XRP Price Prediction: Ripple XRP highly undervalued crypto?

XRP Price prediction suggests that Ripple XRP is the most undervalued crypto in the whole cryptocurrency market and the next bull run might soar the XRP price to $1.000.

Currently, XRP/USDT is trading at $3641 with an intraday loss of 0.74% and the 24-hour volume to market cap ratio at 0.043

The Ripple SEC lawsuit began in December 2020 when the SEC sued Ripple Labs, claiming that the company and its executive sold XRP cryptocurrency to investors without registering as a security. 

Since then XRP prices lost the charm of top cryptocurrency and traded into the wide range. However, it’s true that in 2021 bull run XRP prices have also rallied and investors have generated a decent return on their investment. Later, The Ripple XRP vs SEC case disturbed the sentiment of its genuine investors and the majority prefers to exit on the higher levels due to the uncertainty and legal issues.

XRP price is undervalued and might reach $1.000 ?

XRP price is down by 59% in the year 2022 which is due to many factors, such as crypto bear market, FTX collapse etc but one of major factors which is hurting the price is U.S Securities and Exchange commission (SEC) and the Ripple Labs lawsuit is not getting resolved. However, In this year 2023 Ripple CEO is expecting the issue to be finally resolved.

When XRP Price will come out of range?

XRP price prediction is definitely bullish for the long term due its super cool business model and of course XRP is ranked 6 crypto for its market capitalization. If we dive into the technical analysis then XRP prices seem like it is stuck into the wide range between $0.3000 to $0.5000 and likely to break on either side, possibly after the SEC vs Ripple issues are resolved.

However, XRP bulls have tried multiple times to hold the price above the 50 and 200 day EMA but got rejected shows that the short term trend is still in the bear’s grip. Therefore, if any pull back rally is seen then $0.4342 will act as an immediate hurdle level for the bulls.

Meanwhile, the Technical indicators of the XRP like MACD had generated a negative crossover indicating mild bearishness whereas the RSI at 37 sloping down denotes price might soon enter into the oversold zone. However, if the downside direction continues for coming months then $0.3314 and $0.3000 will turn out to be an important demand zone for the bulls. 

Conclusion

XRP Price prediction remains highly bullish for the long term and it may reach $1.000 in 2023 but for the short term Ripple’s XRP is into the bear grip. The technical analysis shows that prices are near to the oversold zone and XRP might anytime trigger a relief rally to clean out the short sellers.

Technical levels

Resistance levels : $0.4342 and $0.4979

Support levels : $0.3314 and $0.3000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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