With Bitcoin and Ethereum surging, what does the Ripple price prediction indicate about XRP’s ability to keep up with these market leaders?
Ripple (XRP) has been in the spotlight for quite some time, but not necessarily for the reasons fans would like. Since the beginning of the year, XRP has been flat and showing disappointing performance.
While Bitcoin (BTC) and Ethereum (ETH) have surged 69% year to date (YTD) and other altcoins are up over 100%, Ripple’s value has fallen nearly 15% and is currently sitting at $0.53.
Despite this lackluster performance, Ripple has made notable progress in its business operations.
Recently, Ripple announced a new partnership with Clear Junction to facilitate instant and secure GBP and EUR denominated payments for Ripple’s payments customers.
This partnership expands Ripple’s influence and capabilities in the financial world. Ripple’s official website also hinted at adding more customers by the end of the year through this partnership, which could potentially improve its market position.
Building on this momentum, Ripple CEO Brad Garlinghouse recently appeared on Fox Business and advocated for the approval of several altcoin exchange-traded funds (ETFs).
He argued that just as investors diversify their portfolios with commodities such as gold and silver, they should also have the option to diversify their portfolios with various cryptocurrency assets.
Garlinghouse confidently stated that the approval of an XRP ETF was “inevitable,” recalling a time when XRP was the second-largest digital asset by market capitalization.
Despite these promising developments, the legal dispute with the U.S. Securities and Exchange Commission (SEC) continues to cast a shadow over XRP.
While all attention is focused on the upcoming court decision, big questions remain. Where is XRP headed next? Will legal clarity drive prices significantly higher, or will uncertainty continue to weigh on them?
In light of these developments, let’s delve deeper and understand Ripple’s price prediction.
The ongoing story of Ripple and the SEC
The legal story between Ripple and the SEC has been a roller coaster of twists and turns, with each development sparking waves of speculation in the cryptocurrency world.
This high-stakes battle began in December 2020 when the SEC accused Ripple of raising more than $1.3 billion through unregistered securities offerings by selling XRP.
The Ripple v. SEC case took a dramatic turn in July 2023 when U.S. District Judge Analisa Torres issued a landmark ruling. She determined that Ripple’s sales of XRP to institutional investors qualify as securities under federal law, but its sales to the general public do not.
Judge Torres reached his decision by applying the Howey Test, a legal standard from a 1946 Supreme Court case. She found that institutional investors understood Ripple’s claims as a speculative investment that fit the criteria of an investment contract.
However, she ruled that the exchange’s programmatic sales to retail investors did not meet this standard because the buyers were unaware of Ripple’s statements about XRP’s potential profits.
Judge Torres’ decision was hailed as a major victory for the cryptocurrency industry as it potentially limits the SEC’s jurisdiction over cryptocurrencies traded on public exchanges.
Recently, the incident resurfaced. Ripple filed a reply letter supporting its motion to seal data related to the SEC’s ruling and request for relief.
Initially, Ripple wanted to seal and redact certain evidence and financial documents, but the SEC opposed this move.
The SEC argued that such financial and securities sales information is critical because it constitutes a “judicial document” that is central to claims for relief and can influence court decisions.
However, Ripple claims that these historical contracts are not relevant because it has modified its XRP selling process. The company emphasized that it no longer sells XRP through over-the-counter transactions, which the court classified as “institutional sales.”
Instead, Ripple now sells XRP to customers for use with its on-demand liquidity (ODL) product. The product lacks the uncontroversial terms of previous OTC contracts, such as discounts to sophisticated counterparties.
In the final stage of the case, both parties submitted the necessary documents and briefs to the magistrate. The court’s decision could come at any time, adding another layer of tension to an already dramatic legal battle.
Judge Netburn, who has been appointed a federal judge for the Southern District of New York, will handle the latest developments. Her decision to make this move could shape the future of XRP and set an important precedent for the cryptocurrency industry.
What’s next for Ripple?
As its legal battle with the SEC continues, Ripple is stepping up its game not only in court, but also in the markets and politics.
One of the most exciting developments is Ripple’s plan to launch a USD-backed stablecoin fully backed by US dollar deposits, short-term US government treasury bonds, and other cash equivalents.
According to Ripple, the stablecoin market is expected to exceed $2.8 trillion by 2028, up from approximately $162 billion today. Ripple aims to capitalize on this growing demand. The stablecoin will initially be available on the XRP Ledger (XRPL) and Ethereum blockchains.
