XRP price prediction: Will XRP rise to $1?
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The XRP (XRP) cryptocurrency broke into a bull run during September and climbed to a 90-day high of $0.55.
The price jump came as a ruling was expected on the ongoing legal dispute between developer Ripple Labs and the US Securities and Exchange Commission (SEC). Both parties filed motions for a summary judgement on 17 September.
It has since fallen from that high as the hype surrounding the legal case has died down, though as it draws closer to its conclusion it remains to be seen what the outcome will be and how it will effect the cryptocurrency.
As of 20 January 2023, XRP was trading at $0.39339, down up 15% year-to-date (YTD) but down 28% from its September high.
XRP live price chart
Let’s look at the latest XRP news and price forecasts to help you form your own XRP crypto price prediction.
What is XRP?
Ripple Labs is a technology company that was designed to harness efficient payments and create blockchain solutions for financial institutions. It created the XRP ledger to achieve this.
The ledger uses an efficient consensus mechanism, which paves the way for fast, low-cost transactions. Thousands of developers use the network for a variety of applications.
The XRP cryptocurrency
XRP created its own cryptocurrency in 2012 to facilitate its payment solutions. The company boasts a settlement time of three to five seconds for XRP users.
Its website said: “It was built to be a better bitcoin – faster, cheaper and greener than any other digital asset.”
XRP was specifically designed with real-world uses in mind, and enables affordable cross-border payments and microtransactions for XRP’s clients.
Will XRP go up or down?
As seen on the XRP chart, the price started 2022 at $0.8313 and then dropped to a low of $0.5587 on 24 January 2022 as cryptocurrencies sold off.
XRP moved up to $0.91 on 8 February but was unable to hold on to its gains, retreating to $0.63 on 24 February 2022 as financial markets fell sharply following Russia’s invasion of Ukraine.
The XRP price moved up to $0.9081 on 28 March, but has been unable to sustain that level, trending down to $0.56 on 8 May. The price dropped to $0.3852 on 12 May 2022 as crypto markets plunged following the collapse of the Terra cryptocurrency tokens UST and LUNA.
XRP remained volatile in July, spiking and then pulling back three times. XRP reached the $0.40 level on 30 July for the first time since 10 June, but was unable to hold there and slipped back to around $0.37 in the first week of August. But that was still up from about $0.31 in early July.
Ripple Labs said in July that Jed McCaleb, the XRP co-founder who left in 2013 to launch the Stellar cryptocurrency, sold the last of his nine billion XRP coins. McCaleb was one of the largest individual holders of XRP – the fact he will no longer be releasing XRP into the market could remove some downward pressure.
Despite the news, the crypto failed to break out above the $0.40 level that month.
However, it started rallying in September and climbed to a 90-day high of $0.55. It was unable to sustain that level and fell 33% by the end of 2022 to $0.3388.
SEC case ruling expected soon
The SEC filed a case against Ripple Labs’ CEO Brad Garlinghouse and the company’s co-founder Chris Larsen in December 2020, alleging that XRP raised $1.3bn as an unauthorised security.
While the SEC claimed that XRP coin is a security, XRP argued that it does not pass the so-called Howey Test, which determines whether an asset is a security.
However, both parties filed motions for a summary judgement, which were published on 17 September. This saw the value of XRP surge, since the court case that has plagued XRP for almost two years could soon come to an end.
The cryptocurrency was especially bullish on 22 September, after Garlinghouse was interviewed on Fox Business. He expected a ruling from the judge and said it was unlikely the case would go to trial.
Garlinghouse also criticised the SEC. He said it had “lost its way” and was “cuckoo for cocoa puffs”.
In recent news about the case, XRP has officially received the so-called ‘Hinman documents’.
Judge Torres ordered the SEC to hand over the documents by William Hinman, the former director of the SEC’s corporate finance division. These documents refer to a speech by Hinman at the Yahoo Finance All Markets Summit in 2018, in which he made the case that ether (ETH) was not a security.
