The XRP coin has performed relatively well in the past few days despite the crypto crash. In the last 7 days, XRP has lost only 7 percent in value and is the best among the major cryptocurrencies. So what is the XRP forecast for the next few weeks? Can XRP reach 1$ after positive SEC litigation news?
How did the XRP price move in the last few days?
In the last few days, the XRP course has had a relatively stable performance. Over the past 7 days, XRP has only lost 3 percent in value. For comparison, we can look at Bitcoin, which has seen a nearly 10 percent drop in value over the past 7 days.
After the XRP price was only able to rise much less than other cryptocurrencies in January, we have only seen a smaller drop in the price compared to the average for cryptocurrencies in the last few weeks.
The strong numbers of the last few days compared to the overall market are mainly due to the ERP seeing a brief rally. Between 06.03. and the 08.03. the price rose from 0.36 to almost 0.40 dollars.
What is the XRP forecast for the next few weeks?
With the SEC’s smoldering legal battle against Ripple, it is often difficult to predict whether the XRP price may rise or fall. When there is good news surrounding the court case, the XRP often rises sharply, although the other cryptocurrencies hardly move upwards.
In the next few weeks, the XRP coin could therefore increase in value again. This assumes that the crypto market can return to an uptrend in the coming weeks. The market has to recover from the crash of the last few days.
In the past few days, Silvergate Bank and Silicon Valley Bank have filed for bankruptcy. The crypto market is directly affected since many crypto companies had their reserves in these banks. After the first shock, speculative pressure could now be released from the market and prices could rise again in the following weeks.
How high will XRP reach soon?
There is a possibility that the market may increase in the upcoming weeks. XRP is expected to have a significant increase. Positive news regarding the court’s ruling, which the XRP community actively promotes, can contribute to its growth. However, it may still take several weeks or even months before a decision is made regarding the classification of XRP as a security.
There are many uncertainties presently. However, if we make conjectures, it’s possible that the XRP price could exceed 0.50 dollars in the last 6 to 8 weeks. Nonetheless, reaching $1 is highly improbable unless Ripple is cleared in the SEC case during this period. Therefore, we predict that XRP will range from $0.45 to $0.50 in the next 6 to 8 weeks.
XRP Coin: Is it a Good Investment?
The XRP coin currently remains a speculative investment due to the legal dispute with the SEC. It all depends on whether you think Ripple will be acquitted or whether you assume a guilty verdict. There could be either a price explosion or a price implosion.
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Source: https://cryptoticker.io/en/xrp-price-prediction-for-2023-can-xrp-reach-1-still/