What's wrong with XRP: a few words about the position of the cryptocurrency
Throughout 2022, the team of the Californian startup Ripple tried to prove its case in the conflict with the American Securities and Exchange Commission (SEC) , which began at the end of 2022.
Let us remind you that the regulator accuses the project of illegal sale of securities in the form of XRP tokens. The Ripple team, in turn, insists that the SEC incorrectly determined the status of the cryptocurrency.
Regulatory pressure has negatively impacted XRP . For example, the cryptocurrency, unlike other coins - leaders in the capitalization rating - failed to update its maximum value in 2022 against the backdrop of a positive movement in the digital asset market. At the same time, many participants in the crypto community were able to profit from fluctuations in the XRP rate due to frequent changes in the news background.
XPR chart. Source: CoinMarketCap
Despite the fact that the conflict has been going on for more than a year, the startup and Commission teams have not been able to find a way to resolve it. At the same time , Ripple believes that 2022 could be decisive for the confrontation between the parties.
The editors of BeInCrypto asked experienced members of the crypto community to give their XRP forecast. More on how experts see 2022 for the Ripple cryptocurrency is further in the material.
SEC lawsuit against XRP. Cryptanalyst's opinion
Renowned cryptanalyst Lark Davis said the crypto community should “root for Ripple to win” this trial.
In a recent video that was full of interesting predictions for 2022, renowned New Zealand cryptanalyst and general influencer Lark Davis told his more than 476 thousand subscribers to his YouTube channel why the crypto community should “root for Ripple to win” this trial. The lawsuit was filed by the US Securities and Exchange Commission (SEC) against the California-based fintech firm.
The video was about a tweet Davis posted on December 16 in which he revealed his top eight “shocking” crypto predictions for 2022.
Here are my Top #crypto #bitcoin predictions for 2022!
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— Lark Davis (@TheCryptoLark) December 16, 2021
One of these predictions concerned Ripple. As you may recall, on December 22, 2022, the SEC announced that it had “filed a lawsuit against Ripple Labs Inc.” and two of its executives, who are also major holders of securities, alleging that they illegally made more than $1.3 billion in securities and digital assets.”
Here are my Top #crypto #bitcoin predictions for 2022!
Thread
— Lark Davis (@TheCryptoLark) December 16, 2021
In a video posted on December 27, Davis says Ripple will win this lawsuit, or at least he sincerely hopes so. Davis says that the SEC is acting like the “school bully” and that the SEC's position (and in particular its chairman Gary Gensler) is that almost all crypto assets currently listed on exchanges are unregistered securities. severely limits the participation of US investors in the crypto space (for example, it says they are not allowed to participate in ICOs).
Davis continued by saying that if Ripple wins this case, it will “set a serious precedent” and put the SEC “in its place.” He says this is why everyone in the crypto community should “root” for Ripple to win. He believes this would be a “net positive” for the crypto industry. On the other hand, if the SEC wins against Ripple, it will give them the confidence to pursue legal action against a wide range of tokens.
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Author: Anastasia Zapolskaya, analyst at Freedman Сlub Crypto News
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XRP forecast: opinions
StormGain cryptocurrency exchange expert Dmitry Noskov was the first to give his XRP forecast for 2022 . He believes that the behavior of the Ripple cryptocurrency depends on two factors:
- Movements in the digital asset market.
- State of conflict between Ripple and the SEC.
According to Dmitry Noskov, in 2022, in the event of general growth in the digital asset market, XRP may gain a foothold above the $1 level. If the Ripple cryptocurrency gains heights, he believes it could rush to $2 or higher.
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the founder and head of the Cryptonisation project, Alexander Zyl, presented his XRP forecast for 2022 . He noted that it is difficult to predict the behavior of the Ripple cryptocurrency in comparison with other top altcoins. He explained his point of view by saying that the project is centralized. Therefore, the behavior of XRP largely depends on the decisions of startup leaders .
At the same time, Alexander Zyl drew attention to the fact that Ripple carries practical value. The technical solutions of the Californian startup are used by many market participants. Among other things, Ripple tools help traditional financial institutions reduce the cost of cross-border transfers. The relevance of the startup’s developments, according to the expert, despite the conflict with the SEC, makes the project promising.
“In general, I believe that we will see confident trading of XRP above one US dollar, but we still should not expect any global growth,” Alexander Zyl summed up his Ripple forecast for 2022.
