The eagerly awaited report from Ripple has stirred excitement among investors. But how high can XRP reach this year? The expectation of the lawsuit’s conclusion in the coming weeks has been voiced by Ripple’s CEO. More importantly, Ripple continues to grow as a company. All of these factors are developments that will positively impact the future of XRP Coin. So, what are the price predictions?
XRP Coin Future
Ripple‘s report, despite hurdles faced in 2022 and the early months of 2023, reveals a prevailing sense of excitement surrounding the potential of cryptocurrencies and digital assets. Traditional financial companies are showing increasing interest in the crypto market by investing in crypto assets, expanding their offerings, and establishing partnerships. This growing participation boosts public trust and generates more interest among investors.
For instance, Ripple’s partner Tranglo has collaborated with Lulu Money to provide individuals and businesses with secure and cost-effective fund transfer solutions. Developments like these may soon start to bear fruit for XRP Coin investors. The latest report suggests that 79% of participants could integrate crypto solutions into their business.
A report by the Boston Consulting Group (BCG) predicts that tokenizing global illiquid assets could present a $16 trillion business opportunity by 2030. This implies that the business volume of mammoth crypto companies like Ripple could expand.
Ripple 2023 Predictions
Crypto-backed payments are considered the most likely path for widespread crypto adoption. Both businesses and financial institutions recognize the importance of accepting payments, facilitating customer payments, and carrying out cross-border transactions. Multiple governments are already striving to build their digital payment systems in partnership with Ripple. The US is also seeking Ripple’s assistance in its digital dollar initiatives. Considering all this, we see that the price of XRP Coin could benefit from the current environment in the medium and long term.
The completion of the lawsuit in the coming weeks could lead XRP Coin to start trading on significant exchanges like Coinbase, potentially triggering a demand wave centered in the US. Furthermore, the conclusion of the lawsuit could also free XRP Coin from the SEC threat, setting it apart from other altcoins.
Given all this, expectations are building that the $120 billion market value from January 2018 can be achieved. Today, XRP is worth only $25 billion. In the upcoming bull season, based on the 2018 valuation, the price of XRP Coin would need to reach approximately $2.3. In an environment where the cumulative value of cryptocurrencies peaks higher than $3 trillion, the token value could surpass $5 per token.
Medium-term technical indicators point to a price target between $0.6 and $0.8. We could consider this a post-lawsuit target in a future where the general market sentiment is similar to today.
