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Investors continue to closely monitor the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC), making XRP one of the most closely watched cryptocurrencies in the market. Although XRP generally follows crypto market trends, the case has put it in a unique position, and investors are keenly interested in how the court’s decision will affect the popular altcoin. The case is expected to be concluded this year, making the observation of XRP‘s price movements particularly interesting. We have compiled the price predictions and comments put forward by CoinCodex, which uses a self-learning machine algorithm, for Ripple’s XRP coin for 2023, 2024, and 2025.
What’s XRP’s Value? 2023 XRP Price
According to data provided by the crypto price data platform CoinMarketCap, XRP is trading at 0.4842 dollars, up 0.90% in the last 24 hours as of the time this article was prepared. XRP, the 6th largest crypto with a market value of 25.29 billion dollars, has generated a volume of 929.1 million dollars in the same time period.
CoinCodex, a crypto price data platform known for consistent price predictions using a self-learning machine algorithm, says that XRP’s price will be at 0.58 dollars on the last day of the year, December 31, 2023. This price prediction from CoinCodex signifies a 20% increase for the popular crypto, which is trading at an average of 0.48 dollars as of the time this article was prepared.
XRP Price in 2024 and 2025
CoinCodex also offers price predictions for XRP by comparing it with other significant technological innovations and trends. This comparison offers a way to predict where the price of XRP coin could go in the long term.
In this regard, the platform offers potential price scenarios for XRP by referencing the trajectories followed by the growth of the internet, mobile technologies, and major tech companies like Google (NASDAQ: GOOGL) and Facebook (NASDAQ: META). Accordingly, if XRP follows the growth trajectory of the internet, it could trade at 0.62 dollars in 2024 and potentially reach 0.80 dollars by 2025. This means a 66% increase from current prices.
On the other hand, if it follows Google’s growth trajectory, it could reach 0.91 dollars in 2024 and potentially reach 1.42 dollars in 2025. This represents approximately a 200% increase.
XRP Coin Comment
While the decision to be made in the SEC case continues to be an important driving force for the price of XRP coin, analysts argue that a decision that will be positive for the issuing company Ripple will be a bullish signal for altcoin, while a negative decision could have the opposite effect.
An example of this was seen in the price movement of XRP after the publication of the famous Hinman documents. After the documents were published openly, the XRP price quickly rose and climbed up to 0.56 dollars.
Besides the legal challenges in the US, Ripple also relies on partnerships related to payment technology as a factor that could positively affect XRP’s price. For example, CEO Brad Garlinghouse noted that the company received interest from other parts of the world, along with recent announcements about expanding to Dubai.
Despite all the legal hurdles it has faced in the US, XRP coin managed to stand out as the third most traded cryptocurrency in terms of transaction volume and market depth produced in the second quarter of the year, after Bitcoin (BTC) and Ethereum (ETH).