Great analysis and forecast of the cryptocurrency rate of Ripple, XRP for 2022, 2023, 2025, 2030
XRP Price Prediction: Recent Review In the world of cryptocurrencies, XRP is a completely different matter. It is decentralized, but not as decentralized as Bitcoin, Ethereum and the like. Unlike them, it does not seek to be an alternative to the traditional banking system, but rather seeks to collaborate and improve the traditional banking system. However, it is a cryptocurrency.
XRP is a cryptocurrency issued by Ripple and is one of the top 10 cryptocurrency tokens by market capitalization. In recent months, he has had his share of disagreements with the Securities and Exchange Commission (SEC) filing a lawsuit against the company behind the crypto asset and its executives. The lawsuit focuses on whether XRP is a security or not. This is a multi-million dollar question that has not been satisfactorily answered for years and will determine the future of the digital asset. While the announcement of this case initially resulted in a massive drop in the asset's value, the token has since recovered, largely thanks to retail investors and traders pumping up its value plus the overall crypto industry bull run towards the end of last year. In this article, we explore the current value of XRP, how much it will be worth in the near future, and the factors that could determine its future value.
The emergence and growth of Ripple XRP
Ripple has been around for a long time. It was created back in 2004 as RipplePay, but its innovation came too early for its time, as it was not a big deal back then. However, it returned as Ripple in 2012 and launched the XRP token shortly thereafter. Ripple XRP is unlike any other cryptocurrency. It varies on many levels, including:
It is not blockchain based
Unlike most existing cryptocurrencies, the coin does not operate on blockchain technology. Instead, it is based on Ripple protocol technology, which means it cannot be used for a distributed ledger database. This uses gateways connected to company servers in several countries around the world to validate and process transactions.
It cannot be obtained
While the mining process is considered an integral part of all tokens, this is not the case with XRP. The limit on XRP coins is set at 100 billion coins created by the company. More than 35% of this coin has been released to the market, and the rest is owned by a company that issues it periodically to control the supply and circulation of the token. Cryptocurrency is deflationary because the number of coins in the market decreases with each transaction.
Relations with banks
This virtual asset is centralized and its parent company, Ripple Lab, is looking to partner with traditional financial institutions such as banks. The company sells its RippleNet technology to these institutions, thereby increasing the popularity of its own Ripple token XRP. RippleNet technology is a system that connects banks and facilitates international payments and settlements. Because of the differences between Ripple XRP and other cryptocurrencies, it also has some advantages. Some of them:
Transaction speed
This is one of the most important arguments in favor of Ripple technology. Transaction speeds exceed those of other cryptocurrencies and exceed the speed of SWIFT bank transfers, a widely used system in traditional banking. This makes it the best alternative for banks to facilitate cross-border payments as its XRP transactions are very fast.
Budget
Traditional banking and certain cryptocurrencies tend to require high transaction fees. But with this digital currency, that fee drops dramatically to pennies.
Reversibility of transactions
Another positive is that the transaction can be reversed or edited to correct an error if there is one. All these features have allowed the Ripple network to create partnerships between traditional financial institutions. And this has also contributed to the rise in the value of Ripple XRP over the years.
XRP Price Review
For many years after its creation, the value of the coin was so insignificant that it was worth almost nothing. Until 2022, the asset's value hovered around $0.01, but this soon changed as the token began to gain wider coverage and it also took advantage of the crypto industry's bull run that year. By April 2022, XRP had risen to $0.05; the gradual rise soon continued, reaching $0.25 in May. After this, the asset had no return as it attracted the attention of crypto enthusiasts who saw the value it created and the potential it had. The asset's value rose throughout 2022 and into early 2022, when it reached a record high of $3.84 . But this was soon followed by a sharp drop in value, which affected all other cryptocurrencies; Many have called the industry's incredible growth simply a bubble, and like any bubble, it is about to burst. This is exactly what happened with the 2022 crypto bull run. By the end of 2022, its price stabilized at $0.30 and did not exceed $0.5 throughout the year. This means that Ripple XRP has since been unable to build on its former glory, as its value never reached the dollar.
However, the 2022 bull run that began towards the end of the year helped the asset's value rise. The token price reached $0.8 before ending the year at $0.66. The beginning of 2022 was supposed to see a continuation of the rise in the value of XRP, but this could not happen due to the SEC's announcement of a lawsuit. Following the announcement, some exchanges delisted XRP from their platform. Many of those who held the token also sold in panic. This caused the value of XRP to fall to $0.166. However, it rose again, rising to $0.755. Ripple is currently trading between $0.4 and $0.5. Looking at this overview, it is easy to see the high volatility of XRP over the past few months, making it difficult to make a Ripple forecast. But volatility doesn't stop analysts from making trend-based predictions for XRP. This only means that these forecasts can change with the slightest fundamental news in the market. However, they still provide a rough estimate of what to expect from the ripple rate.
