With Bitcoin and Ethereum surging, what does the Ripple price prediction indicate about XRP’s ability to catch up with these market leaders?

Ripple (XRP) has been in the spotlight for quite some time, but not necessarily for the reasons its fans would hope. Since the start of the year, XRP has traded flat, showing disappointing performance. While Bitcoin (BTC) and Ethereum (ETH) have surged by 69% year to date (YTD), and other altcoins have gained more than 100%, Ripple’s value has declined by nearly 15%, currently sitting at $0.53.

Despite this lackluster performance, Ripple has made notable strides in its business operations. Recently, Ripple announced a new partnership with Clear Junction to facilitate instant and secure GBP and EUR-denominated payouts for Ripple’s payment customers. This partnership expands Ripple’s reach and capabilities in the financial world. Ripple’s official website also hinted at more customer additions by the end of the year through this partnership, which could potentially enhance its market position.

Adding to this momentum, Ripple CEO Brad Garlinghouse recently appeared on Fox Business, advocating for the approval of multiple altcoin exchange-traded funds (ETFs). He argued that just as investors diversify their portfolios with commodities like gold and silver, they should also have the option to diversify with various crypto assets. Garlinghouse, recalling the days when XRP was the second-largest digital asset by market capitalization, confidently stated that the approval of an XRP ETF was “inevitable.”

Despite these promising developments, the looming legal battle with the U.S. Securities and Exchange Commission (SEC) continues to cast a shadow over XRP. With all eyes on the upcoming court decision, the big question remains: where is XRP headed next? Will the legal clarity bring a much-needed boost to its price, or will the uncertainties continue to weigh it down?

The ongoing saga of Ripple vs the SEC

The legal saga between Ripple and the SEC has been a rollercoaster of twists and turns, each development sparking waves of speculation in the crypto world. This high-stakes battle began in December 2020 when the SEC accused Ripple of raising over $1.3 billion through an unregistered securities offering by selling XRP.

The Ripple vs. SEC case took a dramatic turn in July 2023 when U.S. District Judge Analisa Torres delivered a landmark ruling. She determined that Ripple’s sales of XRP to institutional investors qualified as securities under federal law, but sales to the general public did not. Judge Torres applied the Howey Test, a legal standard from a 1946 Supreme Court case, to make her decision. She found that institutional investors understood Ripple’s pitch as a speculative investment, fitting the criteria of an investment contract. However, she ruled that programmatic sales to retail investors on exchanges did not meet this standard because those buyers were unaware of Ripple’s statements about XRP’s potential profits.

The decision from Judge Torres was hailed as a major win for the crypto industry, as it potentially limits the SEC’s jurisdiction over cryptos traded on public exchanges.

Recently, the case has heated up again. Ripple filed a reply letter supporting its motion to seal data related to the SEC’s motion for judgment and remedies. Initially, Ripple wanted to seal and redact certain evidence and financial documents, but the SEC opposed this move. The SEC argued that this financial and securities sales information was crucial, as it constituted “judicial documents” central to the arguments about remedies and could influence the court’s decision. Ripple, however, contends that these historical contracts are irrelevant because they have amended their XRP sales procedures. The company highlighted that it no longer sells XRP through over-the-counter transactions, which were classified as “institutional sales” by the court. Instead, Ripple now sells XRP to customers for use with its on-demand liquidity (ODL) product, which lacks the controversial terms of the previous over-the-counter contracts, such as discounts for sophisticated counterparties.

The final phase of the lawsuit saw both parties submitting necessary documents and briefs to magistrates. The court’s decision could come at any time, adding another layer of suspense to this already dramatic legal battle. Judge Netburn, who has been nominated to serve as a federal judge in the U.S. District Court for the Southern District of New York, will handle the latest developments. Her decisions on these motions could shape the future of XRP and set important precedents for the crypto industry.

What’s next for Ripple?

As the legal battle with the SEC continues, Ripple is stepping up its game, not just in the courtroom but also in the market and political arenas. One of the most exciting developments is Ripple’s plan to launch a USD-backed stablecoin, which will be fully backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. According to Ripple, the stablecoin market is projected to exceed $2.8 trillion by 2028, up from around $162 billion today. Ripple aims to tap into this growing demand. The stablecoin will initially be available on the XRP Ledger (XRPL) and Ethereum blockchains.

Over time, Ripple also plans to expand to other blockchains and decentralized finance (DeFi) protocols, driving more use cases, liquidity, and opportunities for developers and users within the XRPL community and beyond.

