Cryptocurrency prices have fallen over the past 12 months. This also included the XRP token, which is also struggling with legal issues. Because Ripple Labs still has to deal with the dispute with the SEC. But a court decision could come in 2023, which could either blow up or drop the price. How have the Ripple (XRP) predictions for 2023 been since then?
In this article, we want to deal with Ripple (XRP) predictions for the coming year 2023 and look at different scenarios.
How did the price of XRP move in 202?
In 2022, the XRP coin, like other coins in the crypto market, had to accept heavier losses. Because the price of XRP has gone from $0.84 to $0.34 in the last 12 months. Casualties were heavy, but relatively lower than many other guns. However, this was also due to the fact that the all-time high of the XRP coin dates back to 2018 and the price originated from a lower level.
The losses were particularly severe in the first half of 2022. By mid-June, the XRP price had suffered a loss to $0.30. However, in the second half of the year, the price began to stabilize.
At the end of September, we then saw a further sharp rise in prices up to $0.53. The FTX crisis in turn led to a decline to $0.33, which worsened Ripple’s (XRP) forecast for the end of 2022. In the past few weeks, the price stabilized again at $0.34.
Why might XRP price see another increase in 2022?
In September 2022, the price of XRP rose again by more than 60%. This surge came at a time when few other cryptocurrencies could see price increases. This was mainly due to the positive news regarding the legal dispute with the US Securities and Exchange Commission. This dispute between Ripple and the SEC has weighed on the XRP price for more than 2 years. You can read more about the dispute in this article.
Whenever there are supposedly exculpatory facts for Ripple or when the SEC has to issue exculpatory documents in court, we see relatively strong price increases. This could also be the case again in 2023. But a guilty verdict against Ripple could cause XRP price to implode. We have to keep this in mind with the Ripple (XRP) forecast for 2023.
What is the Ripple (XRP) prediction for 2023?
The year 2023 could once again lead to higher prices in the crypto market. But a prediction for Ripple (XRP) is relatively difficult to make. Because the legal battle with the SEC is paramount. After several delays, a decision should finally be made in 2023. We want our Ripple (XRP) forecast to depend on the outcome of the court decision. To do this, we would like to look at both scenarios, positive and negative.
What is our Ripple (XRP) prediction for 2023 if Ripple wins the lawsuit?
If the legal battle is won, the price of XRP should be able to explode in 2023. It must be considered that the whole market could increase in the medium term, as it did 4 years ago. At that time, the price of Bitcoin tripled. If this is repeated, altcoins could increase by a factor of 3 to 5. XRP price could actually increase even more if Ripple is acquitted. However, after such an increase, year-end consolidation becomes more likely. We assume a Ripple (XRP) forecast for the end of 2023 between $1.20 and $1.60.
What is our Ripple (XRP) prediction for 2023 if Ripple loses the lawsuit?
If Ripple loses the lawsuit against the SEC, it would be bleak for the XRP price. XRP would therefore officially be a security. The company would likely have to pay heavy penalties and trust in the XRP coin would be severely disrupted. In this case, we assume that the price will go down. The Ripple (XRP) forecast for the end of 2023 would be $0.05 to $0.10.
Is an investment in XRP Coin worth it?
You have to decide for yourself if an investment in the XRP coin is worth it. Because the danger of an implosion of the XRP price after a guilty verdict is still there. If you are willing to take this risk, you could win a lot. Just keep in mind that you can also lose a lot.
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