Over time, Ripple plans to expand into other blockchains and decentralized finance (DeFi) protocols to provide more use cases, liquidity, and opportunities for developers and users inside and outside the XRPL community.
In addition to product innovation, Ripple is also actively participating in shaping the American political scene.
The company recently announced that it had donated $25 million to Fairshake, a federal super PAC dedicated to supporting pro-cryptocurrency, pro-innovation political candidates in the 2024 elections.
Ripple’s donation adds to the $25 million it has donated in 2023 and represents an industry-wide effort to promote policies that support financial innovation in the United States, with the goal of challenging the SEC’s regulatory challenges and advocating for a more favorable environment for cryptocurrency businesses. It is part of . .
As Brad Garlinghouse noted, Ripple and the cryptocurrency industry cannot remain silent while regulators stifle innovation. The upcoming election is considered critical to the future of cryptocurrency in the United States, and Ripple aims to ensure that the right candidates who support cryptocurrency are elected.
Ripple Price Prediction: Will Ripple Price Rise?
According to a recent analysis, XRP may be on the verge of a massive price surge due to technical patterns and legal clarity.
Prominent cryptocurrency analyst DustyBC shared a chart predicting a potential “God candle” that could push the price of XRP above $28. This Ripple Coin price prediction indicates a whopping 4,000% price increase.
DustyBC’s analysis is rooted in symmetrical triangle patterns. This is a technical formation that indicates that XRP has been consolidating since 2017 and that a breakout is likely to occur soon.
Another cryptocurrency enthusiast, Javon Marks, shared an even more optimistic outlook. Marks speculates that XRP could exceed $200 if it follows a completely logarithmic growth path.
Marks’ Ripple cryptocurrency price prediction is based on Ripple’s historical performance, with XRP posting a gain of over 108,000% during the 2017-2018 bull market.
He believes a similar, if not more substantial, rally could be coming soon, noting a possible 33,030% increase from current levels.
Another cryptocurrency analyst claimed that Ripple’s three-year-old battle with the SEC is the reason for XRP’s underperformance in the last bull market.
However, this prolonged period of consolidation, combined with its historical ability to soar (10,000% in 60 days and 61,000% in 280 days in 2017), suggests the potential for further upside.
Prolonged consolidation phases often lead to significant expansions, making XRP a noteworthy asset, he added, according to technical analysts.
However, not all Ripple cryptocurrency price predictions are this optimistic. Wallet Investor’s 2024 Ripple price prediction predicts XRP will hit $0.579 and $0.478 by 2025.
DigitalCoinPrice, on the other hand, provides a more optimistic Ripple price prediction for 2025, placing XRP at $1.29. They also predict that XRP will reach $3.88 by 2030, reflecting their long-term bullish outlook for the Ripple price prediction for 2030.
Always keep in mind that these XRP predictions and Ripple predictions are based on current market trends, technical analysis, and analyst opinions. They can go wrong, and they often do.
Therefore, do not take these XRP price predictions as the basis for any investment and always do your own research. Keep in mind the golden rule of investing: Don’t invest more than you can afford to lose.
Frequently Asked Questions
Is Ripple a good investment?
Ripple can be considered a good investment due to its innovative technology. Many analysts believe that Ripple is the future of digital payments and cross-border transactions. However, it is important to do your own research and consider the risks before investing.
Will Ripple price rise or fall?
Predicting whether Ripple’s expected price will rise or fall will depend on a variety of factors, including market trends, legal developments, and overall adoption of the technology. Although many experts have positive predictions for Ripple, it is important to stay updated with the latest news and market analysis.
How high can ripple go?
The potential for how high Ripple can go varies from analyst to analyst. Some believe there are significant benefits to be had, especially if regulatory clarity is achieved and adoption increases. However, exact future prices are uncertain and depend on a variety of market factors.
Can Ripple reach $100?
Reaching $100 is an ambitious goal for Ripple, but not impossible if strong market adoption and favorable regulatory outcomes occur. Therefore, it is important to manage your expectations and invest wisely.
How to buy Ripple (XRP)?
To buy Ripple (XRP), you can use popular cryptocurrency exchanges like Binance, Coinbase, or Kraken. Simply create an account, complete the verification process, and deposit funds to buy XRP. Use a secure platform and follow best practices for safety.
Should you invest in Ripple?
Whether to invest in Ripple depends on your financial goals and risk tolerance. If you believe in its technology and future prospects, it might be worth considering. However, always diversify your investments and never invest more than you can afford to lose. Do thorough research before making a decision.