XRP Price Prediction in 2022
There are several predictions regarding what Ripple's outlook for 2022 will be. This includes its peak price, what it will be worth by the end of the year, and its lowest value during the year.
XRP/USD 5-year history chart
According to Moody's research, an investor can expect 2021 to be a good year for blockchain with a huge increase in standards that will directly impact Ripple's price. Ripple XRP already has development plans for 2022. Considering how past events have caused XRP to increase in value, the currency could reach $2. This will happen if the actions of Ripple's technology lead to partnerships with more financial institutions. In the past, XRP's popularity and subsequent rise in value has largely depended on partnerships with these traditional institutions. More partnerships will mean greater acceptance by society, which invariably means higher value. However, things are not so simple for XRP. The SEC's lawsuit further complicates matters. Before the SEC filed its lawsuit, the outlook for XRP was positive, even if it wasn't encouraging. But the lawsuit interrupts the breakthrough and makes Ripple's price prediction trajectory more difficult, unlike other cryptocurrencies. Considering how difficult it is to accurately predict a digital asset, it is even more difficult for XRP. Following the lawsuit, more traders are becoming bearish on the XRP cryptocurrency, raising fears it could fall below 10 cents. However, rising prices from retail investors and traders allowed it to rise again. If anything, all these events show how highly reliable cryptocurrency can be. If XRP experiences a real breakout in 2022, it could reach its all-time high of over $3. But that looks unlikely while the SEC lawsuit hangs overhead.
According to Coinpedia, even with the lawsuit, Ripple's XRP will trade at an average of $0.65 by the end of the year.
The company based its forecasts on expert opinions that the currency would average $0.83 by the end of January 2022. This, of course, did not happen. Thus, the maximum price forecast for the year is $2, although it could also fall as the minimum price forecast is $0.1 if the SEC lawsuit is not settled in Ripple's favor. XRP Forecast for 2023
While the outlook for 2022 may not look very bright, the $1 predictions for the future look excellent. While it may not be as high compared to Bitcoin or Ethereum, its growth is expected to continue and its value could reach $3 by 2023. This will happen if all the development plans that Ripple currently has are initiated, allowing it to expand partnerships not only with financial institutions, but also with other institutional investors. This expansion of Ripple's capabilities will bring immediate benefits to XRP.
Ripple XRP Price Prediction for 2025
Five years from now... that's a lot of time to determine what the real price will be. However, according to algorithmic analysis by Coinswitch, Ripple's price is likely to be around $4.52 by 2025. Future and ongoing partnerships with banks in Latin America and Europe will benefit Ripple's technology. This partnership will open the door for XRP to gain wider adoption in other parts of the world besides America. This is already working as a larger percentage of XRP holders are not located in America. Coinpedia has a more bullish view on how much the XRP coin will be worth in 2025, with its price forecast putting the currency in the $4 to $8 range by then, which would be a record high. However, the midpoint of this forecast is suggested as a likely outcome. This means that by 2025, one XRP will cost around $6. By this time, the adoption rate will reach a level where users will be more comfortable transacting and trading with the currency. Thus, for 2025, the maximum projected value of the asset will be $8, but could fall to $4.
Ripple XRP price forecast for 2030
The long-term forecast of what the value of XRP will be in the next ten years also seems very remarkable. Experts expect the currency to grow exponentially as its adoption rate increases over time. According to forecasts, by 2030 its rate will exceed $17. According to Coinswitch, crypto enthusiasts believe that the use of XRP will increase significantly by then. At this time, it may become one of the favorite cryptocurrencies.
Latest Ripple forecasts
Predicting the real value of Ripple's XRP in such a volatile market is quite difficult. However, many platforms have made some form of prediction about how much the token will cost, and this represents an easy way to get a clear idea of what to expect. Here are some of the forecasts: Read more foreck.info/prognoz-ripple/bolshoj-analiz-i-prognoz-kursa-kriptovalyuty-ripple-xrp-na-2021-2023-2025-2030-god
Let's sum it up
The future of XRP largely depends on the outcome of Ripple's conflict with the SEC . Moreover, even if the parties cannot find a compromise in 2022, the cryptocurrency will still be able to grow . An important condition for this will be the positive dynamics of the digital asset market as a whole. Time will tell which XRP forecast will be more correct.
Let us remind you that BeInCrypto previously included XPR in the top 8 environmentally friendly cryptocurrencies for investment.
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