2 years ago
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Online trading platform Capital.com has presented its Ripple (XRP) price prediction for 2022 and beyond as the SEC v. Ripple lawsuit is expected to be finally over in the coming months, either by settlement or court ruling, which will drive the market to draw at its own conclusions.
The lawsuit has had an impact on XRP trading in the United States, but the cryptocurrency remains active on international markets. The end of the lawsuit is likely to trigger the re-listing of XRP in US exchanges.
Bearish over the short term, extremely bullish in the years ahead
Capital.com took data from several sources to point toward a direction for the price of XRP. Writer Nicole Willing collected price predictions from market data platform CoinCodex, algorithm-based site Wallet Investor, DigitalCoin, and PricePrediction.
While CoinCodex offered a bearish short-term prognosis for XRP, Wallet Investor projected that the average price could move to $1.1 by the start of 2022, $1.68 by the end of 2022, and trade at $2.3 by the end of 2023, with the price possibly reaching $3.5 by the end of 2025.
DigitalCoin predicts an average of $1.57 next year and $1.85 in 2025, with XRP averaging $4.17 by 2028. And if PricePrediction is right, XRP could average $3.64 in 2025 and reach $23.32 by 2030.
“It’s important to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours let alone long-term estimates. As such, analysts can and do get their predictions wrong”, said Capital.com, reminding investors to do their own research, keep in mind that past performance is no indicator of future returns, and never invest more than one can afford to lose.
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Ripple says XRP price driven by broader markets
“Underlying trading activity is uncertainty rooted in this ongoing court case filed against Ripple in December 2020 by the US Securities and Exchange Commission (SEC)”, Capital.com’s Nicole Willing wrote.
In December, Ripple CEO Brad Garlinghouse said: “The SEC’s theory that XRP is an investment contract ignores the economic reality that XRP is, and has long been, a digital asset with a fully functional ecosystem and a real use case as a bridge currency that does not rely on Ripple’s efforts for its functionality or price.”
As to the price, it dropped from $0.60 at the end of November 2020 to a low of $0.1748 in December 2020, when the SEC filed the lawsuit, but crypto bulls sent XRP to a high of $1.9600 in April 2021, still far away from the all-time high of $3.84 printed in January 2018.
In its response to the lawsuit, Ripple Labs has argued that what drives the price of Ripple is price trends on the broader markets, rather than attempts to affect the price by increasing its liquidity as a security.
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