This could support XRP’s argument that, just like ether, the coin is not a security.
More positive news was recieved by XRP as 16 cryptocurrency companies came out in support for the blockchain company and filed amicus curiae briefs to the court. Among the 16 companies were the cryptocurrency exchange Coinbase, the advocacy group Blockchain Association and the Chamber of Digital Commerce.
The final motion for a summary judgement against the SEC was filed by XRP on 2 December 2022. In a redacted motion, XRP claimed that the SEC has failed to prove its accusations against the company. In the conclusion, XRP declared that “the court should grant Defendant’s Motion and should deny the SEC’s Motion.”
On 10 December, Cardano founder Charles Hoskinson said he’d heard rumours that the XRP case would be settled by 15 December, however, the case would end up continuing and as of 20 January 2023, a ruling is expcected soon.
Recent XRP news
Meanwhile, the Ripple Ledger has been working on its own sidechain, which has recently entered its testing stages. The purpose of the sidechain is to add interoperability to the blockchain, as it is compatible with the Ethereum Virtual Machine (EVM). This would allow developers to run Ethereum smart contracts on the Ripple Ledger
However, this sidechain is a long-term project consisting of three stages. The second stage will take place in early 2023, enabling any developer to join the network, and it will go live in the second quarter of that year.
On 27 October 2022, XRP published its Q3 markets report, which revealed that the company’s XRP holdings were below 50% of the total token supply for the first time. However, it also said that XRP’s net purchases were down by almost $100m compared to the previous quarter.
So what is the outlook for the volatile XRP price? Will the market bottom out, or is there a further downside? Read on for the latest XRP price predictions.
XRP price prediction: Is the volatile coin a buy or sell now?
Technical analysis from CoinCodex showed that sentiment for XRP was neutral as of 20 January, with 17 indicators showing bullish signals and 16 bearish. The site’s short-term XRP price prediction indicated that the coin could rise by 2.26% and reach $ 0.400235 by 25 January.
The XRP coin price prediction from Wallet Investor estimated that XRP could fall to $0.241 by the end of December 2023. The algorithm-based forecasting site’s XRP price prediction for 2025 suggested that the XRP price could move up to $0.0441 by the end of the year.
The XRP price prediction for 2023 and beyond from DigitalCoinPrice anticipated a pace of growth, averaging $0.77 in 2023 and $0.98 in 2024, based on historical data. The data showed that the average XRP price could potentially reach $3.99 by 2030.
The XRP price prediction from Gov Capital estimated that XRP could reach $1.017 in a year and climb to an average price of $4.812 in five years’ time.
PricePrediction offered one of the most bullish forecasts in its XRPprice prediction for 2030, estimating that the rate of ripple’s projected growth could accelerate later in the decade, with it predicted to be worth $8.10 in 2030.
According to PricePrediction, the crypto could trade at an average of $11.21 in 2031, up from $1.23 in 2025, based on the platform’s artificial intelligence-assisted price analysis.
When considering a XRP price prediction, it’s important to bear in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering trading XRP, we recommend that you always do your own research. Look at the latest market trends, news, and technical and fundamental analysis before making any investment or trading decisions. Keep in mind that past performance is no guarantee of future returns, and never trade with money that you cannot afford to lose.
FAQs
Is XRP a good investment?
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether XRP is a suitable asset for you will depend on your risk tolerance and how much you intend to invest.
Will XRP go up?
The coin’s performance will depend on the outcome of the SEC case, as well as the continued adoption of XRP’s technology solutions, and developments on the broader cryptocurrency markets.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether XRP is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.
Should I invest in XRP?
You should do your own research to decide whether the XRP coin could be an appropriate asset for your portfolio, based on your personal circumstances and investing strategy.
Remember that past performance is no guarantee of future returns, and never trade XRP with money that you cannot afford to lose.
Related reading
Comprehensive crypto trading guide: What you need to know about trading cryptocurrencies
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Ripple SEC suit decision: XRP court ruling timing and details in full
