In recent weeks, the XRP coin has benefited from positive news about the publisher Ripple. The increases in the altcoin run of the last few days have been rather moderate. However, XRP may be the most exciting opportunity in the crypto market right now. Will we soon see a $2 XRP price?
How has the Ripple price moved in the last few weeks?
XRP Price: XRP/USD Weekly chart showing the price – GoCharting
In general, the price of XRP has risen dramatically in recent weeks. In mid-March, the price remained at 0.37 dollars. The price increased dramatically at the end of the month, reaching $0.57.
Following a brief drop to $0.49, the price was able to re-establish itself above $0.50. In the last two weeks, we’ve seen the price move sideways with a slight increase. Altcoins have risen in value in recent days. The XRP increase was less significant.
Why could the Ripple price explode in the coming weeks?
Despite the recent sideways movement, the XRP price could rise sharply again in the coming weeks. Because the closer the decision in Ripple’s legal dispute with the US Securities and Exchange Commission gets, the more XRP supporters become excited. Because acquittal could destabilize the XRP price.
However, there is always the possibility that the price could fail if a guilty verdict is returned. As a result, we must assume that investing in the XRP coin at the moment is highly speculative.
How high can XRP Price go?
With more positive news about the legal dispute, an XRP price of one dollar is possible. The XRP coin may reach this level in the coming weeks as a result of the rising market in general and positive signals for Ripple in particular.
If the Ripple legal dispute is resolved favorably this summer, a rise to $2 is undoubtedly possible. This brand appears to be very optimistic in advance. Nonetheless, the XRP could benefit greatly from the anticipation of a forthcoming verdict. It’s difficult to say how things will go after the verdict.
The following speculative points are purely based on the Ripple vs SEC case and should be viewed as hypothetical scenarios, not predictions.
- The positive outcome of the Ripple vs SEC case: If Ripple is successful in the lawsuit and the SEC drops its allegations against the company, it could lead to a surge in investor confidence and a subsequent increase in demand for XRP. This could potentially drive the price of XRP to $2 or even higher.
- Ripple’s market position: Ripple is currently the fourth-largest cryptocurrency by market capitalization, with a strong following and adoption by financial institutions. If Ripple can leverage its market position and continue to grow its network, it could lead to an increase in demand for XRP, which could result in a higher price.
- Adoption by financial institutions: Ripple’s technology is designed to streamline cross-border payments and has gained traction with financial institutions around the world. If more financial institutions adopt Ripple’s technology and use XRP as a bridge currency, it could drive up demand and potentially increase the price of XRP.
- Impact of SEC allegations: The SEC’s allegations against Ripple have harmed the price of XRP, with many investors concerned about the outcome of the case. If the case is resolved in favor of Ripple, it could potentially reverse this negative sentiment and lead to a price increase.
- Overall cryptocurrency market: The overall cryptocurrency market has been volatile and unpredictable, with many factors impacting the price of cryptocurrencies, including regulatory actions, market sentiment, and investor behavior. If the cryptocurrency market experiences a bull run, it could potentially drive up the price of XRP, regardless of the outcome of the Ripple vs SEC case.
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Source: https://cryptoticker.io/en/xrp-price-current-crypto-market/