While the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) is expected to be resolved at some point in 2023, the price of XRP remains a hot topic. The SEC claims that Ripple’s sale of XRP tokens constitutes an unregistered securities offering, which Ripple denies.
Possible Dangers of the Ripple Case
The outcome of this case remains important not only for Ripple, but also for XRP investors. An unfavorable ruling could result in XRP being classified as a security, which could lead to massive pressure from regulators and potentially impact the price of XRP.
As we head towards 2023, the Ripple-SEC case is expected to reach its conclusion and many investors are wondering what impact this will have on the price of XRP. To shed light on the matter, leading financial experts have weighed in. The predictions about XRP’s value at the end of 2023 and the possible impact of the SEC ruling really stand out.
Investment Analyst Tim Doman’s Prediction
Investment analyst Tim Doman pointed out the ongoing lawsuit against Ripple Labs, which has significantly affected the price of XRP.
However, the analyst stated the following:
Recent court rulings seem to be in Ripple’s favor, leading to positive market sentiment. XRP has some great qualities such as being a perfect bridge between currencies, being open-source, permissionless and carbon-neutral. Also, transactions on XRPL happen in just 3-5 seconds, which is impressive.
Doman mentioned the Balmain and Lotus partnership, which he believes could open up new possibilities for XRP, and said that introducing fashion and automotive NFTs to XRPL could increase the value of XRP in the long run.
He added:
XRP’s average price forecast for November 2023 is around $0.5, which is not bad at all. And the highest possible price? About $0.54. While the lawsuit and market volatility create uncertainty, XRP has strong fundamentals, so we could see growth until the end of 2023.
Donny Gamble, CEO of Pension Investments
Donny Gamble emphasized his views on XRP’s ability to experience growth in the future. First, he noted that the XRP team is working to improve the technology it has created and build partnerships with major financial institutions around the world. This could increase the adoption of XRP as a payment method. This could be a significant growth driver for the asset.
Secondly, he sees XRP’s scalability as an advantage compared to other cryptocurrencies, which will become increasingly important as demand for cryptocurrencies continues to grow. Finally, he noted that Ripple is expanding its user base and partnerships:
This could create more opportunities for XRP to be used in mainstream applications, which will help support its growth going forward.
Daniel Wilczyinski, Founder and CEO of HardBlock
According to Daniel Wilczyinski, Founder and CEO of HardBlock, the future of XRP will be determined by several key factors. One of the most important ones will be the resolution of the SEC lawsuit, which could have a huge impact on the price of XRP.
He also added the following:
Greater adoption by financial institutions and positive regulatory developments could increase its value. However, the competitive landscape and overall market sentiment will also play important roles.
End-2023 AI Forecast for XRP
According to available data, forecasts made by CoinPriceForecast, a financial forecasting platform that uses machine self-learning technology, point to a significant increase for XRP by the end of 2023. The price prediction by artificial intelligence (AI) at the end of 2023 was $0.49.
At the time of writing, the price of XRP is trading at $0.4292, reflecting a 1.17% increase in the last 24 hours. However, the previous week saw a 6.50% drop in XRP’s value.
