Ripple’s XRP: A Surge in Sight Amidst the Closing of a Long-standing Case?

High expectations are buzzing around, and the end of the lawsuit is almost in sight. Yet, the question remains: what will be the price? Although Ripple’s CEO prediction is seen quite optimistic, he is one of the most authoritative figures and should be taken into account. There is a possibility that the Ripple lawsuit will conclude within weeks. However, this anticipation is yet to trigger a significant price surge. 

Ripple Case Price Prediction

Ripple‘s XRP has recorded a 10% growth in the last three weeks. The reason behind this surge is the growing optimism that the lawsuit will soon conclude. Notably, this increment took place amidst the general market downturn. The bulls now aim to surpass the 0.5 dollar level and run towards new peaks. 

So far, in May 2023, XRP has shown better performance than BTC and ETH. The Ripple community expects the long-standing lawsuit to end in the forthcoming weeks. XRP coin whales have also moved in a way that reflects this anticipation. The initial goal is for the price to exceed 0.5 dollars before this decision, and subsequently, XRP will seek support for the new 2023 peak. 

How Many Dollars Will Ripple (XRP) Be?

Crypto whales have sped up their purchases this month. On-chain data highlights the contribution of a group with a balance of 10 million to 1 billion XRP in the May rise. Between April 30 and May 26, this whale group purchased a total of 290 million XRP coins. Evaluating this acquisition at the current market value of 0.47 dollars, these purchases are worth 136 million dollars. Considering the lack of liquidity in the market, this is indeed a significant amount. Moreover, since this whale group holds a considerable portion of the supply, their current and future impact on the price is substantial. 

However, according to the MVRV data, despite the 10% increase, most crypto investors who bought XRP in the last month are only making a 2% profit. In the past, we haven’t seen them sell until they reach a profit of around 7%. Therefore, the initial target of 0.5 dollars seems reasonable. If demand revives in this area, especially with the excitement of the case, it is quite likely to visit 0.6 dollars in the medium term. On the flip side, closing below 0.45 dollars could lead to a decline down to 0.4 dollars.