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XRP Price Prediction – Is XRP Set To Explode in 2023?

01/07/2023
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Despite recent Ripple network developments, the Ripple XRP coin has been flashing red and has remained well-offered around the 0.3366 level. XRP has been under heavy selling pressure as a result of the recent drop in the cryptocurrency market and the long-awaited decision in the Ripple v. SEC lawsuit.

The price of Ripple’s native coin has dropped by 30% in the last two months.

Although the declines seem to be fading, the price of XRP has rebounded a little because the crypto whales have accumulated a substantial amount of XRP due to the Ripple v. SEC litigation’s upcoming positive outcome.

Thereby, the price of XRP will rise sharply amid the significant increase in buying volume. Meanwhile, the long-awaited decision in the Ripple v. SEC lawsuit is expected to be made, which might be the biggest factor driving up the price.

In contrast to this, the price of XRP is expected to be volatile in the short term due to a few circumstances that could influence the entire cryptocurrency market.

At that time, the token has been able to hold above the substantial support levels but has been unable to consistently conquer the critical resistance. The current XRP price is $0.33, and the 24-hour trading volume is $693 million. In the last 24 hours, XRP has dropped 1.65%. XRP is now ranked #6 in the market, with a live market cap of $17 billion.

Ripple’s XRP Listing

As previously stated, the US SEC’s continuing lawsuit against Ripple has hindered the growth of its native coin. This occurred after the US watchdog’s forced many cryptocurrency exchanges to remove XRP from their listings. As in result, XRP has been facing significant selling pressure. Thereby, the price of Ripple’s native coin has decreased dramatically by 30% in the past two months.

Although XRP declines appear to be receding as a result of BitMart, the largest cryptocurrency exchange, decision to offer the XRP token. BitMart has announced the listing of Ripple’s XRP (XRP/USDT) on its platform. The deposit option will be available beginning January 5, 2023.

XRP Lawsuit

XRP investors are interested in what the future holds for cryptocurrency, which is now placed sixth in terms of market capitalization. The continuing legal conflict between Ripple and the Securities and Exchange Commission is one of the most important elements that might have a big impact on its performance.

It is worth remembering that the SEC filed a complaint against Ripple Labs on the basis that it had allegedly issued unregistered securities in the form of XRP currencies. Both parties have filed their final arguments in the three-year-old case, which is still awaiting a decision.

However, the long-awaited decision in the Ripple vs. SEC lawsuit is anticipated to be delivered, and this might be the main driver of the price increase.

If the US SEC wins this action, it can have extremely negative effects on XRP. In particular, the regulatory body has the authority to fine Ripple Labs and force the business to register XRP as a security.

If Ripple is successful in refuting the SEC’s claims, it can be viewed as a huge victory for the company and a positive perception of XRP. However, the outcome of the litigation is still uncertain, even though Ripple had some success throughout the hearings, which is something that must be kept in mind.

It is also worth noting that the application to seal portions of the parties’ summary judgment materials in the XRP dispute was made by MoneyGram International Inc., a cross-border payments company, and other parties. However, Ripple, other defendants, and the US SEC have fully detailed the motions for summary judgment, including the oppositions and replies.

Upcoming Coins with Exceptional Growth Potential

A few cryptocurrencies are gaining popularity in 2023 despite the market’s ongoing bearishness.

FightOut (FGHT)

Fight Out is an upcoming move-to-earn platform and gym chain that will utilize smart technology to create individualized workout routines and track user performance to give ongoing feedback to users. The FightOut (FGHT) platform works in the same way as a personal trainer, which rewards users with REPS tokens for completing set goals. All activities are tracked and may be utilized to improve one’s metaverse avatar’s stats.

The FGHT presale is going well, with about $2.6 million raised so far. The current selling price of 60.06 FGHT for $1 (FGHT may be purchased using ETH or USDT) is expected to rise as the sale progresses.

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based platform that launches in the first half of 2023 and provides real-time statistics and social trading data. A few of the features will include trading signals, on-chain data, strategy-building tools, and newsfeeds, allowing both novice and seasoned traders to keep on top of the volatile crypto market.

According to recent information, the sell-out presale for the trade intelligence cryptocurrency project will be increased by including an overfunding round. The presale was set to finish earlier today after reaching its fourth and final financial target of $13,420,000.

The Dash 2 Trade team decided to organize a 5th stage (or “over-funding round”) of the presale where 36,000,000 tokens would be offered at a price of $0.0556 in order to raise an extra $2,001,600.

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Related

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Source: https://insidebitcoins.com/news/xrp-price-prediction-is-xrp-set-to-explode-in-2023