In addition to product innovations, Ripple is also actively engaged in shaping the political arena in the U.S. The company recently announced a $25 million contribution to Fairshake, a federal super PAC dedicated to supporting pro-crypto, pro-innovation political candidates in the 2024 elections. Ripple’s contribution is in addition to the $25 million it contributed in 2023 and is part of an industry-wide effort to promote policies that support financial innovation in the U.S., aiming to challenge the SEC’s regulatory hiccups and advocate for a more favorable environment for crypto businesses.

As Brad Garlinghouse mentioned, Ripple and the crypto industry cannot remain silent while regulators impede innovation. The upcoming elections are seen as crucial for the future of crypto in the U.S., and Ripple aims to ensure that the right candidates who support crypto are elected.

Ripple price prediction: will Ripple price rise?

Recent analyses suggest that XRP might be on the brink of a significant price surge fueled by technical patterns and legal clarity. DustyBC, a prominent crypto analyst, shared a chart predicting a potential “God candle” for XRP, which could push its price above $28. This Ripple coin price prediction represents a staggering 4,000% price gain.

IF THIS HAPPENS FOR $XRP I’M QUITTING EVERYTHING!

DustyBC’s analysis is rooted in a symmetrical triangle pattern, a technical formation indicating that XRP has been consolidating since 2017, with a breakout possibly on the horizon. Another crypto enthusiast, Javon Marks, shared an even more optimistic outlook. Marks speculates that XRP could exceed $200 if it follows a full logarithmic growth path.

With a Full Logarithmic Follow through, prices of $XRP (Ripple) may be more than poised for $200+. Prices of Ripple went on an over +108,000% run in the 2017-2018 run and has since setup and broke out of its largest resisting structure EVER! A mind-boggling, +33,030% run from…

Marks’s Ripple crypto price prediction is based on Ripple’s historical performance, where XRP witnessed over a 108,000% run during the 2017-2018 bull market. He believes a similar, if not more substantial, rally could be on the horizon, pointing to a potential 33,030% increase from current levels. Another crypto analyst argued that Ripple’s ongoing three-year battle with the SEC is the reason for XRP’s underperformance during the last bull run.

A lot of people hate $XRP for one reason or another. Realistically, we know as investors that when a lot of people ‘feel’ a certain way, there is probably value in the asset they feel that way against. With that being said, $XRP is in a unique position. Like it or not,…

However, this prolonged consolidation period, combined with its historical ability to surge dramatically (10,000% in 60 days and 61,000% in 280 days in 2017), suggests potential for future gains. The prolonged consolidation phase, according to technical analysts, often leads to substantial expansion, making XRP a compelling asset to watch, he added.

However, not all Ripple crypto price predictions are this bullish. Some forecasts suggest more modest growth. For example, some analysts predict XRP to be at $0.579 by 2024 and $0.478 by 2025. On the other hand, other forecasts offer a more optimistic Ripple price prediction for 2025, placing XRP at $1.29. They also predict XRP to reach $3.88 by 2030, reflecting a long-term bullish outlook for the Ripple price prediction for 2030.

Always keep in mind that these XRP forecasts and Ripple projections are based on current market trends, technical analysis, and analyst opinions. They can, and often do, go wrong. Hence, never make these XRP price predictions a basis for your investments, and always conduct your own research. Keep the golden rule of investing in mind: never invest more than you can afford to lose.

FAQs

Is Ripple a good investment?

Ripple could 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’s important to conduct 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 depends on various factors, including market trends, legal developments, and overall adoption of the technology. While many experts have a positive Ripple prognosis, it’s essential to stay updated with the latest news and market analysis.

How high can Ripple go?

The potential for how high Ripple can go varies among analysts. Some believe it could see heavy gains, especially if regulatory clarity is achieved and adoption increases. However, exact future prices are uncertain and depend on multiple market factors.

Can Ripple reach $100?

Reaching $100 is ambitious for Ripple but not impossible if strong market adoption and favorable regulatory outcomes occur. Hence, it’s crucial to manage expectations and invest wisely.

How to buy Ripple (XRP)?

To buy Ripple (XRP), you can use popular cryptocurrency exchanges. Simply create an account, complete the verification process, and deposit funds to purchase XRP. Make sure to use secure platforms and follow best practices for safety.

Should I 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. Conduct thorough research before making any decision.

For more updates on cryptocurrencies, investing, and finance, explore more news on Global Crypto News.

Post Views: 10