XRP, the native token of the Ripple network, was launched in 2012, during a time when the cryptocurrency industry was in its early days and the world was still largely unfamiliar with the concept of digital assets. In little over a decade, crypto has grown from a puzzling innovation pertaining to the digital realm to a thriving asset class and a disruptive force in the financial industry, with XRP as one of its most notable players.
Throughout its existence, XRP has demonstrated resilience and endurance, holding steady in a market known for its extreme volatility, where thousands of projects have emerged and failed over the years. The fact that XRP is still around suggests that the crypto holds great potential. But while the past has established XRP as a force to be reckoned with, the future holds many questions as crypto supporters are now wondering how high or low will XRP go. So, if you’re planning on buying XRP sometime soon or simply want to learn more about its price outlook, it’s worth checking out experts’ XRP prediction to get a clearer view of its prospects for the future.
A look back at XRP’s past performance
XRP’s price trajectory can be compared to a rollercoaster ride with major upticks followed by sharp drops. This is the normal state of affairs for all cryptocurrencies, except for stablecoins which utilize different mechanisms to preserve a relatively steady price, so it’s not a surprise that XRP has had its fair share of twists and turns.
In the first years after its launch, XRP saw little development price-wise. It wasn’t until 2018 that XRP’s value started to increase following its listing on several major crypto exchanges. With XRP stepping into the public eye, its price experienced a rapid increase of over 1800%, going from $0.2 to $3.84 in a matter of months. Unfortunately, it wasn’t long until the crypto was pulled back, losing over 90% of its value. A few years later, during the 2021 bull market, XRP went through a similar stage, going up by more than 700% and reaching $1.96, then entering a period of steady decline until hitting $0.3.
It’s also important to mention that Ripple’s performance has been heavily influenced by its ongoing clash with the US Securities and Exchange Commission (SEC), despite the fact that the crypto company has claimed several major victories so far. At the time of writing, XRP’s price was standing at $0.48, with a market cap of $26.95B.
What might lie ahead for XRP?
Given XRP’s wins against the SEC, many are curious about how this might reflect on its future price performance. Analysts believe that the positive outcomes scored by Ripple in its legal disputes with the SEC can pave the way for further growth.
However, they also point out that the battle is far from over as Ripple only won a partial victory in the lawsuit and the final ruling might bring new developments that could change the outlook for Ripple.
A positive ruling for Ripple is expected to boost investors’ confidence in the asset and thus drive prices up. On the other hand, if the lawsuit reaches an unfavorable outcome for the company, it’s safe to assume that this will negatively impact XRP’s price. This has generated a wave of anticipation around the legal battle between Ripple and the Securities and Exchange Commission.
Rise or fall: two different scenarios to consider
It’s worth reminding everyone that Ripple’s legal dispute with the SEC is just one in a wide range of factors influencing XRP’s future price movements. Many other elements come into play here, some weighing more than others. This makes it extremely difficult even for the most experienced analysts to come up with accurate predictions regarding XRP’s trajectory in the long run.
To avoid falling into extremes and keep a more realistic view of what might happen with XRP in the future, one needs to consider two different narratives. The first, paints a relatively positive picture for XRP, considering the price pattern it has exhibited before and after its partial win against the SEC.
XRP’s price rose in the past, fueled by its legal victories, but the downward trend before these developments indicates that investors are still cautious and have yet to regain full confidence in the asset’s potential for recovery. If Ripple comes out unscathed following the court’s final decision, there are great chances that the price will go up again, but there are no guarantees that XRP will also maintain momentum.
It’s equally important to consider the broader context and think of all the other factors that could impact XRP’s value such as an upcoming bull market, which could lift all boats.
The other scenario is less optimistic. Even if the court’s decision favors Ripple, the excitement prompted by the win can only last so long and once the waters calm down, XRP could find itself on a downward slope. XRP has been relatively steady but slightly bearish recently, and if the asset continues on this path, it could experience further decline.
Moreover, the emergence of a bear market is just as likely as the arrival of a new bull run for crypto assets and XRP is just as vulnerable to both. In the case of a new bear market, XRP is likely to suffer a considerable fall, making it all the more difficult for the crypto to recover its lost value.
With Ripple still in the crosshairs of a legal battle and the XRP price registering a 15% decline since the start of the year, it’s hard to tell what might happen next. For the time being, we can only speculate on the subject and wait patiently to see how things will unfold.
