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Date: 2022-12-31 13:20:06
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Over the last year, cryptocurrency prices have plummeted. This included the XRP token, which is also dealing with legal issues. Because Ripple Labs is still involved in a legal dispute with the SEC. Even so, a court ruling in 2023 could either explode or crash the price. Since then, how has the Ripple (XRP) forecast for 2023 shifted? This article is all about the Ripple price prediction.
Ripple Price Prediction: XRP/USD Weekly chart showing the price – GoCharting
The XRP coin, like other coins on the crypto market, suffered losses in 2022. Because the price of XRP has fallen from $ 0.84 to $ 0.34 in the last year. The losses were substantial, but in comparison to many other coins, they were relatively minor. However, this was also since the XRP coin’s all-time high was in 2018, and the price came from a lower level.
The first half of 2022 saw particularly severe losses. By mid-June, the XRP price had fallen to $0.30. However, the price began to level off in the second half of the year. We then saw another significant price increase to 0.53 dollars at the end of September. The FTX crisis triggered a decline to $0.33, worsening the Ripple (XRP) prediction for the end of 2022. In recent days, the price has reinforced at $0.34.
The XRP price increased by more than 60% in September 2022. This surge occurred at a time when few other cryptocurrencies were experiencing price increases. This was primarily due to good news about the legal dispute with the Securities and Exchange Commission in the United States. For more than two years, the XRP price has been influenced by the dispute between Ripple and the SEC. More information about the lawsuit can be found in this article.
When there are allegedly exculpatory facts for Ripple or when the SEC is forced to release exculpatory documents in court, we see relatively strong price increases. This could happen again in the coming year 2023. However, a guilty verdict against Ripple could destabilize the XRP price. With the Ripple (XRP) forecast for 2023, we should keep that in mind.
I said it on day 1, we will aggressively fight to get clear rules for the entire industry in the U.S.
Congrats to all of Team Ripple for getting us to this point. Ripple stood strong and withstood the SEC’s onslaught. I look forward to being on the right side of justice. https://t.co/oKhKjIdTSW
The crypto market may see rising prices again in 2023. However, predicting Ripple (XRP) is more challenging. Because the legal fight with the SEC is crucial. After several delays, a decision is anticipated in 2023. We want to predicate our Ripple (XRP) prediction on the eventual result of the court case. To do so, we’d like to look at two types of situations: positive and negative.
If the legal battle is won, the XRP price could skyrocket in 2023. We must keep in mind that the market as a whole may rise in the medium term, as it did four years ago. At the time, the value of Bitcoin had tripled. If this happens again, altcoins could increase by a factor of 3 to 5. If Ripple is found not guilty, the XRP price could rise even further. However, after such an increase, a year-end consolidation becomes more likely. We are assuming a Ripple (XRP) forecast of $1.20 to $1.60 by the end of 2023.
If Ripple loses its lawsuit against the SEC, the future of XRP looks very bad. As a result, XRP would be categorized as a security. The firm would almost definitely face severe consequences, and faith in the XRP coin would be severely rattled. In this case, we anticipate the price to drop. Ripple (XRP) is predicted to be worth $0.05 to $0.10 by the end of 2023.
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You must determine whether an investment in the XRP coin is worthwhile for yourself. Because the risk of an implosion of the XRP price after a guilty verdict remains. You could gain a lot if you are willing to take that risk. Just keep in mind that you could also lose a lot of money.
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