
Given the substantially high correlation between the lawsuit and XRP's price, it becomes vital to factor in these updates and to keep a track of the upcoming dates.
As per Ripple's quarterly market analysis report (Q2), the French luxury fashion house 'Balmain' announced a global partnership with mintNFT to introduce its brand in the metaverse. This alliance would bring the first fashion NFTs to the carbon-neutral XRPL. To top it up, iconic British performance car brand Lotus partnered with NFT PRO to bring automotive NFTs to XRPL.
The partnerships could make it lucrative for newer customers, automotive enthusiasts, NFT collectors, etc to create a community-driven marketplace and ultimately cause an uptick in its daily active users.
Additionally, Q2 also saw the launch of onAVAX.com, the first cross-chain DeFi platform for XRPL and Avalanche native assets.
Given these developments alongside its improving sentiment, XRP noted an uptick in the number of new addresses that transferred for the first time, i.e., the Network growth. Also, the Social traction and development activities saw an uptrend.
XRP Price Analysis
XRP witnessed relatively weak price movements during 2021. The bears induced a rally below the 20 EMA (red) and the 50 EMA (cyan) to reveal a strong selling edge.
XRP Weekly Chart
The descending triangle setup this year further fueled bearish tendencies as the coin lost the crucial $0.6-support and flipped it to immediate resistance. Consequently, XRP retested its long-term support in the $0.31-zone.
However, the recent rebound from this baseline aided the bulls in claiming a spot above the 20 EMA and reflect an increased buying advantage. The toke now needs to challenge the 50 EMA resistance to establish a robust buying edge.
An eventual break above the $0.55-$0.6 range could propel a breakout rally. In this case, potential targets would lie in the $$0.71-$0.8 range before a plausible reversal.
On the flip side, a break below the 20 EMA would re-establish a bearish foothold while positioning the token to test its long-term support before a bullish push.
The Relative Strength Index (RSI) revealed a bullish edge after it closed above the 50-mark during the most recent rally. A sustained spot above this level would position the coin to keep accommodating further gains.
Moreover, the volume Oscillator also marked an uptick during recent gains. This reading entailed high buying volumes and reaffirmed the strength of the bullish move.
Should you consider buying XRP?
XRP's correlation to the lawsuit seems to affect the price the most. Thus, keeping a close watch on the developments of this case alongside other developments would be vital for XRP to pump its price.
The press time bullish bias would be further reaffirmed if the buyers can cross its weekly 50 EMA. In either case, the entry triggers and targets would remain the same as discussed.
XRP Price Prediction
XRP has had an eventful 2021. To simplify the latest XRP price prediction, we have divided up the prediction by short term XRP price prediction and long term XRP price prediction. As of writing this article, XRP had a trading volume of $1,613,384,916. XRP has gone down by -2.48% in the past 30 days.
XRP's Long Term Price Prediction
XRP’s long term Price Prediction below is a look at XRP’s future prospect with regards to price. XRP was last seen at $0.38, with a market cap of $19,618,861,837 and trading volumes of $1,613,384,916. XRP’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
|Years||Avg Price||Lowest Price||Highest Price|
XRP price prediction 2023: XRP’s price for 2023 according to our analysis should range between $0.94 to $1.42 and the average price of XRP should be around $1.18.
XRP price prediction 2024: XRP’s price for 2024 according to our analysis should range between $0.4 to $0.6 and the average price of XRP should be around $0.5.
XRP price prediction 2025: XRP’s price for 2025 according to our analysis should range between $0.49 to $0.73 and the average price of XRP should be around $0.61.
XRP price prediction 2026: XRP’s price for 2026 according to our analysis should range between $0.59 to $0.89 and the average price of XRP should be around $0.74.
XRP price prediction 2027: XRP’s price for 2027 according to our analysis should range between $0.72 to $1.08 and the average price of XRP should be around $0.9.
XRP price prediction 2028: XRP’s price for 2028 according to our analysis should range between $0.87 to $1.31 and the average price of XRP should be around $1.10.
XRP price prediction 2029: XRP’s price for 2029 according to our analysis should range between $1.06 to $1.59 and the average price of XRP should be around $1.33.
XRP price prediction 2030: XRP’s price for 2030 according to our analysis should range between $1.29 to $1.93 and the average price of XRP should be around $1.61.
XRP price prediction 2031: XRP’s price for 2031 according to our analysis should range between $1.56 to $2.34 and the average price of XRP should be around $1.95.
XRP price prediction 2032: XRP’s price for 2032 according to our analysis should range between $1.89 to $2.84 and the average price of XRP should be around $2.36.
XRP price prediction 2033: XRP’s price for 2033 according to our analysis should range between $2.29 to $3.44 and the average price of XRP should be around $2.86.
XRP price prediction 2034: XRP’s price for 2034 according to our analysis should range between $2.78 to $4.17 and the average price of XRP should be around $3.47.
A Historical look at XRP, XRP’s price:
FAQs about XRP
XRP’s current price is $0.38 and witnessed a -0.23% decrease in the past 24 hours. XRP/BTC pair saw a -4.42% decrease in the past 24 hours.
Investing in XRP, XRP will purely depend on your personal risk appetite. As you can see over the past 24 hours XRP’s price has witnessed a -0.23% decrease and over the past 30 days XRP has decreased by -2.48%. So it all depends on if this investment will hit your trading goals.
According to our latest XRP Price prediction for 2023, XRP should vary between $1.42 and $0.94 Please keep in mind that the crypto market is very volatile and this XRP price prediction does not account for extreme wild swings in price.
As per the XRP price prediction undefined model above, XRP’s price for undefined should range between $undefined to $undefined with the average price for undefined being $undefined.
According to the XRP Price Prediction model above, XRP’s price in 2024 would be $0.5. This price would however would range from $0.6 and $0.4.
According to the XRP Price Prediction model above, XRP’s price in 2025 would be $0.61. This price would however would range from $0.73 and $0.49.
According to the XRP Price Prediction model above, XRP’s price in 2026 would be $0.74. This price would however would range from $0.89 and $0.59.
According to the XRP Price Prediction model above, XRP’s price in 2027 would be $0.9. This price would however would range from $1.08 and $0.72.
According to the XRP Price Prediction model above, XRP’s price in 2028 would be $1.10. This price would however would range from $1.31 and $0.87.
According to the XRP Price Prediction model above, XRP’s price in 2029 would be $1.33. This price would however would range from $1.59 and $1.06.
According to the XRP Price Prediction model above, XRP’s price in 2030 would be $1.61. This price would however would range from $1.93 and $1.29.
According to the XRP Price Prediction model above, XRP’s price in 2031 would be $1.95. This price would however would range from $2.34 and $1.56.
According to the XRP Price Prediction model above, XRP’s price in 2032 would be $2.36. This price would however would range from $2.84 and $1.89.
According to the XRP Price Prediction model above, XRP’s price in 2033 would be $2.86. This price would however would range from $3.44 and $2.29.
According to the XRP Price Prediction model above, XRP’s price in 2034 would be $3.47. This price would however would range from $4.17 and $2.78.
The highest price for XRP was recorded in 7th January 2018 during which XRP hit an All Time High of $3.40
The price of 1 XRP according to current market rate is $0.38