Connect with us
Active Currencies 14896
Market Cap $2,329,813,115,862.90
Bitcoin Share 51.00%
24h Market Cap Change $3.12

Why XRP’s $1 price prediction is no longer feasible in 2023

3min Read

Large transfers into exchanges indicate that XRP may end the year lower than $0.63.

XRP news

Share this article

  •  XRP is set to end the year much lower than earlier predictions.
  • A high level of liquidation may occur around $0.59 or $0.68.

“XRP to $1” – This is one phrase that appeared many times over the year.

However, with two days left till 2023 ends, this price prediction might not come to pass yet. But before AMBCrypto tells you why the rise to $1 is not possible this year, it is important to admit the reasons the forecast came to be.

According to our assessment of XRP and the market at large, the reason the prediction was rampant was because of the outcome of the case between Ripple and the U.S. SEC.

So, it was not surprising that the XRP Army called for the price when Judge Torres declared that the cryptocurrency was not a security.

Though Ripple’s partial win against the regulator set the tone for a rally above $0.90, XRP did not hit the $1 mark. Going into the last moments of the year, large transfers into exchanges indicate that XRP may end the year lower than $0.63.

On the 28th of December, Whale Alert posted that a whale had transferred 23.8 million XRP to the Bistamp exchange.

A move like this suggests an intention to sell. This transaction could also lead to a decline in the XRP price action.

Around the same period, the whale tracking platform disclosed that another 24.8 million was sent to Latin American leading exchange Bitso.

This second transaction also confirmed AMBCrypto’s theory that XRP might face selling pressure.

Furthermore, the Liquidation Heatmap analyzed via HyblockCapital showed that both longs and shorts may need to be careful. Areas colored yellow represent a predicted high level of liquidation.

At this point, whales can make quick trades. However, retail traders risk losing money because of the potential use of high leverage in search of gains.

Based on XRP’s Liquidation HeatMap, high liquidations might occur around $0.59 to the downside. On the upside, the risks appeared around $0.68.

XRP Liquidation HeatMap

Source: HyblockCapital

Therefore, the likely move for XRP is to keep consolidation over the next few days. On the technical side, XPR was showing signs of a mild increase. This was because of the Awesome Oscillator (AO) and Relative Strength Index (RSI).

At press time, the RSI reading was 52.45 suggesting a bullish attempt at dictating the cryptocurrency’s momentum. It was also a similar case with the AO. The AO at the time of writing had flipped positive.

XRP price analysis showing the movement on the daily chart

Source: TradingView

Read Ripple’s [XRP] Price Prediction 2024-2025

However, the indicators may need to trend higher for XRP to confirm a bullish bias for XRP. If not, the token might find it difficult to hit $0.65 or cross the level. Regardless of the recent price, there were still optimistic views about the token’s long-term potential.

For example, the JWK YouTube channel said in a session on the 27th of December that  XRP might hit $352.59. The channel also gave a timeline, noting that the prediction could happen within five years.


Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free. As a Nigerian, Victor understands the impact unfounded financial restrictions have on a population. He sees Bitcoin and cryptos as a way to circumvent these obstacles, as a tool for value creation despite all the setbacks. A graduate in Physics, Victor previously worked as a Senior Marketer at Melange Technologies. Before that, he dealt with crypto-marketers on a regular basis in his capacity as Copywriter at Ventrix Media. At AMBCrypto, Victor’s focus is on assessing the real effectiveness of both on-chain and off-chain developments on a project and its community sentiment.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.