Before we get into our detailed XRP price prediction, let’s take a look at its price history as well as its technical and fundamental analysis! However, it is impossible to anticipate the price of cryptocurrency because past performance does not guarantee future results. Please keep in mind that this post on Ripple prediction is not investment advice and should not be construed as such. Before investing your hard-earned money in the cryptocurrency market, do your own research.
Jurisdictions all over the world are scrambling to pass legislation and regulations that will allow or make it simpler for businesses to conduct initial coin offerings (ICOs) or token issuances. So, ultimately, it comes down to one question: “Are cryptocurrencies here to stay?”
XRP, the digital currency created through mining, is gaining traction and appears to be weathering all recessionary monetary storms. The Ripple transaction protocol (RTXP) was first introduced in 2012, and the company was renamed Ripple Labs in 2013. Later, in 2015, Ripple Labs renamed itself Ripple.
Ripple protocol (XRP) crypto is included among the prominent cryptocurrencies, including Bitcoin, Ethereum, and Tether, owing to the awe-inspiring and inventive attempts of corporate Ripple, which has helped it establish its top position among major financial institutions.
History:
Through its exchange, settlement, and remittance systems, Ripple is a centralized fintech company that creates a range of solutions to address issues with international payments. Its name was RipplePay when software developer Ryan Fugger started the company in 2004.
This period was present before Bitcoin, the most well-known cryptocurrency in the world, rose to prominence. Later, in 2012, Jed McCaleb and Chris Larsen jointly launched Ripple. Similar to Bitcoin’s creator, Satoshi Nakamoto, Ripple was founded with the intention of making international transactions easier, faster, and more secure. Ripple Pay has the drawback of being centralized as opposed to network-based.
XRP Stock Price:
The current price of XRP is $ 0.705535, with a 24-hour trading volume of $ 2.74B, a market capitalization of $ 37.18B, and a market dominance of 3.11%. In the previous 24 hours, the price of XRP fell by -2.49%.
XRP reached its highest price on January 4, 2018, when it traded at its all-time high of $3.92, while it reached its lowest price on July 7, 2014, when it traded at its all-time low of $0.002802. The lowest price since the all-time high was $ 0.113268 (cycle low). Since the last cycle low, the highest XRP price was $ 1.977930 (cycle high). The current XRP price prediction attitude is neutral, with the Fear and Greed Index reading 50 (Neutral).
NOTES:
- In the last year, prices have risen by 82%.
- In one year, it outperformed 91% of the top 100 crypto assets.
- Trading above the 200-day simple moving average outperformed Bitcoin and Ethereum
- Based on its market capitalization, it has a high level of liquidity.
Analysis:
XRP coin entered the cryptocurrency market with a meager $0.0058 and remained there for several months. The revelation of the Ripple network collaborating with Tokyo-Mitsubishi Bank in 2017 completely altered the trajectory of this historic platform.
If we examine the coin’s historical price movement, we can see that it has done fairly well in the global market. The currency is now worth $0.3696, has a market size of $18,816,494,855, and a circulating supply of 50,950,912,949 XRP. On January 4, 2018, it reached an all-time high of $3.84.
According to our technical indicators, XRP’s 200-day SMA will grow in the coming month and reach $0.533938 by August 30, 2023. The short-term 50-Day SMA for XRP is expected to reach $0.785340 by August 30, 2023.
The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI is currently at 58.25, indicating that the XRP market is in a neutral state.
XRP has support levels of $ 0.691370, $ 0.676562, and the strongest at $ 0.657071 based on today’s classical pivot point (P1) of $ 0.710861. XRP resistance levels are also 0.725668, 0.745160, and 0.759967.
XRP has support levels of $ 0.691370, $ 0.676562, and the strongest at $ 0.657071 based on today’s classical pivot point (P1) of $ 0.710861. Similarly, the resistance levels for XRP are 0.725668. XPR has been trading in descending patterns such as triangles and wedges since April 2021. This, combined with the fact that it hasn’t been able to regularly breach the support line in that timeframe, shows a substantial probability of a trend reversal in the middle-range timeframes. This might propel XPR past previous resistance levels of $1.3 and beyond. Most indicators, like moving averages, indicate selling XRP in the immediate term. This disparity in projections, however, can be attributable to the high volatility levels of cryptocurrency in general. 0.745160, and 0.759967.
Prediction:
2023 Price Prediction for XRP
The price of XRP may rise further in 2023 after hitting a high of $0.94 as a result of the positive reaction from cryptocurrency investors to the lawsuit victory. This escalating assurance boosts XRP market sentiment as well. Following the decision, the value of XRP rose to $0.94, and at the time of writing, the price is currently hovering at $0.74. By the end of 2023, there is a good chance that the price of XRP will surpass $1.
2025 Price Prediction for XRP
In 2025, XRP can profit from its growth in the cross-border transaction industry because the remittances sector is expanding annually. The fast transactions and cheap fees of the XRP network are expected to cause it to flourish rapidly in 2025. A worldwide macroeconomic crisis might lower XRP’s maximum forecasted price for 2025 to $2.47, resulting in an average price prediction of $2.9.
XRP: Is It a Smart Investment?
As a result of its triumph with the SEC last week, XRP is currently regarded as a wise investment. Prior to investing in XRP, however, careful study is a must. Investors in cryptocurrencies should never invest more than they can afford to lose and be ready to take losses. Do your research before investing because bear markets even have an impact on the largest market caps of cryptocurrencies.
