The cryptocurrency market is seeing many assets slow down or reverse their previous gains, but XRP is not an exception. However, some crypto trading experts believe it could soon make an impressive recovery and even reach new all-time highs (ATH).
XRP Price Forecast
Crypto analyst Egrag Crypto noted that XRP is repeating its 2021 price trajectory, which previously brought it to a price level of $1.80. According to a post shared by Egrag on April 25, this suggests XRP could follow the same price path.
The analyst revealed that XRP’s current price movement could reach $1.4 by June-July, marking it as a significant price level, while considering the range between $1.2 and $1.8 as a reasonable price target.
Moreover, if XRP follows a path similar to 2021, it could potentially move towards a new ATH of $4, a +678% increase, according to Egrag Crypto. He also cautioned investors to “wait” due to the likelihood of this price movement being dependent on the 2021 price action.
CoinsKid, on the other hand, does not appear as optimistic. He also noted that XRP was again rejected from the historical level of $0.55 on April 24, sharing that such price movements are “starting to become boring.”
XRP Developments
On the other hand, data obtained on April 25 shows that XRP was trading at $0.520 at the time of writing, with a 1.44% decrease over 24 hours and a 4.70% gain over the previous seven days. A monthly review shows a 19.83% decrease.
Why is the XRP price falling today? It could be due to Ripple, the issuer of XRP, exchanging with Tether (USDT), the largest stablecoin by volume on behalf of its ODL customers in the US, linked to its ongoing legal battle with the SEC.
Meanwhile, Ripple’s defense team has made a statement regarding the approach to the lawsuit with the SEC, criticizing it and arguing that the $2 billion penalty demanded for selling XRP to institutional clients is unfair, suggesting that anything over $10 million would be unreasonable.
